HomeMy WebLinkAboutA048 - Irrevocable Letter of Credit No. 0358 dated December 19, 2008 - $45,000 FIRST
NATIONAL p
BANK
AMES •ANKENY
DEC - 8 2008
Issue Date: December 19,2008 CITY CLERK
CITY OF AMES.IOWA
Irrevocable Letter of Credit No. 0358 RE:Natures Crossing
City of Ames
515 Clark
Ames, IA 50010
RE: Pinnacle Properties Ames,L.L.C.
2426 Yorkshire Cir
Ames, Iowa 50010
Gentlemen:
We hereby establish our Irrevocable Letter of Credit No. 0358 in favor of
City of Ames
515 Clark
Ames,Iowa 50010
For the account of: Pinnacle Properties Ames, L.L.C.
2426 Yorkshire Cir
Ames,Iowa 50010
w. In the amount of$45,000.00 U.S. Dollars. Irrevocable Letter of Credit No. 0358 will expire on
December 19,2009.
Drafts for payment must be accompanied by the following:
1. Copies of all invoices,which have remained unpaid for 60 days from invoice date.
2. Beneficiary's signed statement indicating that the invoices are unpaid.
3. Copy of this Irrevocable Letter of Credit No. 0358.
Partial payments are permitted.
We hereby agree that drafts drawn under and in compliance with the terms of this Letter of Credit
will be duly honored.
This Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credit
(1993)Revision,International Chamber of Commerce Publication#400.
Sincerely, By PR jED T,O�,oR
FOUQLAS R.UM/A'REK
By' CITY ATTORNEY
oel Thilges,Vi sident
MAIN OFFICE UNIVERSITY OFFICE NORTH GRAND OFFICE CUB FOODS OFFICE ANKENY OFFICE
405 5th Street 2330 Lincoln Way 2406 Grand Avenue 3121 Grand Avenue 1205 N.Ankeny Blvd.
Ames,IA 50010 Ames, IA 50014 Ames,IA 50010 Ames,IA 50010 Ankeny,IA 50023
515-232-5561 515-292-6157 515-233-2400 515-233-3363 515-965-3969
Fax 515-232-5778 Fax 515-965-0125
Member FDIC www . FNBames . com
LENDER