2006-10-31 LOC ReductionMinnesota Development
Agency, LLc
October 31, 2006
Larry 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. 8815-0806 DI from $223,788 to $204,120, or the minimum as allowed per the
developer's agreement. Thank you for your attention to this matter.
Sincerely,
HUNTER'S DEVELOPMENT, LLC
INNESOTA DEVELOPMENT AGENCY, LLC
Dwight R. Gunnarson P.E.
g ,
Vice President of Operations
Cc: Adam Nafstad - Bolton & Menk, Inc.
9766 Fallon Avenue, Suite 201 9 Monticello, MN 55362 Phone: 763-295-LAND 9 Fax: 763-295-4696 • wwwmndevelopmentagencycom