HomeMy WebLinkAboutUS Bank Letter of Credit - SLCPPDX03982 - Exp. 11/1/2007bank FiveSrar Servic Guars reed *
U.S. BANK NATIONAL ASSOCIATION SWIFT: USBKUS44PDX
INTERNATIONAL DEPT. PD- OR -TSCE, SUITE 500 TELEX: TRT 192179
111 SW FIFTH AVENUE, PORTLAND, OR 97204 TOLL FREE:866- 359 -2503
P.O. BOX 4412, PORTLAND, OR 97228 -4412 FAX: 503 - 275 -5132
09/06/07
IRREVOCABLE STANDBY LETTER OF CREDIT
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BENEFICIARY: APPLICANT:
TOWN OF VAIL SOLARIS PROPERTY OWNER, LLC
75 SOUTH FRONTAGE ROAD WEST 143 E, MEADOW CREEK DR., SUITE 400
VAIL, CO 81657 VAIL, CO 81657
LETTER OF CREDIT NUMBER: SLCPPDX03982
EXPIRY DATE: NOVEMBER 1, 2007
AT: ISSUING BANK'S INTERNATIONAL BANKING COUNTERS
LOCATED AT THE ADDRESS LISTED ABOVE.
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AMOUNT: USD 191,241.88 (ONE HUNDRED NINETY -ONE THOUSAND
TWO HUDNRED FORTY -ONE AND 88/100 U.S. DOLLARS)
WE HEREBY ISSUE THIS IRREVOCABLE STANDBY LETTER OF CREDIT AVAILABLE
BY PAYMENT BY DRAFT(S) DRAWN AT SIGHT ON U.S. BANK NATIONAL
ASSOCIATION AND ACCOMPANIED BY THE FOLLOWING DOCUMENTS:
A STATEMENT ISSUED AND SIGNED BY THE BENEFICIARY CERTIFYING AS FOLLOWS:
" SOLARIS PROPERTY OWNER, LLC HAS FAILED TO COMPLETE THE LANDSCAPING,
GRADING AND RE- VEGETATION PROJECT NAME: " SOLARIS.""
SPECIAL CONDITIONS:
THIS ORIGINAL LETTER OF CREDIT MUST ACCOMPANY THE DRAWING.
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PURSUANT TO U.S. LAW WE ARE PROHIBITED FROM ISSUING, TRANSFERRING,
ACCEPTING OR PAYING LETTERS OF CREDIT TO ANY PARTY OR ENTITY IDENTIFIED
BY THE OFFICE OF FOREIGN ASSETS CONTROL, U.S. DEPT OF TREASURY, OR
SUBJECT TO THE DENIAL OF EXPORT PRIVILEGES BY THE U.S. DEPT. OF COMMERCE.
DRAFTS DRAWN UNDER THIS CREDIT MUST BEAR THE CLAUSE: "DRAWN UNDER U.S.
BANK NATIONAL ASSOCIATION IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER
SLCPPDX03982
** *THIS PAGE 1 FORMS AN INTEGRAL PART OF CREDIT SLCPPDX03982 * **
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Five Scar Service Guaranteed
THIS CREDIT IS SUBJECT TO "THE UNIFORM CUSTOMS AND PRACTICE FOR
DOCUMENTARY CREDITS" (2007 REVISION) INTERNATIONAL CHAMBER OF COMMERCE
PUBLICATION NO. 600
WE HEREBY ENGAGE WITH YOU THAT DRAFT(S) DRAWN AND /OR DOCUMENTS PRESENTED
AND NEGOTIATED UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS
IRREVOCABLE STANDBY LETTER OF CREDIT WILL BE DULY HONORED UPON
PRESENTATION TO US.
U.S. BANK NATIONAL ASSOCIATION
A MEMBER OF THE FEDERAL RESERVE SYSTEM
STANDB LETTER OF CREDIT
NANCY R. TOUSIT-4ANT
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�, ** *THIS PAGE 2 FORMS AN INTEGRAL PART OF CREDIT SLCPPDX03982 * **