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2005-01-25 LOC Extend January 25,2005 Alliance Bank 120 Town Square 444 Cedar Street St. Paul, Minnesota 55101 RE: Release of Letter of Credit No. 6512-96 Contractor Property Developers Company Shoppes of Towne Lakes One Dear Ms. Karas: Please accept this as an official notification that the City of Albertville is giving notice to extend the Letter of Credit No. 6512-96 for one (1) year in the amount of Eighty-Eight Thousand Three Hundred Fifty Dollars ($88,350). Should you have any questions, please contact me at (763) 497-3384. Sincerely, Larry R. Kruse City Administrator Cc: Mike Couri, City Attorney Dave Hempel 3030 Centre Pointe Drive Suite 800 Roseville, Minnesota 55113