HomeMy WebLinkAbout2001-05-16 Letter of Credit #582 COPY
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OFFICES:
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W11=11 Premier B 2866 WHITE BEAR AVENUE
MAPLEWOOD. MN 55109
151 THIRD STREET • 551 -425 -7800 651- 777.7700
WHITE BEAR LAKE, MINNESOTA 55110 MEMBER FDIC
301 CENTRAL AVENUE
OSSEO, MN 55369
7+63 - 493 -34561
May 16, 2001 1875 W. HIGHWAY 36
ROSEVILLE, MN 55113
651 -633 -8880
Letter of Credit #582
Issued in Favor of: City of Oak Park Heights, A Minnesota municipal corporation
Dear Sirs:
Premier Bank hereby establishes its irrevocable letter of credit in your favor for DDD,
LLC. to an aggregate amount of Sixty Seven thousand two hundred dollars ($67,200.00)
available by your drafts shown at sight on Premier Bank.
This letter of credit covers improvements; boulevard, swale sod, trees, grading, erosion
control, pond protection., and restoration, utility protection, and repair, street protection,
and repair.
Premier Bank hereby agrees with bonaftde holders that all drafts drawn under and in
compliance with the terns of this credit shall be duly honored on presentation and
delivery of documents as specified to the drawee if drawn and negotiated on or before
May 16, 2002. The aggregate amount drawn on this credit shall not exceed $+67,200.
This credit becomes void if not used on or before May 16, 2002.
Your negotiations of any draft or drafts. Linder this letter of credit shall be considered a
guaranty to Premier Bank that the terms and conditions expressed therein have been.
fulfilled.
Unless otherwise expressly stated, this letter of credit is subject to the Uniform Customs
6
and Practice for Documentary Credits, I.I. Publication No. 290 (1974 Revision).
Very Truly Y u,rs,
r
Michael R. Rueth ''
President
MRRIes