1999-08-25 Packet - Laserfiche WebLink

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• ..� c.' `+ ' �A"•HPh- t _ ( m r:• .. .. b F _ ; rfl V *+ra ffia, ' June 28, 1999 IRREVOCABLE LETTER OF CREDIT #441 BENEFICIARY: APPLICANT: City of Centerville R&R Leasing, Inc. Attn: City Administrator 6805 20` Avenue South 1880 Main Street Centerville, MN 55038 Centerville, MN 55038 • Amount: $188,488.00 Expires: June 28, 2000 Gentlemen: We hereby establish our Irrevocable Letter of Credit # 441 in favor for the account of R&R Leasing, Inc. in the amount of $188,488.00, available upon presentation of your draft(s) drawn on 21" Century Bank — North at sight and accompanied by: 1) A statement executed by an authorized official of City of Centerville certifying that R &R Leasing, Inc. has failed to perform its obligations and as such failure entitles City of Centerville to draw on Irrevocable Letter of Credit #441. 2) Original of this Irrevocable Letter of Credit #441. We engage with you that draft(s) drawn under and in accordance with the terms of this Letter of Credit shall be duly honored upon presentation and delivery of documents as specified above if drawn and negotiated on or before the expiration date indicated above. Draft(s) must be marked "drawn under 21' Century Bank — North Irrevocable Letter of Credit #441 dated June 28, 1999." Except so far as otherwise stated, this Irrevocable Letter of Credit is subject to the "Uniform Customs and Practice for Documentary Credit (1983 Revision). " International Chamber of Commerce Publications No. 400. " Century— North 4 Lindber ice Presi. nt - • m Lake Office 9380 Central Avenue N.E. Blaine, Minnesota 55434 ■ (612) 767 12301 Central Avenue N.E. Blaine, Minnesota 55434 ■ (612) 754-21ST • fax (612) 755 -9186 17635 Central Avenue N.E. Ham lake, Minnesota 55304 ■ (612) 434.215T 14 fax (612) 434 9 98