HomeMy WebLinkAboutA043 - Release of LOC 403 with expiration date of December 18, 2017 2 -� PkJ
Sr FIRST
NATIONAI.
RANKS
AMES • ANKENY • JOHNSTON
VALLEY JUNCTIONI4sV'ft9R&'ONcember 18, 2016
Irrevocable Letter of Credit No. 0403 RE: South Fork Subdivision 3rd Addition
City of Ames
515 Clark
Ames, IA 50010
RE: Pinnacle Properties of Ames, L.C.
4114 Cochrane Parkway
Ames, Iowa 50014
Gentlemen,
We hereby establish our Irrevocable Letter of Credit No.0403 in favor of.-
City of Ames
515 Clark
Ames, IA 50010
For the Account of:
Pinnacle Properties of Ames, L.C.
4114 Cochrane Parkway
Ames, Iowa 50014
In the amount of$3,454.00 U.S. Dollars. Irrevocable Letter of Credit No. 0403 will expire on
December 18, 2017.
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. 0403.
Partial Payments are permitted.
r
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 of Documentary Credit
(1993) Revision, International Chamber of Commerce Publication 4400.
Sincerely,
First National Bank of Ames
By:
oel A. Thilge ce President
AMES OFFICE ANKENY OFFICE JOHNSTON OFFICE VALLEY JUNCTION OFFICE WEST DES MOINES OFFICE
405 5th Street 1205 N.Ankeny Blvd. 8460 Birchwood Court,Suite 1100 301 5th Street 5625 Mills Civic Parkway,Suite 100
Ames,IA 50010 Ankeny,IA 50023 Johnston,IA 50131 West Des Moines,IA 50265 West Des Moines,IA 50266
515-232-5561 515-965-3969 515-440-7180 515-274-3483 515-225-2641
Fax 515-232-5778 Fax 515-965-0125 Fax 515-331-2996 Fax 515-274-0173 Fax 515-225-8718
www. FNBames . com www. FNBdm . com Member FDIC
Page 1 of')
RE: Pinnacle Properties Ames letters of Credits
Tracy Warner
to:
Joel A. Thilges
12/06/2017 05:16 PM
Cc:
Diane R Voss, John C Joiner, Keith Arneson
Hide Details
From: Tracy Warner/COA
To: "Joel A. Thilges" <Joel.Thilges@FNB247.com>
Cc: Diane R Voss/COA@COA, John C Joiner/COA@COA, Keith Arneson <keithdarneson@gmail.com>
All,
✓LOC #403 This` O C needs to be renewed since the pedestrian ramps still have not been correctly
Installed for South Fork 3rd Addition.
*C #404(Can be released according to Charlie (Planning) since the financial security for street trees
. (Diane,
sociated with South Fork 3rd Addition is now part of the South Fork Wrap Up.
(D do you want a letter to City Council (from me) or can you draft something to them for this one?)
/LOC #428 Crane Farm 2nd Addition - I am still working on this one and will respond to all of you
tomorrow.
LOC #429 This L nce the work has not been completed.
f
Tracy L. Warner,Municipal Engineer
City of Ames
Public Works Department
Engineering Division
515 Clark Avenue
Ames,IA 50010
Desk: (515) 239-51 63 '
Email:twarner(C�city.ames.ia.us C, 4qi
-----"Joel A. Thilges" <Joel.ThiIges@FNB247.com> wrote: -----
To: "dvoss@city.ames.ia.us" <dvoss@citv.ames.ia.us>, John C Joiner <JJoiner@city.ames.ia.us>,
Tracy Warner <twarner@citv.ames.ia.us>
From: "Joel A. Thilges" <Joel.Thilges@FNB247.com>
Date: 12/06/2017 11:27AM
Cc: Keith Arneson <keithdarneson@gmail.com>
Subject: RE: Pinnacle Properties Ames LLetters of Credits
Diane, John and Tracy,
Just following up as I have not received any information as to the status of the required work remaining
and corresponding dollar amount as it relates to the respective subdivision Letters of Credit. Two of
these now mature for all practical purposes at the end of the week and two in 12 days.
Please advise.
file:///C:/Users/diane.voss/AppData/Local/Temp/notesFFF692/—web7420.htm 12/7/2017