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KEYBANK NATIONAL ASSOCIATION STANDBY LETTER OF CREDIT SERVICES

Letter of Credit

KEYBANK NATIONAL ASSOCIATION
STANDBY LETTER OF CREDIT SERVICES | Document Parties: Biltmore Bank of Arizona | KeyBank National Association | Xedar Corporation You are currently viewing:
This Letter of Credit involves

Biltmore Bank of Arizona | KeyBank National Association | Xedar Corporation

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Title: KEYBANK NATIONAL ASSOCIATION STANDBY LETTER OF CREDIT SERVICES
Date: 10/3/2007

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Exhibit 10.1

 
A KeyCorp Bank


KEYBANK NATIONAL ASSOCIATION
STANDBY LETTER OF CREDIT SERVICES
MAIL CODE: OH-01-51-0435
4910 TIEDEMAN ROAD
CLEVELAND, OHIO 44144-2338
TEL NO: 216-813-3698, -3701, -3703
FAX NO: 216-813-3719

 
           Irrevocable Standby Letter of Credit No. S312906
 
Date: September 27, 2007
     
           Beneficiary:
 
Applicant:
           The Biltmore Bank of Arizona
 
 Xedar Corporation
           5055 N. 32'* Street
 
8310 S. Valley Highway, Ste. 220
           Phoenix, AZ 85018
 
 Englewood, CO 801 12
     
   
Amount: USD 157,000.00
     
   
Expiry: September 28, 2008

We hereby establish our lrrevocable Standby Letter of Credit No. S312906 in your favor for account of Xedar Corporation for a sum or sums not exceeding a total of One Hundred Fifty Seven Thousand and 001100 United States Dollars ($157,000.00) available by your draft($) at sight drawn on KeyBank National Association, Cleveland, Ohio accompanied by the following document(s):

 
1.
Beneficiary's statement signed by an authorized individual certifying that Landiscor, Inc., Pixxures, Inc. and LandPixx, LLC is in default of their obligations to beneficiary under the terms of Loan #4240002.

 
2.
This original letter of credit and all amendments, if any.

All drafts

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