2006-07-24 LOC ReductionJuly 24, 2006
Laity R. Kruse
City of Albertville
5975 Main Avenue N.E.
Albertville, MN 55301
RE: Hunter's Pass Estates Letter of Credit Reduction
Albertville, Minnesota
Dear Mr. Kruse,
Please accept this letter as an official request to reduce the irrevocable Letter of Credit
No. 8815-0805 DI from $427,320 to the lowest amount possible. We have completely
approximately 93% of the I't addition. We look forward to working with the city on this
request. Thank you for your attention to this matter.
Sincerely,
HUNTER'S DEVELOPMENT, LLC
MINNESOTA DEVELOPMENT AGENCY, LLC
Dwight R. Gunnarson, P.E.
Vice President of Operations
Cc: Adam Nafstad - Bolton & Menk, Inc.
9766 Fallon Avenue, Suite 201 9 Montleello,. INN 55362 Phone: 763-295-LAND 9 Pam: 763 2954,6WG • �aom