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C I T Y
OF CLEARWATER
POST OFFICE BOX 4748
C l EA R W ATE R, F lOR I D A 3 4 6 1 B - 4 7 4 8
Office of
Finance Director
813/462-6930
IECEI,!I
MAY 0 It 1995
May 4, 1995
CITY CUIK DEPt.
Chemical Bank
standby Letter Of credit Department
55 Water street
17th Floor, Room 1708
New York, New York 10041
LETTER OF CREDIT FOR CABLE FRANCHISE
Letter of Credit No. C-213920
Gentlemen:
The city of Clearwater, Florida, hereby releases Chemical Bank from
its Letter of Credit dated February 28, 1993, for the benefit of
vision Cable Communications, Inc., in the amount of $20,000.00.
The enclosed letter of credit is returned to you in ORIGINAL. This
Letter of Credit has been replaced by a new assurance from another
financial institution.
Sincerely,
~',(~.a./~t ai... ..:J....-nl" T71.P~---
Margaret L. simmons CPA
Finance Director
MLs/sn
Enclosure
cc: Mr. Bill Han, Time Warner Cable
Betty Deptula, city Manager
Pamela K. Akin, city Attorney
cyndie Goudeau, city Clerk
n
'-~ /7,,00/ '. Ci/
"Equal Employment and Affirmative Action Employer"
{J.
-
~~.I~8AN< 1 '"
,. International Operations _
P.O. Box 44, Church Street Station
New York, N.Y. 10008
Cable Address: Chemsam New York
..
ISSUE "DATE: FEBRUARf Z.B. 1983
Lie NO.: C-21392..'1 I
Advising Bank
[. ""-........... .,.,..... ........ ........................ DIR ECT ............................................]
...--.-.................'---....~..................-: -- .......................~........................................
. ~ APPLICANT:
VISION CABLE COMMUNICATIONS, INC.
110 EAST 59TH STREET
NEW YORK. N.Y. 10022
TTN: MR. ARTHUR SHULMAN
]
M U Beneficiary
A
I CITY OF CLEARWATER
.!: 112 S. OSC EOLA AVENUE
6 CLEARWATER. FL. 33316
]
[AMOuNT: USD 20.000.00
(TWENTY THOUSAND.AND 00/100
UNITED STATES DOLLARS)
]
GENTLEMEN:
WE HEREdY OPEN OUR IRREVOCABLE LETTER OF CREDIT NO. C-213920 IN YOUR FAVOR
AVAILABLE BY YOUR DRAFTS OnAWN ON CHEMICAL BANK, COMMERCIAL LETTER OF CREDIT
DEPARTMENT, 55 WATER STREET. NEW YORK, N.Y. 10041. AT SIGHT. FOR ANY SUM(S)
NOT EXCEEDING IN TOTAL US$ZO,OOO.OO (TWENTY THOUSAN0 DOLLARS AND 00/100 UeS~
CURRENCY) FOR ACCOUNT OF VISION CABLE COMMUNICATIONS, INC., 110 EAST 59TH
STREET, NEW YORK, NMYC 10022.
D~AFTS MUST BE ACCOMPANIED ~Y:
YOUR SIGNeD WHITTEN CERTIFICATION REi\uIi~G:
fiVISION CABLE COMMUNICATIONS. INC. (THE ~COMPANY") 110 EAST 59TH STRE~T~ NEW
YuRKy N.Yo 10022 HAS BeCOME INCEBTED TO US PURSUANT TO THE PROVISIONS AND
REQJIREMENTS OF SECTION 16 OF ORDINANCE NO. 2064 OF THE CITY OF CLEARWATER
ADOPTED FEBRUARY 21, 1930~ WHICH ORDINANCE GRANTED A CABLE TELEVISION
FRANCHISE TO THE COMDANY9 A~D THAT WE HAVE NOT RECEIVED THE FULL AMOUNT OF
SUCH INDESTEDNESS AFTER NOTICE TO THE COMPANY AS PROVI~EO IN SAI) SECTION 16".
SUCH CERTIFICATE MUST FURTHER ENUMERATE THE AMOUNTS PAYASLE TO YOU FOR TH~
ACCDUNT OF THE COMPANY.
IT 15 A CONDITION JF THIS LETTE~ JF CREDIT THAT IT SHALL ~E DEE~ED
AUTOMATICALLY EXTE~JED wITHuUT AMEND~ENT iQR ONe YEAR FROM THE PRESeNT CR ANY
FtJTURE ,EXPIRATION JATE HEREOF9 FINALLY EXPIRIN:; GN M,\;:{Cr. 39 1995'1 UNLESS
THIRTY DAYS PRIOR TO ANY SUCH DATE ....E SH:.LL NCTIFY Y:JU BY RE;ISTERED LETTeR
THAT ~E ELECT NOT TO C;);'liSIQEF.. TEIS LETTEP. OF CRE;:;IT f?E~.JE"':ED FOR SUCH
ADDITIONAL ?ERI8J_
IT IS HEREBY UNDERSTOOD AND AGREED THAT THIS LETTER OF CREDIT MAY NOT 3E
CANCELLED NOR THE INTENTION NOT TO RENEW BE AFFECTED SY THE ISSUER UNTIL SUCH
THIRTY (30) DAYS WRITTEN NOTICE IS GIVEN TO THE CITY. SE REGISTERED MAIL. OF
SUCH INTENTION TO CANCEL OR NOT TO ~ENE.-.'.
-CONTINUE:]-
LL/~
Authorized Signature
C-213920- -OOI-LI-OI-02-01
Provisions applicable .0 this credit _ 1 _
This credit is subject to the Uniform Customs and Practice for Documentary Credits ('ffi74 Revision). International Chamber of Commerce Publication No. 290
------
~'-ICAL8AN< 1 t
International Operations
P.O. Box 44, Church Street Station
New York, N.Y.1000B
ISSUE-DATE: FE5RuA~1 fa" 1983
l/C NO.: C-21392ti .;.
,.... ~
, '..
Cable Address: Chemsam New York
Advising Bank
-.................................JO..A................. DIRECT ...........................................................]
~~~~~~~~~~~ ~~~~~~~~~~~~~~
Q APPLICANT:
.'.VISION.' CABL.' E COMMUNIC. ATIGNS" INC.
110 EAST 59TH STREET
NEW YORK. N.Y. 10022
TTN: MR. ARTHUR SHULMAN
]
Beneficiary
CITY OF CLEARWATER
112 S. OSCEOLA AVENUE
CLEARWATER~ FL. 33316
]
[AMOUN T: US;) 20., 000.. OJ
(!W~~TY_THO~SA~O AND 00/100
U,'d ~ 1::D .:> TATES uOLLARS)
]
ACH DRAFT MUST BEAR UPO~ITS FACE THE CLAUSE ~0~A~N U~DER CHEMICAL BANK
_ETTER OF CREDIT NO$ C-213920 DATED FE0RUARY 23., 1983"c
'E HEi~EBY AGREE WITH YOU THAT DP.AFTS D7<AWhl UNOER AND U..t.ACCORDANCE ~nTH THE
~ERMS OF THIS CREeIT WILL 3E DULY HONORED UPON PRESENT4TION AND DELIVERY OF
JOCUMENTS AS SPECIFIED IF PRESENTED AT THIS OFFICE COMMERCIAL LETTER ~F CREDIT
'cPT.., 55 WATER STREETy iJE \~ YORK N. y", 1 0041 ON OR BEFORE :"lAPCH 3" 19849 OR
~NY AUTOMATICALLY EXTENDED DATE AS PROVIDED FUR HE~EIN.
0' A
'"'"''',.,~
Cf' c::::>\ ~
<--/~~
-213~20- -OOl-ll-Ol-JZ-Ol
ovisions applicable to this credit _ ~'
is credit is SUbject to the Uniform Customs and Practice for Documentary Credits (1974 Revision). International Chamber of Commerce Publication No. 290