HomeMy WebLinkAboutA048 - Letter of Credit No. 0403 dated December 18, 2018 10 - Cq —1 q ev j i�o�
Sr FIRST -� fc --�I ,
NATIONAL
BANK
AMES • ANKENY • JOHNSTON
VALLEY JUNCTIO W T DES MINES
1Nssue ate: December 18,2018
Irrevocable Letter of Credit No. 0403 RE: South Fork Subdivision 311 Addition
RE: Pinnacle Properties Ames,L.L.C.
4114 Cochrane Parkway
Ames, Iowa 50014
Ladies/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 Ames,L.L.C.
(South Fork Subdivision 3ra Addition)
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, 2019.
Drafts for payment must be accompanied by the following:
1. Statement indicating which item(s) were not completed under the original estimate of cost
submitted to establish this letter of credit.
2. Copies of all invoices, from a third party provider that the City of Ames hired to completed
the specific item(s)or if the City completed the item(s),an itemization of the cost.
3. Beneficiary's signed statement indicating that they are requesting the lesser of the cost to
complete the specific item(s) or the stated dollar amount of the original estimate of cost
submitted to establish this letter of credit.
4. Copy of this Irrevocable Letter of Credit No. 0403.
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 Practice of Documentary Credit (1993)
Revision, International Chamber of Commerce Publication#400.
Sincerely,
First National Bank of Ames
oel A. enior Vice 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
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