HomeMy WebLinkAboutA013 - Irrevocable Letter of Credit No. 0448, First National Bank, dated September 20, 2018 - $27,700 FIRST
NATIONAL
BANK
AMES • ANKENY • JOHNSTON
VALLEY JUNCTION • WEST DES MOINES
Issue Date: September 20, 2018
Irrevocable Letter of Credit No. 0448
RE: LDY Subdivision, First Addition(Sidewalk Installation)
City of Ames
515 Clark
Ames, IA 50010
Ladies/Gentlemen,
We hereby establish our Irrevocable Letter of Credit No. 0448 in favor of:
City of Ames
515 Clark
Ames,IA 50010
For the Account of: LDY, LLC
105 S 16"' St.
Ames, IA 50010
In the amount of 27,700.00 U.S. Dollars. Irrevocable Letter of Credit No. 0448 will expire on
September 20, 2019.
Draft(s) 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
complete 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. 0448.
We hereby agree that draft(s) drawn under and in compliance with the terms of this Letter of
Credit will be duly honored. Partial Payments are permitted.
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
B a
AMES OFFICE L AaKENYeOFFICEff, Vic el
K6Birchwood
S ON OFFICE VALLEY JUNCTION OFFICE WEST DES MOINES OFFICE
405 5th Street 1205 N.Ankeny Blvd. 8 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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