HomeMy WebLinkAboutA016 - Letter of credit No. 635 dated June 30, 2009, receipt letter, and release letter community state bank
June 30", 2009 Irrevocable Letter of Credit No.635
Date of Issue: 06/30/2009
Date of Expiration: 6/30/2011
Amount: $180,670.00
To Beneficiary: City of Ames, Iowa
Attn: City Clerk
515 Clarke Ave.
Ames, IA 50010
We hereby establish our irrevocable Letter of Credit No. 635, for the account and
by the order of Scott E.Randall up to the aggregate amount of$180,670.00.
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. 635, dated June 30th, 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
the Public Improvements Contract for Grand Aspen Subdivision, Third Addition,
Ames, Iowa, have not been completed before June 30th, 2011.
817 This letter of credit and all documents specified must accompany the
'Ankeny,]A 5o623'
• :• .- 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
'Ankeny A5002'3'�'
honored on delivery of documents as specified.
Drafts must be drawn and negotiated at our office at 1640 SW White
•2 Birch Circle, in Ankeny, Iowa, no later than the expiration of this letter of credit
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at the close of business on June 30th, 2011.
PO.Box
Altoon&IA
0009 This Letter of Credit is subject to the"Uniform Customs and practice for
.Box Documentary Credits (1993 Revision), International Chamber of Commerce
D" Publication No. 500", or the successor version in effect at the time of any draws.
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Des Moiries,]A
50317 Upon completion of the improvements to the development the City of Ames will
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release this letter of credit.
6175 Merle . ...
Johnston,PO.Box 308
Sincerely,
i Boulevard
Pleasant Hill,A 50327
460 E.University Ave. &gi 'ght
Waukee,A ' Vice President
APPR D TO FORM
Local '1e •" Community State Bank,NA BY
D LAS R.MAR K
CITY ATTORNEY
City Clerk's Office
• 515 Clark Avenue,P.O.Box 811
rQri„gPwpk Ames,IA 50010
QUdiV Programs Phone: 515-23 9-5105
ErcepNonal service Fax: 515-23 9-5142
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. 635 in the amount of$180,670.00.
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 Clerk
- City Jerk' f ice
•
515 Clark Avenue,P. 0.Box 811
CaringPeoPle Ames,IA 50010
Qaaliry Pmg—
Exceptional Service Phone: 515-239-5105
Fax: 515-239-5142
December 9, 2009
Community State Bank
1640 White Birch Street
Ankeny, Iowa 50023
Attention Kyle Yencer
RE: Grand Aspen Subdivision, Third Addition
Letter of Credit (LOC)No. 635
Dear Mr. Yencer:
At its meeting of December 8, 2009, the Ames City Council adopted Resolution No. 09-557
accepting completion of the street lane widening from the east side of Outlot B, Aspen Ridge, to
the east side of Grand Aspen, 3rd. Subsequent to that action, Irrevocable Letter of Credit No. 635
has been released, and same is enclosed herewith.
If you have questions,please call. Thanks you.
Sincerely,
Diane Voss
City Clerk
/dry
Enclosure
Copy to: Larry R. Curtis