HomeMy WebLinkAboutConfirmation of Citibank, N.A. regarding the Letter of Credit
Citibank, N.A. Date: April 7,2006 Beneficiary: U.S. Bank National Association, as Fiscal Agent Corporate Trust Services 633 West Fifth Street, 24th Floor LM-CA-T247 Los Angeles, CA 90071
Ref: Irrevocable Standby Letter of Credit No. CA 2006-012 issued by Ohio Sayings Bank (the "Letter of Credit"); our reference number 09652213 (our "Confirmation'') We are instructed
by Ohio Savings Bank to advise you that they have issued the Letter of Credit in your favor. Citibank, N A, New York hereby confirms the Letter of Credit, original of which is attached
hereto, and undertakes to honor drawing document(s) if presented in accordance with the terms and conditions of the Letter of Credit and this Confirmation at the office of our Servicer,
Citicorp North America, Inc., 3800 Citibank Center, Building B, 3rd Flopr, Tampa, FL 33610. If we receive any of your drafts and certificates at such office, all in strict conformity
with the terms and conditions of the Letter of Credit, not later than 9:00 a.m. (New York, New York York time) on a banking day prior to the termination of the Letter of Credit, we will
honor the same on the next succeeding banking day in accordance with your payrnentinstructipns. All ; payments hereunder shall be made from our own funds and not from the funds of the
Account Party. If we receive any of your drafts and certificates at such office, ail in strict conformity with the terms and conditions of the Letter of Credit, after 9;00 a.m. (New
York, New York time) on a banking day prior to the termination of the Letter of Credit, we will honor the same on the second banking day thereafter in accordance with your payment :
instructions. The phrase "banking day" shall mean any day other than a Saturday, Sunday or a day which shall be in the State of New York a legal holiday or a day on which banks are authorized
or obligated by law or executive order to close.; : • : In the event that the Letter of Credit is transferred in its entirety, but not in part, pursuant to the terms and conditions of
the Letter of Credit, then this Confirmation shall aisp transfer in iis entirety, but not in part, to such successor Fiscal Agent, as Beneficiary. . Our Confirmation is subject to the
Uniform Customs and Practice for Documentary Credits, Revision 1993, International Chamber of Commerce, Publication No. 500, and as to matters not governed by the UCP, shall be governed
by and construed in accordance with the laws of the State of New York and applicable U.S. Federal Law. •;
Citibank NA Citibank, N.A. Authorized Signature