2002-05-02 LOC RequestJMJ Pro erties, Inc. ORIGINAL
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Real Estate Development ®Management ~ Consulting COpY sent via fax
May 2, 2002 VIA FACSIMILE/MAIL
Ms. Linda Goeb
City Administrator
City of Albertville
5975 Main Avenue, NE
Albertville, MN 55301
RE: Outlets at Albertville
Albertville, Minnesota
Dear Linda:
I am requesting that on May 6, 2002 the Albertville City Council move to
approve the termination of the outstanding Letter of Credit the City holds
on behalf of Albertville Factory Outlets, L.L.C.
According to the Development Agreement, I believe all obligations have
been met with respect to the Letter of Credit and therefore can be
terminated. The Letter of Credit is currently in the amount of $118,957.00.
Sincerely,
J. Morse
f
107 Sinclair Drive ~ Mus
Michigan 49441 •