HomeMy WebLinkAboutRE: Letter of Credit , _ , .
� � � �- � � ' �. .y""�t� :a �� , � '�aj� 3 ,� "' 4�:�`�''�'+a � ..•-^•�y � .���. � , r-��� .
• a '
.. � ,
r ... r ' i ' "' -.
...
...:g . � i"i�1 ' . . �� R, ��"'"'>�: �'a
i �� � ' �
� ,��q :ary� ..�-�-' I �++, � ,. � �,. ,�r> �,,.�
-r� , �
.
- .- ,
?� ' � � '� , k ..
.� �, v,
�.� � .,:� �. . ���� �����.
� * �1Ny
�•�- �.,..� - �':
_� ���-� �a �'.�',�,�- �,_
� 1���,.;.:�-d� /
,�,�'>�*�_:,.�''- �i.�
. - �
November 10, 1994
To: City of Orono
P.O. Box 66
Crystal Bay, MN 55323
We open inevocable Standby Letter of Credit Number 10008624 in the amount of Six Thousand Seven
' Hundred Fifty and 00/100 U.S. Dollars ($6,750.00}.
In favor of yourselves.
For the account of Streeter & Associates, Inc.
E�ires June 15, 1996 at our counters.
Available against drafts drawn at sight on AmeriBank, 1809 Plymouth Road South, Minnetonka, MN
55305 bearing the clause, "Drawn under Standby Letter of Credit No. 10008624 of AmeriBank".
ACCOMPANIED BY:
l. A beneficiary's sib e� statement stating: "Streeter & Associates, Inc. has failed to make certain
payments required to be made for the improvements or complete the improvements to the
satisfaction of the City, pursuant to the Restoration Agreement between the City of Orono and
Streeter & A.ssociates, Inc."
2. This original Letter of Credit for endorsement.
SPECIAL CONDITION(S):
1. This Letter of Credit is automatically renewable without amendment for an additional six month
period from the present e�cpire days or any future expiry date, unless sixty (60) days prior to said
expiry date we shall notify you in writing, by registered mail, that we have elected not to renew this
letter of credit, but in no event shall the expiry date extend beyond June 15, 1996.
Payment will be made at the count of AmeriBank, 1809 Plymouth Road South, Minnetonka IVIN 5�30�,
this credit is subject to the uniform customs and practice for documentary unless otherwise stated, all
documents are to be forwarded to us by mail, or hand delivered to our counters. Documents to be
� directed to: AmeriBank 1809 Plymouth Road South, Minnetonka, MN 55305. We hereby engage w�ith
drawers and/or Bona Fide holders that drafts drawn and negotiated in confor ' with the terms of this
credit will be duly honored upon presentation,
��� ' � etonka Minnesota
;
,;. ;
� ��: �_ )
'�/ ce Pres'id�nt Vice resident
—" �\
VALLEY WEST OYBORO COiJi�'I'RYSIDE RIDGEDALE
4200 W.Old Shakopee Road 9742 Lvndale Ave.S. i?00 W.Old Shakopee R�ad 1809 PIymouth Road S.
Bloomington,MN 5a437 (612)8849291 Bloomington,l'Ll�f 55420 (612)881-6519 Bloomington,�1TiV 55438 (612)441-9130 Minnetonka,NTiH 55305 (61'l),`r4b-b0fi0
Fax(61218844406 Fas(612)881-0902 Fax(612)546-7ll4