HomeMy WebLinkAboutAmended Irrevocable Letter of Credit - Mutual Bank on behalf of Cleveland Woods Development Co1316 COUNTY -CITY BUILDING
227 W. JEFFERSON BOULEVARD
SOUTH BEND. INDIANA 46601-1930
1865
SOUTHCITY OF UTTIGIEG, MAY
BEND PETE % Ijs 'PUBLICWORKS
February 12, 2019
Shelley Pulaski
Mutual Bank
4100 Edison Lakes Parkway, Suite 300
Mishawaka, IN 46545
RE: Amended Irrevocable Letter of Credit
Company: Cleveland Woods Development Co., LLC
No. 2544726682
Dear Ms. Pulaski:
PHONE 574/235-9251
FAx 574/235-9171
The Board of Public Works, at its meeting of February 12, 2019, approved the above
referenced Irrevocable Letter of Credit in the amount of $61,820 with an amended expiration
date of January 31, 2020 for sanitary sewer and municipal water.
If you have any further questions regarding this matter, please call this office at (574) 235-
9251.
Sincerely,
Linda M. Martin, Clerk
Enclosure
GARY A. GILOT SUZANNA M. FRITZBERG ELIZABETH A. MARADIK LAURA O'SULLIVAN THERESE J. DORAU
IRREVOCABLE LETTER OF CREDIT
LETTER OF CREDIT NO. 2544726682
January 31, 2019
BENEFICIARY: APPLICANT:
Board of Public Works Cleveland Woods Development Co., LLC
Attn: Linda Martin 2010 Went Avenue
City of South Bend Mishawaka, IN 46545
1316 County City Building
South Bend, IN 46601
We are amending our Irrevocable Letter of Credit No. 2544726682, dated February 8, 2006, in your
favor in the amount of USD 61,870.00 (Sixty -One Thousand, Eight Hundred Seventy US Dollars Only)
for the account of Cleveland Woods Development Co., LLC, 2010 Went Avenue, Mishawaka, Indiana
46545, to an amended expiration date of January 31, 2020.
Funds are available by your draft at sight drawn on MutualBank and accompanied by the following
documents:
Beneficiary's signed statement reading as follows:
"Cleveland Woods Development Co., LLC has failed to complete the required Sanitary Sewer and
Municipal Water in Fernwood — Section III."
Partial drawings are permitted.
This letter of credit will expire January 31, 2020.
We hereby agree with you that all draft(s) drawn under and in compliance with the terms of this letter
of credit will be fully honored upon presentation, as specified herein.
All drafts drawn under this letter of credit must be endorsed hereon and must bear the clause: "Drawn
under MutualBank Letter of Credit No. 2544726682, dated January 31, 2019 " and must be presented
at 4100 Edison Lakes Parkway, Suite 300, Attn: Business Banking Dept., Mishawaka, Indiana, 46545
on or before January 31, 2020.
All draft(s) drawn under this letter of credit must be presented with original letter of credit and any
and all amendments.
Except as otherwise expressly stated herein, this credit is subject to the Uniform Customs and Practice
for Documentary Credits, 1993 Revision, ICC Publication No. 500.
Sincerely,
Sl� 'trl;aski
Assistant Vice President