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LETTER OF CREDIT N0.22489
DATE: Fl/BRUA:1tY 16, 2005
AMOUNT: $4,127.20
City of Spokane Valley
11707 E. Sprague, Suite 106
Spokane Valley, WA 99206
Attn: John Hohman
Gentlemen:
We hereby establish our Irrevocable Standby Letter of Credit 1\to. 22489 in your favor for the
account of J. GRAI~rf PERSON, 11219 C. Sundown Dr., Spokane, WA 99206 up to the aggregate
amount of FOUR T110USA1~rD ONE HUNDRED TWENTY SEVEI\i AND 20/100 --------Dollars
($4,127.20) U.S. ctu-renc}', available by your draft(s) drawn at sight on us and presented to
Washington Trust Bank on or before I:E:BRUA.RY 16, 2006 or any extended date covering SR 27
Mansfield Road Construction Project and accompanied by the following:
1. A sigmed statement from the City of Spokane Valley reading exactly as
follows:
"J, the undersigned duly authorized representative of the City of Spokane
Valley, hereby certify that the draft drawn under tlus Letter of Credit
represents the amount of money required to complete the subdivision
improvements and/or other work as is incidental and related thereto in
accordance with the drawings and specifications as submitted to and
approved by the City of Spokane Valley."
2. The original of this Letter of Credit.
ft is a condition of this Letter of Credit that it shall be automatically extended, without amendment,
for an additional period of one year from the present expirfation date or each titrure expiration date,
unless we have notified you in writing not less than thirty (30) days before such expiration date, that
we elect not to renew this Letter of Credit. All written notification shall be sent via registered mail.
All drafts presented wider the credit trust contain the clause "Drawn under Waslzin3ton Tn~st Bank.
Letter of Credit No. 22489".
Washington Tnisi Fininciai Center P. O. Box 2127, Spokane, 1Vashington 99210-? 127 (SU9) 353-4177 i'ax (S09) 353-3yU5
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City of Spokane Valley
Tnrevocable Standby Letter of Credit No. 22459
FEBRUARY 16, 2005
Page Two of Two
Any and all banking charges, other than those of the issuing bank, are for the account of the
beneficiary.
1~Ve hereby engage with the drawers and bona fide holders of drafts draum wider and in compliance
with the terms of this Letter of Credit that the dralls will be duly honored upon presentation ~u~d
delivery of documents, as specified, to 1Vashington Trust Bank, International Department, 717 ~V.
Sprague Ave.; 10th Floor, Spokane, VJasliington 99201., on ar before FEBRUARY 16, 2006 or any
extended date.
All drawings under this credit will be governed by the Uniform Customs & Practice for
Documentary Credits (1993 Revision) international Chamber of Commerce Publication hTo. 500.
Sincerely,
~ ~~~--
Rcnnc R. Ditton
Assistant Vicc President
International Banking Department
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