HomeMy WebLinkAbout790749.tiff G 1'1
Greeley national Bank
June 22, 1979
Mr. Gil Olson
Weld County Zoning and Planning
Centennial Center
Greeley, CO 80631
Re: Knaus Subdivision
Dear Mr. Olson:
Enclosed is our Letter of Credit, number 49, in the amount of
$50,000 issued in connection with subdivision improvements in
Knaus Subdivision, Second Filing.
You will note that we have extended the Letter to June 2, 1982
to allow time for a resolution of the water storage tank situa-
tion.
We must have a current listing of the requirements that you have
placed under this Letter for our records.
If you have any questions concerning the Letter, please let us
know.
Sincerely,
THE GREELEY NATIONAL BANK
JameDNW. Parker III
Vice P sident
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Nanning Commission °) WELD COUNTY
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Post Office Box 1098 • Greeley,Colorado 80631 • Phone(303) 356-1234
Greeley National Bank
Standby
Irrevocable Letter of Credit
No. 49
Date June 18, 1979
TO: County of Weld
State of Colorado
Gentlemen:
We hereby open our Irrevocable Letter of Credit in your
favor in the amount of Dave Knaus Jr. and Katherine Knaus
Dollars ($50,000.00 ) available by drafts at
3 days after sight and subject to the following terms and
conditions :
1. Drafts All drafts must be drawn on Greeley National
Bank on or before June 2, 1982 , and must bear the
reference : "DRAWN ON GREELEY NATIONAL BANK LETTER OF CREDIT
NO. 49 , DATED June 18, 1979
2. Notation This is a notation letter of credit.
Each draft must be accompanied by this Letter of Credit for
endorsement by Greeley National Bank of the amount and date of
each draft and the balance remaining. This Letter of Credit
must be surrendered to Greeley National Bank when exhausted.
3. Purpose This' Letter of Credit is issued for the
account of Dave Knaus Jr. and Katherine Knaus
Disbursements will be made under this Letter of Credit to pay
for: Subdivision improvements including grading, paving, fire hydrants, street signs,
and boxes.
This Letter of Credit relates to the following described real
property: Tots in 2nd and third filing on the Knaus Farm
4 . Documents All drafts must be accompanied by the
following documents:
a. Presentation of this Letter of Credit for notation
Post Office Box 1098 • Greeley,Colorado 80631 • Phone(303) 356-1234
5. Other Terms and Conditions This Letter of
Credit shall not be transferable. It shall be governed by
the laws of the State of Colorado, including the Uniform
Commercial Code as in effect in that State. This Letter of
Credit is NOT subject to the Uniform Customs and Practice
for Documentary Credits.
6. Obligation of Issuer The Greeley National Bank
�. agrees with the drawers, endorsers, and good faith holders of
drafts drawn under and in compliance with the terms of condi-
tions of this Letter of Credit that Greeley National Bank will
duly honor such drafts ur.on pressittatiDn. t.J this office.
THE ELEY NATIONAL NK
By Its is President
DATE PAID BY AMOUNT OF DRAFT BALANCE REt4AINING 1
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