HomeMy WebLinkAboutA019 - Letter of Credit No. 0368 dated June 23, 2008 - $419,820.72 , with receipt 12.-I? •D� O�i .� C. WiKkl�b lo�.k
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NATIONAL
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Issue Date: June 23, 2008
Irrevocable Letter of Credit No. 0368 RE: Northridge Heights 121h Addition (OFr--SITE J k kPP.)
City of Ames
515 Clark Avenue
Ames, IA 50010
RE: Friedrich Land Development Company,L.L.C.
619 E Lincoln Way
Ames, Iowa 50010
Gentlemen: _
We hereby establish our Irrevocable Letter of Credit No. 0368 in favor of
City of Ames
515 Clark Avenue
Ames, Iowa 50010
For the account: Friedrich Land Development Company L.L.C.
619 E Lincoln Way
Ames, Iowa 50010
In the amount of$419,820.72 U.S. dollars. Irrevocable Letter of Credit No. 0368 will expire on
June 23, 2009 unless renewed or extended.
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. 0368.
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 Practices for Documentary Credits
(1993)Revision, International Chamber of Commerce Publication#500.
Sincerely, APP D T F RM
O BY
D GLA MAR K
n R. Linch CITY ATTORNEY
Senior Vice President
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 w w w . F N B a m e s . c o m �IEIiDEp
- City Clerk's Office
515 Clark Avenue,P. O.Box 811
Ames,IA 50010
Caring People
Quality P-g� Phone: 515-239-5105
Eueptlonal Service Fax: 515-239-5142
June 23, 2008
TO WHOM IT MAY CONCERN:
I, Diane R. Voss, hereby certify that I have this date received from Friedrich Land Development
Company, LLC, an Irrevocable Letter of Credit in the amount of$419,820.72.
Said instrument has been placed on file in the Ames City Clerk's Office, 515 Clark Avenue, for the
development of the off-site improvements in accordance with the schedule pertaining to the Final Plat
for Northridge Heights, 12th Addition, to the City of Ames, Iowa, to wit: paving: $400,123.95,
Utilities: $212,017.50, Traffic Signal: $150,000, Erosion Control: $2,500, Railroad Crossing:
$75,000.Said costs to be shared evenly between Hunziker Land Development Company and Friedrich
Land Development Company.
By:
Diane R. Voss
Title: City Clerk