HomeMy WebLinkAbout3786 Lupine Dr_Letter of Credit.pdf IRREVOCABLE STANDBY LETTER OF CREDIT
Letter of Credit Number: 863041 5
Amount: U.S. $ 2,720.00(two thousand seven hundred and twenty dollars and zero cents U.S.DOLLARS)
This Letter of Credit is issued on September 15, 2016 by Issuer in favor of the Beneficiary for the account of Applicant. The parties' names
and their addresses are as follows:
APPLICANT:
RPM EXCAVATING &PUMPING,LLC D/B/A RPM CONSTRUCTION
Entity Type:Limited Liability Company
P.O. Box 6405
Vail, CO 81657
BENEFICIARY:
TOWN OF VAIL PUBLIC WORKS DEPARTMENT
Entity Type: Domestic Government Unit
1309 Elkhorn Drive
Vail,CO 81657
ISSUER:
FIRSTBANK
10403 West Colfax Avenue
Lakewood, CO 80215
1. LETTER OF CREDIT. Issuer establishes this Irrevocable Standby Letter of Credit (Letter of Credit) in favor of Beneficiary in the amount
indicated above. Beneficiary may draw on this Letter of Credit with a Draft (or Drafts, if the maximum number of drawings is greater than
one). Each Draft shall be signed on behalf of Beneficiary and be marked "Drawn under FirstBank Letter of Credit No. 8630415 dated
September 15, 2016." Drafts must be presented at Issuer's address shown above on or before the Expiration Date. The presentation of any
Draft shall reduce the Amount available under this Letter of Credit by the amount of the draft.
This Letter of Credit sets forth in full the terms of Issuer's obligation to Beneficiary. This obligation cannot be modified by any reference in this
Letter of Credit,or any document to which this Letter of Credit may be related.
This Letter of Credit expires on the Expiration Date.
2. DRAWINGS. Beneficiary shall be permitted to make multiple drawings on this Letter of Credit. The maximum number of drawings that may
be made on this Letter of Credit is one. "Draft" means a draft drawn at sight.
3. DOCUMENTS. Each Draft must be accompanied by the following, in original and two copies except as stated:
A.The original Letter of Credit,together with any amendments.
Issuer shall be entitled to accept a draft and the documentation described above, as required by the terms of this Letter of Credit, from any
person purporting to be an authorized officer or representative of Beneficiary without any obligation or duty on the part of Issuer to verify the
identity or authority of the person presenting the draft and such documentation.
4. EXPIRATION DATE. This Letter of Credit expires at the close of business at Issuer's address at 6:00 PM Mountain Time (Time) on
September 15, 2018 (Date), Issuer agrees to honor all Drafts presented in strict compliance with the provisions of this Letter of Credit on or
before the Expiration Date.
5. NON-TRANSFERABLE. This Letter of Credit is not transferable,
6. APPLICABLE LAW. This Letter of Credit is governed by the Uniform Customs and Practice for Documentary Credits, 2007 Revision,
International Chamber of Commerce Publication No. 600 (UCP), or any later version or amendment. This Letter of Credit is also governed by
the laws of Colorado, except as those laws conflict with the UCP.
ISSUER:
First Bank 2
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