HomeMy WebLinkAboutA023 - Letter dated March 3, 2010 releasing Irrevocable Letter of Credit No. 0377 with copy r.
City Clerk's Uffic@--
515 Clark Avenue,P. 0.Box 811
Coring People Ames,IA 50010
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EuepriondService Phone: 515-239-5105
Fax: 515-239-5142
March 3, 2010
Nyemaster Law Firm
1416 Buckeye
Ames, Iowa 50010
Attention Brian Torresi
RE: Walnut Ridge Subdivision, 2'Addition
Dear Brian:
At its meeting of March 2, 2010, the City Council accepted completion of the public
improvements for the above-referenced Subdivision and released the security being held therefor.
Enclosed is the released Irrevocable Letter of Credit No. 0377 for C &B Lincoln Way, LLC.
If you have questions, please call. Thank you.
Sincerely,
Diane Voss
City Clerk
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Enclosure
bTFIRST
NATIONAL
BANK
AMES •ANKENY
Issue Date: May 12, 2009
Irrevocable Letter of Credit No. 0377 RE: C&B Lincoln Way,LLC
(Walnut Ridge Subdivision 2nd Addition)
City of Ames
515 Clark Avenue
Ames,IA 50010
RE: C&B Lincoln Way,LLC
105 S. 16`'St.
Ames,Iowa 50010
Ladies and Gentlemen:
We hereby establish our Irrevocable Letter of Credit No. 0377 in favor of
City of Ames
515 Clark Avenue
Ames,Iowa 50010
For the account of: C&B Lincoln Way,LLC
105 S. 16`' St.
Ames,Iowa 50010
In the amount of$33,275.00 U.S. dollars. Irrevocable Letter of Credit No. 0377 will expire on
May 11,2010 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. 0377.
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,
colt T.Bauer,
President
MAIN OFFICE UNIVERSITY OFFICE NORTH GRAND OFFICE CUB 21 FOODS A Avenue
ANKENY
N.Ankeny Blvd.
405 5th Street 2330 Lincoln Way 2406 Grand Avenue Ankeny,IA 50023
Ames,IA 50010
Ames,IA 50010 Ames,IA 50014 Ames, 3 4010 515-233-3363 515-965-3969
515-232-5561 515-292-6157 515-233-2400 Fax 515-965-0125
Fax 515-232-5778
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