HomeMy WebLinkAboutTide Group, IncNORTH FORK BANK
12/31/2004
BENEFICIARY:
TOWN OF SOUTHOLD
SOUTHOLD TOWN ANNEX
54375 MAIN ROAD, PO BOX 1179
SOUTHOLD, NY 11971
RE: IRREVOCABLE STANDBY L/C NUMBER 3330001013 FOR USD99,000.00
FOR ACCOUNT OF:
TIDE GROUP INC.
275 CARDINAL DRIVE
MATTITUCK, NY 11952
Gentlemen:
By order and for account of Tide Group Inc., 275 Cardinal Drive, Mattituck, NY 11952,
we hereby issue our irrevocable Letter of Credit No. 3330001013 in your favor for up to
an aggregate amount of USD99,000.00 (Ninety Nine Thousand and 00/100 United States
Dollars), effective immediately and expiring at our counters at 1001 Avenue of the
Americas, New York, NY 10018 on December 30, 2005 at 3:00 p.m.
Funds under this Letter of Credit are available by your sight draft(s) drawn on us,
indicating our Letter of Credit No. 3330001013 and accompanied by the original of this
Letter of Credit and subsequent amendments if any.
Draft(s) drawn must state, "Drawn under North Fork Bank Letter of Credit No.
3330001013 dated December 31, 2004".
We hereby engage with you to honor your draft(s) as specified above when accompanied
by documents in conformity with the terms and conditions of this Letter of Credit when
presented to us at North Fork Bank, 1001 Avenue of the Americas, New York, NY 10018
Attention: Trade Finance Department on or before the expiration date.
Address all correspondence regarding this Letter of Credit to the above mentioned
address mentioning specifically our Letter of Credit No. 3330001013.
It is a condition of this Letter of Credit that it shall be deemed automatically extended,
without amendment, for 1 (one) additional year from the present expiration date, unless at
least forty five (45) days prior to any such date, we shall notify you in writing by certified
mail at the above listed address that we elect not to consider the Letter of Credit renewed
for any such additional period. In such event the Letter of Credit may be drawn on in the
full amount. However, this Letter of Credit will not be renewed beyond December 29,
2006.
Except as far as otherwise expressly stated herein, this Letter of Credit is subject to the
Uniform Customs and Practice for Documentary Credit (1993 Revision), International
Chamber of Commerce Publication No. 500.
iA'UTHORIZED SIGNATURE
Vice President
NORTH FORK BAN~
1001 Avenue of the Americas, New York, NY 10018, Teleph{ ne: (.12) 764-0775 Fax: 121.) 944-5447
Telex: 49665245 NFORK BK, SWIFt "NFBKUS33'
Neville, Elizabeth
To: Kalin, Carol
Subject: RE: Tide Group Inc.
Thank you very much.
.... -Original Message .....
From: Kalin, Carol
Sent: Monday, 3anuary 10, 2005 3:53 PM
To: Neville, Elizabeth
Subject: RE: Tide Group ][nc.
Not from us, maybe Henry Raynor took it down to the Attorneys. O.K. you'll be getting everything soon.
..... Original Message .....
From: Neville, Elizabeth
Sent: Monday, January 10, 2005 3:51 PM
To: Kalln, Carol
Subject.' RE: 'lqde Group [nc.
It came to me by inter-office mail, I assumed from the Planning Board? O.K. rll wait to hear from you on it, to
receive a letter with the Planning Board resolution. Thank you.
Betty Neville
..... Original Message-
From: Kalin, Carol
Sent= Monday, .lanuary 10, 2005 3:48 PM
To: Neville, Elizabeth
Subject:
We ware wondering why we didn't get it and where it was. You keep it. We have a copy. It's on our agenda
tonight to recommend it to the Town Board so you'll be getting the paperwork as soon as they vote on it and
Jeri signs it. Thanks for letting us know. rll let Mark know.
..... Original Message- ....
From"' Neville, Elizabeth
Sent: Monday, .lanua.y 10, 2005 3:45 PM
To.' Kalin, Carol
Subject: Tide Group 1nc.
I received the NFB letter of credit for Tide Group, Inc. There was no letter or resolution with it. I don't
seem to see any back up for it here in my subdivision bonds? What is the status of it? Please advise.
Thank you.
Betty