2009-11-09 LOC CPDC 6512-117 Water Line InstallationALLIANCE BANK
November 9, 2009
City of Albertville
5976 Main Avenue NE
Albertville, MN 55301
RE: Letter of Credit 6512-117
Contractor Property Developers Co
Towne Lakes 6th Addition
Dear Council Members:
In accordance with the Agreement Relating to Cost of Utility Installation dated October 14,
2009, by and between M&I Marshall & Ilsley ("M&I") and the City of Albertville ("City") and
the Petition To Complete Water Line Installation dated November 9, 2009 by and between M&I
and the City (collectively, "Agreement") regarding the completion of municipal water main work
by the City on behalf of M&I through that real property commonly known as Towne Lakes Sixth
Addition. This letter is to confirm the City may draw upon Letter of Credit 6512-117 to
reimburse City for the cost of the Work (as defined in the Agreement) to the extent M&I does
not pay for such costs within thirty (30) days of receipt of City's invoice along with lien waivers
consistent with the requirements of paragraph 4 of the Addendum To Standard General
Conditions of the proposed contract between Northdale Construction Company and the City.
If you have any questions, please contact me at 651-229-2860.
Sincerely,
ALLIANC AN
By:
Name: ason R. Pass
Title: Vice President
cc: Michael Couri
4312373_3
55 EAST FIFTH STREET A SUITE 115 A ST. PAUL, MN 55101 A (651) 229-0070 A FAX (651) 229-0966