1993-06-30 LOCdop
BANG
1((i pP0 NORTHWEST
June 30, 1993
AMOUNT: U.S. $19,933.00
City of Albertville
5964 Main Avenue
Albertville, MN 55301
701 Central Avenue E.
St. Michael, Minnesota 55376
(612) 497-2131
FAX (612) 497-4353
RE: Extension of Letter of Credit #243758 dated 8/21/92 in favor of:
Donald G. & Betty L. Barthel, in connection with the Devloper's
Agreement of August 21, 1992 in reference to Barthel Commercial
Park located on 60th Street, City of Albertville
We hereby establish our Irrevocable Letter of Credit #243758 in your
favor for the account of Donald G. & Betty L. Barthel up to an
aggregate amount of Nineteen Thousand, Nine Hundred Thirty -Three and
No/100 ($19,933.00) Dollars.
We authorize you, and any collecting bank acting in your behalf, to
draw your drafts at site at Security Bank Northwest, 701 Central
Avenue East, St. Michael, MN 55376.
Drafts are to be accompanied by this Letter of Credit and Certified
Statement signed by the drawer of the draft stating that Donald G.
and Betty L. Barthel have not complied with, as required, the terms
of the Developer's Agreement with the City of Albertville dated
August 21, 1992. Funds will then be drawn upon this Letter of
Credit #243758, originally dated August 21, 1992 at Security Bank
Northwest.
We hereby agree to notify the City of Albertville 60 days prior to
the maturity of this Letter indicating the upcoming expiration date.
The draft must be presented to Security Bank Northwest at 701
Central Avenue East, St. Michael, MN 55376 no later than June 30,
1994, after which time this Letter of Credit will be null and void.
This credit is subject to the International Chamber of Commerce
Publication No. 400.
We hereby agree with the drawers that drafts under and in compliance
with the terms of this credit will be duly honored on presentation
to us if presented at this office together with this Letter of
Credit on or before the above referenced expiration date.
incerely,
.�
Douglas Bleess
Vice President
OFFICES:
Albertville: 5882 Main Street Northeast, Albertville, Minnesota 55301, (612) 497-3525• Maple Grove: 13370 Grove Drive, Maple Grove, Minnesota 55369, (612) 420-3039
BAN<
c��i>> N( p) NORTHWEST 701 Central Avenue E
St M hael Minnesot 55376
August 21, 1992
AMOUNT: U.S. $19,933
City of Albertville
5964 Main Avenue
Albertville, MN 55301
Re: Letter of Credit in
Donald G. & Betty L.
Agreement of August
Park located on 60t
h
favor of:
Barthel, In connection of the
21, 1992 in reference to Barthel
Street, City of Albertville
(612) 497-2131
RX (612) 497-4353
Developer's
Commercial
We hereby establish our Irrevocable Letter of Credit in your favor
for the account of Donald G. and Betty L. Barthel up to an aggregate
amount of Nineteen Thousand Nine Hundred Thirty Three and No/100
($19,933).
We authorize you, and any collecting bank acting in your behalf, to
draw your drafts at site at Security Bank Northwest, 701 Central
Avenue East, St. Michael, MN 55376.
Drafts are to be accompanied by this Letter of Credit and Certified
Statement signed by the drawer of the draft stating that Donald G.
and Betty L. Barthel have not completed as required, terms of the
Developer's Agreement with the City of Albertville dated August 21,
1992. Funds will then be drawn upon this Letter of Credit No. 243758
dated August 21, 1992 at Security Bank Northwest.
We hereby agree to notify the City of Albertville 60 days prior to
the maturity of this Letter indicating the upcoming expiration date.
The draft must be presented to Security Bank Northwest at 701 Central
Avenue East, St. Michael, MN 55376 no later than August 21, 1993,
after which time this Letter of Credit will be null and void.
This credit is subject to the International Chamber of Commerce
Publication No. 400.
We hereby agree with the drawers that drafts under and in compliance
with the terms of this credit will be duly honored on presentation to
us if presented at this office together with this Letter of Credit on
or before the above referenced expiration date.
Sincerely,
Douglas E t Bleess
vice President
OFFICES:
Albertville: 5882 Main Street Northeast, Albertville, Minnesota 55301, (612) 497-3525 • Maple Grove: 13370 Grove Drive, Maple Grove, Minnesota 55369, (612) 420-3039