2010-05-19 LOC Draw on 6512-117A
ALLIANCE BANK
May 19, 2010
City of Albertville
Attn: Tina Lannes
5959 Main Ave NE
PO Box 9
Albertville, MN 55301
RE: Irrevocable Letter of Credit 6512-117 for Contractor Property Developers Company
Dear Tina:
This letter is to confirm that the City of Albertville has made a draw on the above
mentioned letter of credit in the amount of $74,103.48. The funds were sent to the City
of Albertville on May 17, 2010 in a cashier check #4218538639. The remaining balance
of this letter of credit is $194,534.50.
The terms of the original irrevocable letter of credit dated December 20, 2005 remain the
same, the irrevocable letter of credit shall be automatically extended for periods of at
least one (1) year from the present expiration date unless at least sixty (60) days prior to
the relevant expiration date, we notify you, by certified mail at the above address that we
elect not to extend this irrevocable letter of credit for any additional period.
Enclosed is the original letter of credit for your records.
If you should have any questions, please contact me at 651-229-2860.
Thank you.
Sine ly,
pl":r
J on R Pass
Vice President
Alliance Bank
55 East Fifth St, Suite 115
St. Paul, MN 55101
651-229-2860
651-228-2381 fax
55 EAST FIFTH STREET A SUITE 115 A ST. PAUL, MN 55101 A (651) 229-0070 L FAX (651) 229-0966
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