2000-05-16 LOC Issued
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Northern
Bank
Letter of Credit Number: 0107000849
Date: 05/1612000
Beneficiary: City of Albertville
Attn. Linda Goeb
P.O. Box 131
St. Michael, MN 55301
We hereby issue our irrevocable standby Letter of Credit No. 0107000849, in your favor
for the account of Leuer-Munsterteiger Properties, Inc. , for up to the aggregate amount of
Thirty Thousand Dollars ( 30,000.00 ). This amount is available upon presentation of your
sight draft or drafts drawn upon us and accompanied by a statement signed on your behalf and
stating:
RE: SUBDIVISION IMPROVEMENTS IN PHASE 1 OF KOLL VILEE ESTATES,
CITY OF ALBERTVILLE AS REGULATED BY THE DEVELOPERS AGREEMENT,
AND YARD TREE, DRVIEW A Y AND SOD GUARANTEES
Drafts must be presented at our office at 106 Central Ave E St. Michael, Minnesota.
All drafts drawn under this Letter of Credit must contain the following statement:
"Drawn under Great Northern Bank Irrevocable Standby Letter of Credit
No. 0107000849, dated May 16, 2000."
This Letter of Credit expires on May 15, 2001.
This Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits
(1993 Revision) ofthe International Chamber of Commerce Publication No. 500, which is
incorporated into the text of this letter of credit.
Great Northern Bank
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By Chad Vit urn
Its Vice President
106 Central Avenue East
St. Michael, Minnesota 55376
612.497.7777
Fax: 612.497.8007
www.GreatNorthernBank.com
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e
lireat
Northern
Bank
Letter of Credit Number: 0 I 07000849
Date: 05/1612000
Beneficiary: City of Albertville
Attn. Linda Goeb
P.O. Box 131
St. Michael, MN 55301
We hereby issue our irrevocable standby Letter of Credit No. 0107000849, in your favor
for the account of Leuer-Munsterteiger Properties, Inc. , for up to the aggregate amount of
Thirty Thousand Dollars ( 30,000.00 ). This amount is available upon presentation of your
sight draft or drafts drawn upon us and accompanied by a statement signed on your behalf and
stating:
RE: SUBDIVISION IMPROVEMENTS IN PHASE I OF KOLL VILEE ESTATES,
CITY OF ALBERTVILLE AS REGULATED BY THE DEVELOPERS AGREEMENT,
AND YARD TREE, DRVIEW A Y AND SOD GUARANTEES
Drafts must be presented at our office at 106 Central Ave ESt. Michael, Minnesota.
All drafts drawn under this Letter of Credit must contain the following statement:
"Drawn under Great Northern Bank Irrevocable Standby Letter of Credit
No. 0107000849, dated May 16, 2000."
This Letter of Credit expires on May 15, 2001.
This Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits
(1993 Revision) of the International Chamber of Commerce Publication No. 500, which is
incorporated into the text of this letter of credit.
Great Northern Bank
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By Chad Vit um
Its Vice President
106 Central Avenue East
St. Michael, Minnesota 55376
612.497.7777
Fax: 612.497.8007
www.GreatNorthernBank.com