HomeMy WebLinkAboutWinhaven Associates, LLCNorth Fork Bank
05/18/2005
BENEFICIARY:
TOWN OF SOUTHOLD
TOWN HALL
53095 STATE ROAD 25
SOUTHOLD, NY 11971-0959
RE: IRREVOCABLE STANDBY L/C NUMBER 3330001115 FOR USD588,343.00
FOR ACCOUNT OF:
WINHAVEN ASSOCIATES LLC
7 WELLINGTON ROAD
MATINECOCK, NY 11560
Gentlemen:
By order and for account of Winhaven Associates LLC, we hereby issue our irrevocable Letter
of Credit No. 3330001115 in your for up to an aggregate amount of US$588,343.00 (Five
Hundred Eighty Eight Thousand Three Hun&ed Forty Three and 00/100 United States Dollars),
effective immediately and expiring at our counters at 1001 Avenue of the Americas, New York,
NY 10018 on May 17, 2006 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. 3330001115 and accompanied by the following documents:
1. The original of this Letter of Credit and subsequent amendments if any.
2. Beneficiary's siloaed statement certifying, "Winhaven Associates LLC has failed to construct,
install, make, repair and maintain the improvements shown on the subdivision plat or map
entitled, "The Fields At Mattituck" dated January 1, 1996, last revised on July 30, 2004 prepared
by Young & Young and comply with all other conditions and requirements of a Resolution of the
Southold Town Planning Board adopted on September I3, 2004 and the Stipulation of
Settlement and Schedule A attached to Said Resolution".
Draft(s) drawn must state, "Drawn under North Fork Bank Letter of Credit No. 3330001115
dated May 18, 2005".
Partial drawings are permitted.
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 ad&ess
mentioning specifically our Letter of Credit No. 3330001115.
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.
/(7
Vice President
NORTH Ft)RK
1001 Avenue of thc Americas, New York, NY 10018, Telephone: (212l 76441775, Fax: 1'212) 944-5447
Telex: 49665245 NFORK BK, SWIFT "NFBKUS3Y'