HomeMy WebLinkAboutA011 - Letter of credit No. 634 dated June 10, 2009 and receipt letter community state bank
June 10', 2009 Irrevocable Letter of Credit No.: 634
Date of Issue: 06-10-09
Date of Expiration: 09-01-09
Amount: $108,610.00
To Beneficiary: City of Ames, Iowa
Attn: City Clerk
515 Clarke Ave.
Ames, IA 50010
We hereby establish our irrevocable Letter of Credit No. 634 for the account and
by the order of Scott E. Randall up to the aggregate amount of$108,610.00.
Payment under this letter of credit shall be available by your draft(s)at
sight on Community State bank,NA, Ankeny, Iowa, bearing on its face the clause
"Drawn under Irrevocable Letter of Credit No. 634, dated June 10`h, 2009,"and
accompanied by the statement of the Beneficiary signed or purporting to be
signed by one of its officials certifying that the public improvements called for by
817 N.Ankeny Boulevard the Public Improvements Contract for Grand Aspen Subdivision; Third Addition,
'• Box 1270023 Ames, Iowa, have not been completed before September ls', 2009.
This letter of credit and all documents specified must accompany the
'" ,;` draft(s) for endorsement of any payments. We hereby agree that all drafts drawn
under and in compliance with the terms of this letter of credit will be duly
• �Road
�'• honored on delivery of documents as specified.
Drafts must be drawn and negotiated at our office at 1640 SW White
:•.:•• • ���, Birch Circle, in Ankeny, Iowa, no later than the expiration of this letter of credit
Altat the close of business on September 1", 2009.
Ro.Box" •Avenue This.Letter of Credit is subject to the"Uniform Customs and practice for
Moines,Des Documentary Credits (1993 Revision), International Chamber of Cornmerce
StreetPublication No. 500", or the successor version in effect at the"time of any draws.
Des Moines, 1
4811 S.E.14th Street
Des Moines, 50320
6175 Merle Hoy •°°
•• Box 308
Johnston,IA 50131 Sincerely,
1025 N.Hickory Boulevard
Pleasant1 l
460 E.University Ave. gi Brig l
I Waukee,IA 50263
Vice President APPRO S r�q FdRM
LocalCommunity State Bank, NA
" DOUGLAS R. lJ�
CITY ATTORNEY K
City Clerk's Office
515 Clark Avenue,P. O.Box 811
CaringPeopfe Ames,IA 50010
QUdi rrog— Phone: 515-239-5105
Euepfland Service
Fax: 515-239-5142
July 7, 2009
TO WHOM IT MAY CONCERN:
I, Jill L.Ripperger,hereby certify that I have this date received from Matt Randall, a Letter of Credit
No. 634 in the amount of$108,610.00.
Said instrument has been placed on file in the Ames City Clerk's Office, 515 Clark Avenue, for the
development of public improvements in Grand Aspen Subdivision, 3`d Addition,City of Ames,Iowa.
By: --
Jill L. Ripperger
Title: Deputy City Clerk