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Home My WebLink AboutA029 - Copy of Letter of Credit returned May 2, 2019 BankersTrust Abhineu Mathema Bap�l IkersTrus t"" amathema@bankerstrust.com BankersTrust.com 453 7th Street P.O. Box 897 Des Moines, IA 50309 t (800)362-1688 " Global Banking Street o (515)245 2844 Des Moines,oines,IA 50309 C.n Uf (515)247-2140 CITY OF AMES e A _r_ ( V IC�' CITY HALL, 515 CLARK AVENUE !�„ I �e 'Y� �JV` AMES, IA 50010 kf 5 r/ -+-L ovlC� NOTIFICATION OF ISSUANCE STANDBY' LETTER OF CREDIT +o DATE: JULY 09, 2018 OUR REFERENCE: 20000426-00 APPLICANT: IOWA STATE UNIVERSITY RESEARCH PARK BENEFICIARY: CITY OF AMES AMOUNT: USE) $1,233, 630.67 EXPIRY DATE: DECEMBER 31, 2021 EXPIRY PLACE: OUR COUNTERS PLEASE FIND THE ENCLOSED COPY OF OUR STANDBY LETTER OF CREDIT NUMBER 20000426-00. WE KINDLY ASK YOU TO REVIEW THE DETAILS OF THE LETTER OF CREDIT AND NOTIFY US IF YOU HAVE ANY CONCERNS RELATED TO THIS LETTER OF CREDIT. BANKERS TRUST COMPANY COMPLIES WITH ALL APPLICABLE U.S. LAWS AND REGULATIONS AND THEREFORE ANY DOCUMENTS OR TRANSACTIONS WHICH IMPLICATE ANY VIOLATION UNDER THOSE LAWS OR REGULATIONS ARE PROHIBITED. PRESENTATION OF DOCUMENT(S) THAT ARE NOT IN COMPLIANCE WITH THE APPLICABLE ANTI-BOYCOTT, ANTI-MONEY LAUNDERING, ANTI-TERRORISM, ANTI-DRUG TRAFFICKING, AND ECONOMIC SANCTIONS LAWS AND REGULATIONS IS NOT ACCEPTABLE. APPLICABLE LAWS VARY DEPENDING ON THE TRANSACTION AND MAY INCLUDE UNITED NATIONS, UNITED STATES AND/OR LOCAL LAWS. SHOULD YOU REQUIRE ANY ASSISTANCE, PLEASE CONTACT INTERNATIONAL BANKING DEPT. AT 515-245-5285. WHEN REFERRING TO THIS LETTER OF CREDIT, REMEMBER TO QUOTE OUR REFERENCE NUMBER. 20000426-00. EXCEPT AS OTHERWISE STATED, THIS STANDBY LETTER OF CREDIT IS SUBJECT TO THE VERSION OF THE ICC INTERNATIONAL STANDBY PRACTICES, INTERNATIONAL CHAMBER OF COMMERCE, PARIS, FRA!CE,:2 WHICH IS IN EFFECT AT THE TIME OF ISSUANCE OF THIS LETTE CREDIT.BANKERS TRUSTGLOBAL TRADE SERVICE OPERATIONS THIS IS A COMPUTER GENERATED DOCUMENT; A MANUAL SIGNATUR REQUIRED. I BankersTrust.com • 800-362-1688 BankersTrust 453 7th Street P.O. Box 897 Des Moines, IA 50309 BENEFICIARY: APPLICANT: CITY OF AMES IOWA STATE UNIVERSITY RESEARCH PARK CITY HALL, 515 CLARK AVENUE 1805 COLLABORATION PLACE,SUITE 1250 AMES, IA 50010 AMES, IA 50010 IRREVOCABLE STANDBY LETTER OF CREDIT OUR REFERENCE: 20000426-00 AMOUNT: USD $1,233, 630 .67 ISSUE DATE: JULY 09, 2018 EXPIRY DATE: DECEMBER 31, 2021 EXPIRY PLACE: OUR COUNTERS BY ORDER OF OUR CLIENT, IOWA STATE UNIVERSITY RESEARCH PARK ("APPLICANT") ,WE HEREBY ISSUE OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. 20000426-00 ("LETTER OF CREDIT") IN FAVOR OF CITY OF AMES ("BENEFICIARY") IN THE AMOUNT OF ONE MILLION TWO HUNDRED THIRTY THREE THOUSAND SIX HUNDRED THIRTY AND 67/100 U.S. DOLLARS (USD1,233,630.67) EXPIRING AT OUR COUNTERS ON DECEMBER 31, 2021. FUNDS ARE AVAILABLE UNDER THIS LETTER OF CREDIT UPON PRESENTATION OF YOUR SIGHT DRAFT DRAWN ON US, ACCOMPANIED BY THE ORIGINAL OF THIS LETTER OF CREDIT AND AMENDMENTS, IF ANY, AND A BENEFICIARY'S SIGNED STATEMENT, PURPORTEDLY SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE BENEFICIARY, STATING: "WE HEREBY CERTIFY IOWA STATE UNIVERSITY RESEARCH PARK HAS FAILED TO COMPLETE BY NOVEMBER 30, 2021 CERTAIN IMPROVEMENTS AND UTILITIES IN CONNECTION WITH THE AGREEMENT FOR PUBLIC IMPROVEMENTS, WITHIN THE REAL ESTATE KNOWN AS IOWA STATE UNIVERSITY RESEARCH PARK PHASE III, THIRD ADDITION, AMES, STORY COUNTY, IOWA, AND/OR HAS FAILED TO PAY REASONABLE ENGINEERING AND INSPECTION FEES, ALL AS PART OF THE PLATTING PROCEDURE OF CITY OF AMES. " WE HEREBY AGREE TO HONOR ALL DRAWINGS MADE HEREUNDER IN COMPLIANCE WITH THIS LETTER OF CREDIT BY TRANSFERRING IN IMMEDIATELY AVAILABLE FUNDS THE AMOUNT SPECIFIED IN THE DRAFT TO THE ACCOUNT SPECIFIED BY BENEFICIARY. WE HEREBY UNDERTAKE THAT WE WILL NOT MODIFY, REVOKE OR TERMINATE THIS LETTER OF CREDIT WITHOUT YOUR WRITTEN CONSENT. A PAYMENT OF DRAFT(S) DRAWN UNDER THIS LETTER OF CREDIT IS NOT CONTINGENT UPON OUR RIGHT TO REIMBURSEMENT FROM APPLICANT. RanitorcTri ic+ i-r,m sznn_zF�_iFQQ BankersTrust A, 453 7th Street P.O. Box 897 Des Moines, IA 50309 DRAWINGS) HEREUNDER MUST BE ACCOMPANIED BY THE ORIGINAL OF THIS CREDIT AND AMENDMENTS THERETO. ALL DRAFTS MUST BE MARKED "DRAWN UNDER IRREVOCABLE LETTER OF CREDIT NO.20000426-00 OF BANKERS TRUST COMPANY, DES MOINES, IOWA DATED JULY 09, 2018. " THIS LETTER OF CREDIT IS SUBJECT TO THE RULES OF THE INTERNATIONAL STANDBY PRACTICES ("ISP981-) PUBLISHED BY THE INTERNATIONAL CHAMBER OF COMMERCE, WHICH ARE IN EFFECT AT THE TIME OF ISSUANCE OF THIS LETTER OF CREDIT, AS FROM TIME TO TIME AMENDED, AND THE UNIFORM COMMERCIAL CODE OF IOWA, AS FROM TIME TO TIME AMENDED. WE HEREBY ENGAGE WITH YOU THAT DRAFTS DRAWN HEREUNDER IN COMPLIANCE WITH THE TERMS AND CONDITIONS OF THIS CREDIT WILL BE DULY HONORED IF PRESENTED TO BANKERS TRUST COMPANY, 1ST FLOOR, GLOBAL BANKING, 453 7TH STREET, DES MOINES, IA 50309, DURING REGULAR BANKING HOURS, ON OR BEFORE THE EXPIRATION DATE. z � AUTHO AUTHORIZED SIGNATUR ZED SI NATURE APPMRE FORM BY VICTORIA A. F ILMEYER ASSISTANT CITY ATTORNEY RanitPrcTri ict rnm R(lrl-�F7-l�S2s2 AUTHORIZED SIGNATURE LIST January 2016 To Correspondents of Bankers Trust Company Gentlemen/Ladies: Below, you will find the signatures of all officers authorized to sign on behalf of Bankers Trust Company in accordance with the following instructions: ► Standby Letters of Credit will be signed by any two officers. ► Amendments to Standby Letters of Credit will be signed by any one officer. ► Documentary Letters of Credit may be signed by any one officer. ► Assignment of Proceeds under a Letter of Credit may be signed by any one officer. ► Drafts (Cheques), Payment Orders, and all other types of instruments relating to the payment or transfer of funds will be signed by any one officer listed,unless otherwise stated. ► Draft advices will not be issued regardless of the amount and currency involved. On January, 2016 this list replaces all previous issues until further notice. Cordial yours, Oar- Don Coffin President/Chief Lending Officer Jlm/JME =� BankersTrust 453 7th Street P.O. Box 897 Des Moines, IA 50309 AUTHORIZED SIGNATURE LIST "A" Cont'd Todd Wishman Vice President, Sr. Commercial Relationship Manager AUTHORIZED SIGNATURE LIST "B" Julie e Masimor Tony Braida Vice President/G obal Banking Manager Vice President, Global Banking Sales Officer -1, IA 4�� Lilian Maswai Sara Harrison Global Banking Trade Specialist Vice President, Treasury Services Managing Officer/Global Banking Officer �t Sarah Wiemann Global Banking Payments Specialist R�r�linvcTri ict i^nm Qnn_z��_iFszsz Ow , BankersTrust, 453 7th Street P.O. Box 897 Des Moines, IA 50309 AUTHORIZED SIGNATURE LIST "A" Suku Radia Don Coffin Chief Executive Officer President, Chie ending Officer r j ° )6 _ p� Gary Buelt Robert S. Gagne Vice President, Chief Risk Officer Vice President, Commercial Sales Manager John T Russell Michael W. Coppess Market President —Ames Vice President, Senior Relationship Manager J nifer Cooper, CCIM Joe M. De2oo Vice President, Manager Commercial Real Estate Sr. Commercial Relationship Mgr. IV Jon DoUl' Victoria Facto, CCIM Sr. O4�mmercial Relationship Mgr. IV Vice President Commercial Real Estate Aory Michael Hinrichs Vice President, Senior Lending Officer Vice President, Sr. Commercial Relationship Manager A`��Vm Chris K. Kroeger Ke r� T. McGui` e Assistant Vice President Vice'President, Sr. Commercial Relationship Manager Commercial Relationship Manager John Ruan IV ig Stensland Vice President, Financial Institutions Officer Vice President, Commercial Relationship Manager n I. .. T.... C)r\/\ -71-n 1 nn