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2003-10-14 LOC Amended 16-01 . . ~ .. lVortheast 'ill Bank . Your Independent Community Bank 77 Broadway N.E. Minneapolis.. MN 55413 612-379-8811 FAX 612-362-3252 October 14, 2003 Member F.D.i.C. IRREVOCABLE LETTER OF CREDIT NO. 16-01 City of Albertville Attn: Linda Goeb PO Box 9 Albertville, MN 55301 RE: CEDAR CREEK SOUTH 7th ADDITION Irrevocable Letter of Credit No. 16-01 is hereby amended to extend the maturity date to August 15, 2004. A draft drawn under this Letter of Credit must bear on its face the words: "Drawn under Northeast Bank Letter of Credit No. 16-01, dated November 15,2001." All other terms and conditions of this Irrevocable Letter of Credit No. 16-01 shall remain unchanged. If you have any questions please feel free to contact Larry Crane at 763-792-3216 regarding this matter. 7.~L~ Gai . Mikolich Executive Vice President and Chief Operating Officer