HomeMy WebLinkAboutCorrespondence Miscellaneous 11/21/2006
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UMPQUA.:
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. STANDBY IRREVOCABLE LETTER OF CREDIT
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Lud\.es oind (~C:lll'l~mel1',.
'23200595
$128,00000. .
November 20, 2006
December 05.2007'
. Umpqua Bank
~ -Oregon Industrial Lumbe~ Products. Inc.
City of Springfield
.225 Srll Street
~Springfield. OR 97477- .. .
Ir~nprovements on Property'. .
Parking L6t Improvements
3950 Marcola Road ."
DRe .2006-00031"',"..
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.NUMB,:R:
AMOUNT:
DAlE: .
EXPIR.ATIOI\ DATE:
. .ISS1'ER:. .
. CL:STO:V1ER:
. BENEFICIARY:':'
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.;'j 'rOr'~NEY
REFERENCE:
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Umpqua Bank hereby issues its n'revocable stundby Letter ~fCredit In favo"r of City of Springfield, for the account"
of the.above.named Customer In the amount of One Hundred Twenty.Eight Thousand DoUars: $128,000.00 (V,S.)'
available by vou'; dratipayable at SIght. Presentment,i, to be made at Umpqua Bank 250 NE Garden Valley Blvd,
Suite"12. Roseburg OR 97470.' .' . .
Tllls' I ,etter of Credit Issued w"cQv,erimpl:o\'ement on property.
r!n.dis ,3re I<Yb:: JCl'ompanied by:e
(. (\ swtemr:ntsiened by an" authorized officer of Benefic(ary certifying that Customer is in default under the terms
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of your agreement \~:ith \:ustomer; and . . . . .
'2. ,~\ true' c'opy'or'the invoict's{s) to the CusIt5pler, INhich support the draft.
'vVe hereby il'~I"t:t' \,vith 'the' drawer. t-l~dor~e{s' and bona fide holders of drafts'dra~n under and in cornpliance witl;th~
'terms of this Lc'n~r of Credit that such drafts will be duly honored upon ,presentation and delivery to.us of the
~pecitjed documents. if drawn and presented for negotiation on or be'tore the Expiration Dare stated ab~ve. J[ which
flllll: this Lener orCredit expil:ts. - . ' . '.
All,dratts drawn on this Letter of Credit must be marked:. "Drawn Under Umpqua Bank Letter or Credit No.
232(0)95.dated NOl,'ember 20. 200~ for the account of Oregon Industnal Lumber Products, Inc. ". Partial d~'a\Vings'
are perrnined. ' '
F..\(tpl as Dthtl"\vis\:' staled'. tbis-LetterofCredit 'is subject tu the lncemacional.Standby'Practices 1998, Ulternational
Clumbt:rofCummen:epublic3.tionnLlITI_ber590. ";" '~'.I '. .
Sincerely 'bate Received: I )..{ . .
Planner: LM' .
UMPQLA B 'i-1 f: '
. By j L,
j3hnMlei h. Cred<t M~;;;ger tor Lane Cou;;-ty
.,',,', .Added per
with John
3:40 p.m.
telephone conversatiot
Raleigh on 11/27/06
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