HomeMy WebLinkAbout2001-10-04 Letter of Credit #599 OFFICES:
Pre Bank
2866 WHITE BEAR AVENUE
MAPLEWOOD MN 55109
V '.•,, 2151 THIRD STREET o 651 - 426 -7800 651 -7 77-7700
WHITE BEAR LAKE, MINNESOTA 55110 MEMBER FDIC 301 CENTRAL AVENUE
OSSEO, MN 55369
763 - 493 -3456
1875 W. HIGHWAY 36
ROSEVILLE, MN 55113
651 - 633 -8880
October 4, 2001
Letter of Credit #599
Issued in Favor 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 Sateen thousand two hundred dollars ($1 6,200.00) available
by your drafts shown at sight on Prernier 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 bonafide holders that all drafts drawn Linder and in
compliance with the terms 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 September
19 2002. The aggregate amount drawn on this credit shall not exceed $16, 200. This
credit becomes void, if not used on or before September 19, 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
and Practice for Documentary Credits, I.D. Publication No. 290 ( 1974 Revision).
Very Truly Yours"
Micha . Ruether
President, 'white Bear Lake
MRRIjw
OCT 2001 �