HomeMy WebLinkAboutA029 - Letter of Credit No. 0422 returned to First National Bank June 30, 2016, to exchange for new LOC f f4-0
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AMES • ANIY VALLEY JUNCTJ Q,' Oe 19, 2015 { V"✓
Irrevocable Letter of Credit No. 0422 RE: South Fork Subdivision 8rh Addition —Coy/Sunflower
Extension
City of Ames
515 Clark
Ames, IA 50010
RE: Pinnacle Properties of Ames, L.C.
4114 Cochrane Parkway
Ames, Iowa 50014
Ladies/Gentlemen,
We hereby establish our Irrevocable Letter of Credit No.0422 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$31,450.00 U.S. Dollars. Irrevocable Letter of Credit No. 0422 will expire on
June 19, 2016.
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. 0418.
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
By:
oel A. Thilges,�� resident
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 LTZERR
Public Works Department
515 Clark Avenue, Ames, Iowa 50010
Phone 515-239-5160 ♦ Fax 515-239-5404
June 17, 2015
Honorable Mayor and Council Members
City of Ames
Ames, Iowa 50010
Ladies and Gentlemen:
I hereby certify that the curb & gutter and asphalt base paving construction required as a
condition for approval of the final plat of South Fork, 8th Addition have been completed in an
acceptable manner by Manatts, Inc. of Ames, IA. The above-mentioned improvements have
been inspected by the Engineering Division of the Public Works Department of the City of
Ames, Iowa and found to meet City specifications and standards.
As a result of this certification, it is recommended that the financial security for public
improvements on file with the City for this subdivision be set at $31,450.00. The remaining
work covered by this financial security includes asphalt surface paving, street lighting, erosion
control, pedestrian ramps and final utility fixture adjustments.
Sincerely,
John C.Joiner, P.E.
Director
JJ/jc
cc: Finance, Contractor, Construction Supervisor, PW Senior Clerk, Planning & Housing,
Subdivision file
Public Works Department 515,239.5160 main 515 Clark Ave.P.O.Box 811
Engineering 515.239.5404 fax Ames,IA 50010