1992-06-01 LOC 23341
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701 CentICl Avenue E.
St. Michael. Minnesota 55376
(612) 497-2131
FAX (612) 497-4353
June 1, 1992
City of Albertville
Attn: Linda Houghton, City Clerk
P. O. Box 131
Albertville, MN 55301
Dear Ms. Houghton:
Attached please find an original revision of our Letter of
Credit #23341. This revision is dated June 1, 1992 and is
meant to replace Letter of Credit #23341. We have
identified this revision as Letter of Credit #23341 (C). The
only change between the original Letter of Credit and the
attached revision is the reduction in the amount of $28,600
to $8,100. You will recall that the original Letter of
Credit was reduced from $28,600 to $20,000 by revision
#23341(B) dated October 21, 1991.
As I understand it, the original Letter of Credit #23341
issued April 20, 1988 has been destroyed, lost, or
misplaced. By signing below you are acknowledging in your
capacity as City Clerk that the revised Letter of Credit
#23341(C) is being issued and accepted in full replacement
and substitution for the original Letter of Credit #23341 as
well as the revised Letter of Credit #23341 (B) , (the original
of which you agree to return to us). You further
acknowledge that if the original Letter of Credit #23341 is
found it will be surrendered to Security Bank Northwest in
consideration for the issuance of this replacement Letter.
Finally, you acknowledge that the bank's total contingent
liability to the City of Albertville will not exceed an
aggregate amount of $8,100 at the present time. If this is
agreeable please sign below and I will execute letter
23341(C) and we will exchange originals.
1n a Houghton, C1t
of Albertvill
Date q / ('/ ~A.-
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ttrnJ
Clerk
OFFICES:
Albertville: 5882 Main Street Northeast. Albertville. Minnesota 55301. (612) 497-3525. Maple Grove: 13370 Grove Drive. Maple Grove. Minnesota 55369. (612) 420-3039