HomeMy WebLinkAbout4721 S TIMBERLINE RD - CORRESPONDENCE - 7/7/2000ISSUING BANK:
Issuing Date:
Amount:
Beneficiary
City of Fort Collins
PO Box 580
Fort Collins, CO 80522
AABC*
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WEST TEXAS * AUSTIN
IRREVOCABLE LETTER OF CREDIT
AMERICAN BANK OF COMEMRCE
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May 9, 2000 Letter Of Credit No. 476
Thirty One Thousand Two Hundred Fifty Dollars and no/100 ($31,250)
Applicant:
Colorado Timberline LLC
2574 741h St. Ste. 210
Lubbock, TX 79423
We hereby establish our irrevocable Letter of Credit No. 476 in your favor for the account of Colorado Timberline, LLC, which is available up to an
aggregate amount of Thirty One Thousand Two Hundred Fifty Dollars & no/100 ($31,250) by presentation of your Draft(s) drawn on us at sight
when accompanied by the following:
Beneficiary's statement purported to be signed by an authorized representative of the city of Fort Collins reading: "We hereby certify that the
installation of the required landscape and irrigation improvements for Harmony Village PUD, phase I have not been completed on Harmony Village
PUD, Lot 10 in compliance with applicable statutes, ordinances, contracts or other applicable rules and regulations, or that the improvements are
defective."
This irrevocable Letter of Credit shall be honored up to the amount of Thirty One Thousand Two Hundred Fifty Dollars and no/100 ($31,250)
available by draft(s) on American Bank of Commerce until final acceptance of the project by the City of Fort Collins.
Draft(s) must bear the clause "Drawn under American Bank of Commerce Letter of Credit No. 476 and be presented at the offices of American Bank
of Commerce Hwy 62-82 Wolfforth, Texas. Attention Letter of Credit Department or at the place of business of any successor to the American Bank
of Commerce.
American Bank of Commerce hereby engages with you that draft(s) drawn under and in compliance with the terms of this Letter of Credit No. 476
will be duly honored upon presentation at our offices as stated above. Draft(s) must be presented not later than July 10, 2000.
Except so far as otherwise stated, this credit is subject to the laws of the State of Texas.
The original of this letter of this letter of credit must be presented by the City of Fort Collins with withdrawal draft(s) upon the stated account.
The original of this letter of credit shall be returned to the applicant upon final acceptance of the improvements by the City of Fort Collins.
For assistance please call Victor Garcia (806) 775-5311 at American BankM�tv��0 Drawer 9) Wolfforth, Texas 79382.
The required landscaping has been inspected and
approved. We hereby surrender this letter of credit.
Victo� ♦ - cia �
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Authorized Signature Date Loan Officer Ruature/Tlde
AMERICAN BANK OF COMMERCE ( f
(806) 775-5000 P.O. DRAWER 9 WOLFFORTH, TEXAS 79382-0009