HomeMy WebLinkAboutLOC #1350
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4646 Dakota Street S.E.
Prior Lake, MN 55372-1714
December 28, 2007
Bob Facente
Prior Lake State Bank
P.O. Box 369
16677 Duluth Avenue SE
Prior Lake, MN 55372
RE: Prior Lake Baptist Church
Irrevocable Letter of Credit No. 1350
Dear Mr. Facente:
The City of Prior Lake hereby releases the above listed Letter of Credit, and via this
letter, is returning the original copy of Irrevocable Letter of Credit No. 1350, issued for
the Prior Lake Baptist Church.
If you have questions, please contact me directly at 952-447-9812.
Sincerely,
~Q.~
U~ne ~ansier, AICP
Planning Director
Enclosure
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Phone 952.447.9800 / Fax 952.447.4245
PRIOR LAKE STATE BANK
City of Prior Lake
16200 Eagle Creek Avenue
Prior Lake, MN 55372
March 28, 2003
IRREVOCABLE LETTER OF CREDIT NO. 1350
EXPIRATION DATE: March 28, 2005
Dear Sir:
Prior Lake State Bank hereby establishes an Irrevocable Letter of
Credit in the amount of Four Thousand Eight Hundred Seventy Five
and 00/100 ($4,875.00) U.S. Dollars in your favor for the period
beginning March 28, 2003 and expiring March 28, 2005, for the
account of Prior Lake Baptist Church of Prior Lake.
This credit shall be available against your draft at sight on us
accompanied by the original Letter of Credit.
This Letter of Credit sets forth in full terms of our undertaking.
Such undertaking shall not in any way be modified, amended or
amplified by reference to any document, instrument or agreement
referred to herein or in which the Letter of Credit is referred to
or to which this Letter of Credit relates. Any such reference
shall not be amended to incorporate herein by reference any
document, instrument or agreement.
Your draft so drawn must bear this clause: "Drawn under Prior Lake
State Bank, Prior Lake, Minnesota, Irrevocable Letter of Credit
dated March 28, 2003.
We hereby agree with the drawers, endorsers and bona fide holders
of all drafts drawn on and in compliance with the terms of this
credit that such drafts will be duly honored upon presentation to
the drawee. In connection herewith, we specifically waive our
rights (if any) including but not limited to Section 5-122 (1) A &
B of the UCC Code, to defer or delay honor of any sight draft.
This Letter of Credit is subject to the Uniform Customs and
Practices for Documentary Credit (1993' Revision) International
Chamber of Commerce Publication No. 500.
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J;lii reitbach
ior Vice President
Two Locations:
P.O. Box 369,16677 Duluth Avenue SE, Prior Lake, MN 55372-0369 (952) 447-2101 FAX (952) 447-3337
14033 Commerce Ave NE, Prior Lake, MN 55372 www.priorlake.com