1998-08-07 LOC Reduction
e e
PILOT
LAND DEVELOPMENT COMPANY
August 7, 1998
Mr. Pete Carlson - SEH
City Engineer
113 South Fi fth Avenue
St. Cloud, MN 56302-1717
RE: Letter of Credit Reduction and Bond Release for Parkside 3rd Addition Infrastructure; Gradinf(
letter of credit release or satisfaction. Satisfaction of Develovment A1!reement. full accevtance of
roads. utilities and ri1!ht ofwav.
Dear Mr. Carlson:
As of August I. our subcontractors Brown & Cris completed the City punch list regarding streets and
completed tinal wear paving of the above project. We hereby request the above actions take place,
Release of the $25,000 bond covering landscaping from Sheer's Inc. (#95176) to us immediately as it
renews in August. The bonding company needs the original notarized bond back to close out the account
ti'om Albertville along with a copy in draft form only of the approved Council action at a later date.
Reduce ffie-required NoftheaSf State-Banl( Lener 6fCfedit '# 25-96 airi6unt for the proiectTrom-$}9,OOOT6--
the minimum required for warranty purposes and release any reference to obligations for grading,
drainage and erosion control. All utilities were completed in the fall of 1997 and have been through their
<me-year warranty period. All lots remain protected from erosion, are sold to end buyers and will
complete landscaping and sod during the 1998 growing season.
Request the City Attorney to prepare a satisfaction of development agreement obligations for the above
development in a one page format which can be recorded at the County to eliminate the development
agreement from title searches as an outstanding obligation to Kenco.
Please notify our bank upon your concurrence with my math and request above. If you have any
questions, please contact me as soon as possible.
Sincerely,
/4rt~t~ ~~~
Donald Jense~
Land Development Director
Attachment:
lien waivers in mail
l ,:~-: ~';-. ~~ ,!~kdIP
fr!!l~ cat't-1 .. C ~ I!-
1 \\ServerO l\don\LANDD EV\I~ETTERS\PRO.JECTS\ALBRTVI~E\PSIDSR TY .DOC
13736 Johnson Street NE . Ham Lake, MN 55304 . 757-9816 . Fax: 757-4094