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HomeMy WebLinkAboutA017 - Letter of Credit dated September 15, 2015 I . 7-4-1 [ 61 IRREVOCABLE STANDBY LETTER OF CREDIT ISSUER: c • ''/C� (�c'� C l ) Lt,1 z! (L VISIONBANK OF IOWA ) 1 104 CHESTNUT ST AMES,IA 50010 Date of Issue:09.15-2015 Letter of Credit Number: 73 Amount: U.S. $ 2,500.00 ( TWO THOUSAND FIVE HUNDRED AND N011OO U.S. DOLLARS) For Benefit Of: For Account Of: Beneficiary Name and Address Applicant Name and Address CITY OF AMES HUNZIKER LAND DEVELOPMENT COMPANY LLC 515 CLARK AVE,PO BOX 811,AMES,IOWA 50010 105 S 16TH ST AMES,IA 50010 LETTER OF CREDIT. Issuer establishes this Irrevocable Standby Letter of Credit (Letter of Credit) in favor of Beneficiary in the amount indicated above. Beneficiary may draw on this Letter of Credit with a Draft (or Drafts, if the maximum number of drawings is greater than one) together with the documents described below. Each Draft shall be signed on behalf of Beneficiary and be marked "Drawn under [Issuer name] Letter of Credit No. [Letter of Credit number] dated [Letter of Credit date]." Drafts must be presented at Issuer's address shown above on or before the Expiration Date. The presentation of any Draft shall reduce the Amount available under this Letter of Credit by the amount of the Draft. This Letter of Credit sets forth in full the terms of Issuer's obligation to Beneficiary. This obligation cannot be modified by any reference in this Letter of Credit, or any document to which this Letter of Credit may be related. This Letter of Credit expires on the Expiration Date. DRAWINGS. ❑ Partial drawings shall not be permitted under this Letter of Credit. ® Partial drawings are permitted. The maximum number of drawings that may be made is DOCUMENTS. Each Draft must be accompanied by the following, an original and two copies except as stated: ❑ The original Letter of Credit, together with any amendments. ❑ A sight draft drawn by Beneficiary on Issuer. ® A signed statement by Beneficiary including the following statement: DRAWN UNDER IRREVOCABLE STANDBY LETTER OF CREDIT#73 DATED' SEPTEMBER 15,2015 FOR THE ACCOUNT OF HUNZIKER LAND DEVELOPMENT ❑ Other documents: COMPANY,LLC. Issuer shall be entitled to accept a draft and the documentation described above, as required by the terms of this Letter of Credit, from any person purporting to be an authorized officer or representative of Beneficiary without any obligation or duty on the part of Issuer to verify the identity or authority of the person presenting the draft and such documentation. SPECIAL INSTRUCTIONS: Irrevocable Standby Letter of Credit LC-STANDBY 9/11/2009 VMPO Bankers SystemsTM VMPC612 (09091.00 Wolters Kluwer Financial Services ©2001,2009 Page 1 of 2 Z Jo Z abed 60OZ'L00Z OO saoiAiaS leioueul j iamnl>l siallom 00160601 ZMdWA 6V1swalsAS sialueg(DdINA 60OZ/L L/6 A80NVIS-01 llpai0 Jo lanai AgpuelS algeoonaliI (aiJT1,PUB aIWRN IMJTS) 839VNVIN IV1083WW00 dl1S'NOSM3HiIVW lanN StlWOHl aleQ) oinieu2iS) v `fig (atuL,N Ianssl) VM0130 NNVONOISIA •olquollddu se `dSI 10 dDfl ai;l pm lualslsuoaui lou aIu smut ilons se Suol os `t;o►Iauzv ;o Soluls palnifl ails VM01 3o SAAel aql �q paulanOB aq oslp Ilegs lip iD 3o Iallo-I silo •(86dSI) 8661 Saollop.Id XgpuLlS Imollpuniul aql ❑ 'luauipuaule Io uoISIaA Ia1eJ Xuu IO `(dDN 009 'ON uoueoilgnd oonunuoD 3o IaquiugD Iuuolluulalui `uotSlAa-d LOOZ `S1TpaID �juluaumooQ Io3 aollopld pup suiolsnD uuoltu fl aql :�q paulanOB aq IILgs llpojD 3o Iapla-I sigi •Md"I g'IgdDI'Iddd •alqula3supll-uou ® alquaa3suull ❑ si llpaiD jo Ialla'I suU -ALI'IIgd2IgdSNd2I.L •,Clulogauag of ianssl uioi3 oopou pup lnogpTm uo aaidxa hugs llpalD 3o Iallarj Slip `luaAa 6uu uI •lipalD 3n Iaua-I Stgl pualxa of IOU Sloala Ianssl Jegl a1uQ uotleltdxg aql of Loud s/iep lsual pe Sutlllm ui 6-relogpu3g sagllou Ianssl ssalun 'aluQ uoile.ndxg aql uloi3 sxup 3o potlad e ioj popualxa N ITT apeQ uoilendxg aqp `a1pQ uoilplldxg aql of loud llpaiD 3o Iallo-I sigl 3o lunouip lln3 aql umuap lou suq Cluiojpuog 3I ❑ •aluQ uoileIidxg aqi wopq Io uo llpalD jo Ialpa"I Sidi JO SUOISIAOId aql gpim aoupildmoo loillS ui paluasaid sljLlCl Ile Iouoq of saal8p Ianssl (a1pQ) 9LOZ-SL•60 uO (au?.L) •W'd 0C:V le ssalppe s,ionssl iu ssauisnq jo asolo aqp pu salldxa lipaiD;o Ialla"I still, •g.LdQ NOI LV-dldXg