2003-05-21 LOCAssociated Bank
COMMERCIAL REAL ESTATE DIVISION
May 21, 2003
Linda Goeb
City Administrator
City of Albertville
5975 Main Avenue N.E.
Post Office Box 9
Albertville, MN 55301
Re: Account #8614946-9001
Outlets of Albertville, Phase II
Albertville Factory Outlets, LLP
Dear Ms. Goeb:
Thank you for your letter dated May 16, 2003 regarding the city's release of the above captioned
letter of credit.
Associated Bank's internal policy regarding cancellation of outstanding letter's of credit require
one of the following to occur: (1) the original letter of credit is returned to the bank; or (2) the
letter of credit beneficiary states in writing they cannot locate the letter of credit and request we
accept a written letter in lieu of the original document.
In light of this policy, I am asking you either send to my attention the original letter of credit or, if
unavailable, you add a paragraph to your May 16 letter stating the original letter of credit cannot
be located and request the Bank to accept your letter in lieu of returning the original letter of
credit.
I am sorry for this inconvenience but would appreciate your earliest attention to this matter so we
may close the file on this transaction.
If you have any questions, please contact me at 612-359-4429.
Sincerely,
ASSOCIATED BANK, N.A.
A. W. (Bill) Davis, Jr.
Vice President
Bette Avenue • Minneapolis, MN 55402-2303 • 612-359-4461 • Fax 612-359-4426