Letter of Credit RELEASED L Lake Place - Lakes at Chanhassen LLC001CITY OT CHANIIASSX N
A Community for Life
September 18,2024
Bridgewater Bank
Mr. Tyler Manning
370 Wabasha Street North
Suite 1500
St. Paul, MN 55102
Re: Release of Letter of Credit No. 643
Planning Case No. 2021-04 Lake Place
Dear Mr. Manning,
The City of Chanhassen has a letter of credit (No. 643) for planning case number 202i-04 Lake
Place in the amount of $ I 0,700.00.
We are releasing this letter of credit with the condition listed below:
o The two dead oak trees will be replaced in fall2024.
Thank you,
Sincerely,
(l' l
Amy 'vl/ei
4r/^1""
dman
Sr. Administrative Support Specialist
Enclosure: Letter of Credit 643
PH 952.227.1100. www.chanhassenmn.gov. FX 952.227.1110
77OO I'4ARKET BOUTEVARD .PO BOX I4T.CHANHASSEN .MINNESOTA. 553]7
BRIDGEWATER BANK
No. 643
Date: May 20,2021
TO City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, Minnesota 553 1 7
Dear Sir or Madam:
we hereby issue, for the account of Lakes at chanhassen LLC-and in your favor, our
Irrevocable Lettei of Credit in the amount of$106,986.50, available to you by your draft drawn
on sight on the undersigned bank.
The draft must:
a) Bear the clause, "Drawn under Letter of Credit No' 643, dated May 20' 2o21' of
Bridgewater Bank;
b) Be signed by the Mayor or City Manager of the City of Chanhassen'
c)Bepresentedforpaymentat4450ExcelsiorBoulevard,suitel00'St'LouisPark'MN
55416, on or before 4:00 p'm. on November 30, 2022'
This Letter of credit shall automatically renew for successive one-year terms unless, at
least forty-five (45) days prior to the next annual renewal date (which shall be Novembe-r 30 of
"".1, t;; ueginnin! ii zozz1, the Bank delivers written notice to the Chanhassen City Manager
that it intendito.oditr,, th" t"..s of, or cancel, this Letter of Credit' Written notice is effective if
sent by certified mait, postage prepaid, and deposited in the U.S. Mail, at least forty-five (45) days
prio, to the ne*t anorai ."n"*ui dut" addressed as follows: Chanhassen City Manager, Chanhassen
'City u.tt, zzoo Uarket Boulevard, P.o. Box 147, Chanhassen, MN 55317, and is actually received
Uy itre City Manager at least thirty (30) days prior to the renewal date'
This Letter of Credit sets forth in full our understanding which shall not in any way be
modified, amended, amplified, or limited by reference to any document, instrument, or agreement,
whether or not referred to herein.
ltBRtS$'tAltR Eltil( {li
952 m3 6868 . B9l8l4l L
IRRF'-VC)CABI,E LETTER OF CREDIT
This Letter of Credit is not assignable. This is not a Notation Letter of Credit. More than
one draw may be made under this Letter of Credit.
This Letter of Credit shall be govemed by the most recent revision of the Uniform Customs
and Practice for Documentary Credits, Intemational Chamber of Commerce Publication No. 600.
We hereby agree that a draft
be duly honored upon presentation.
drawn under and in com
BY:
Its: Vice
IS f Credit shall
ERtoGtirATtR 8Ail(.1150 trottsl0R 0LV0 $JlTt 100 sl t0ilsPARI( Mll55.116
:52 8S3 6868.8W8m C0l,l
BRIDCEWATER BANK
Jawary 13,2023
City of Chanhassen
7700 Market Blvd, Box 147
Chanhassen, MN 553 17
Re: Letter ofCredit # 643
To Whom It May Concem:
Per your request Letter of Credit # (649) issued to you in your favor for the account of Lakes at
Chanhassen LLC, a Minnesota Limited Liability Company, has been reduced to $92,087.00. All
other terms and conditions listed in the original Letter ofCredit remain unchanged.
Sincerely,
Tyler
Seni lce President Commercia[ Lending
BRIDGEWATTR BANK .4450 EXCELSIOR BLVD,, SUIIE IOO .SI LOUIS PARK. MN 55416
952.833.6868. BW8MN.C0t/
r r0:0 Dndq?rd BDr ar tuo6Rffirr
Potter, Jenny
Status:
Percent Complete:
Total Work:
Actual Work:
Owner:
Requested By:
Lake Place (Lakes at Chanhassen LLC)
Friday, May 21,2021
Monday, June 3, 2024
ln Progress
0o/o
0 hours
0 hours
Potter, Jenny
Steckling, Jean
Letter of Credit No. 643
Lake Place (Lakes at Chanhassen LLC) - Planning Case No. 2021-04
Bridgewater Bank
4450 Excelsior Boulevard, Suite 100
St. Louis Park, MN 55416
S106,986.50 - See updated address below
ll/30/22 - Bob, Status? -jp
t2/7122 - Bob, any update? Jp
t/77/n -fodd Simning asked to reduce Escrow - Bob replied. See file for info. Jp
7172/23 - Per Erik Henricksen, we can reduce Escrow to 592,087.00 JP
Ll30l23 - Received LOC #643 for Lakes at Chanhassen.
8122/23 - Bob, status?
8123/23 - Per Bob We can reduce the LC to 10% for landscaping. Check again June L,2024
We can reduce the LC to 10% for landscaping. Check again June 1, 2024
- Sent letter to Bridgewater Bank to reduce Letter of Credit Number 643 by $81,387 to leave a remaining
balance of $ 10,700
1214123 - Renewed LOC came - but not a reduced amount. Will follow up. JP
12/4123 - resent letter from E.Maass to updated address: Tyler Manning
Senior Vice President Bridgewater Bank
1
Subject:
Start Date:
Due Date:
Notify Bob Generous for updates
370 Wabasha Street North
Suite 1500
St. Paul, MN 55102
2
Potter, Jenny
Subject:
Start Date:
Due Date:
Status:
Percent Complete:
Total Work:
Actual Work:
Owner:
Requested By:
Lake Place (Lakes at Chanhassen LLC)
Friday, May 21 , 2021
Monday, June 3, 2024
ln Progress
0%
0 hours
0 hours
Potter, Jenny
Steckling, Jean
Letter of credit No. 643
Lake Place (Lakes at Chanhassen LLC) - Planning Case No. 2021-04
Bridgewater Bank
4450 Excelsior Boulevard, Suite 100
St. Louis Park, MN 55416
s106,e86.s0
Notify Bob Generous for uPdates
7t/ 30 I 22 - Bob,Status? -jp
L2l7l22-Bob, any update? JP
l/L!/23 -Todd Simning asked to reduce Escrow - Bob replied' see file for info' Jp
l/L2/23 - ?er Erik Henricksen, we can reduce Escrow to 592,087'00 JP
Ll3O/23 - Received LOC #643 for Lakes at Chanhassen'
8/22123 - Bob, Status?
g/23/23 - per Bob we can reduce the LC to 10% for landscaping. check again June !,2024
We can reduce the LC to 10% for landscaping. Check again June 1, 2024
- sent letter to Bridgewater Bank to reduce Letter of credit Number 643 by $ 10,700 to leave a remaining
balance of $81,3 87
1
Steckling, Jean
Subject:
Start Date:
Due Date:
Status:
Percent Complete:
Total work:
Actual Work:
Lake Place (Lakes at Chanhassen LLC)
Ftiday, May 21, 2021
Wednesday, November 30, 2022
ln Progress
iYo
0 hours
0 hours
Owner:Steckling, Jean
Letter of Credit No. 643
Lake Place (Lakes at Chanhassen LLC) - Planning Case No. 2021-04
Bridgewater Bank
4450 Excelsior Boulevard, Suite 100
St. Louis Park, MN 55416
s106,986.50
Notify Bob Generous for uPdates
1
BRIDGEWATER BANK
January 13,2023
City of Chanhassen
7700 Market Blvd, Box 147
Chanhassen, MN 55317
Re: Letter of Credit # aqz
To Whom It May Concern:
Per your request Letter ofCredit # (643) issued to you in your favor for the account ofLakes at
Chanhassen LLC, a Minnesota Limited Liability Company, has been reduced to $92,087.00. All
other terms and conditions listed in the original Letter of Credit remain unchanged.
Sincerely
Tyler
President Commercial Lending
BRIDGEWATER BANK.4450 EXCELSIOR BLVD , SUITE IOO . ST. LOUIS PARK, MN 55416
952 893.6868.BWBMN COM
9 20:0 Bridle$ater Baol. All Righrs R*n.d
BRIDCEWATER BANK
IRREVOCABLE LETTER OF CREDIT
No.643
Date: May 20,2021
TO City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, Minnesota 55317
Dear Sir or Madam:
We hereby issue, for the account of Lakes at Chanhassen LLC-and in your favor' our
Irrevocable Letter of Credit in the amount of $106,986.50, available to you by your draft drawn
on sight on the undersigned bank.
The draft must:
a) Bear the clause, "Drawn under Letter of credit No. 643, dated May 20' 2021' of
Bridgewater Bank;
b) Be signed by the Mayor or City Manager of the City of Chanhassen'
c) Be presented for payment at 4450 Excelsior Boulevard, Suite 100, St. Louis Parh MN
55416,on or before 4:00 p.m. onNovember 30,2022'
This Letter of Credit shall automatically renew for successive one-year terms unless, at
least forty-five (a5) days prior to the next annual renewal date (which shall be November 30 of
each year beginningirriiZZl,the Bank delivers written notice to the Chanhassen City Manager
that it intends to modiff the terms ol or r*".1, this Letter of credit. written notice is effective if
sent by certified mail, postage prepaid, anJ depo.ited in the u.s. Mail, at least forty-five (45) days
priortothe nextannuair.rr"ilui date addrest"d* follows: Chanhassen City Manager' Chanhassen
City Hall, 7700 Market Boulevard, P.O. Box 147 , Chafrtrassen, MN 553 17' and is actually received
by ihe City Manager at least thirty (30) days prior to the renewal date.
This Letter of Credit sets forth in full our understanding which shall not in any way be
modified, un,"na"a, u-pfified, o. limited by reference to any document, instrument' or agreement'
whether or not referred to herein.
BRmiwAIIR0Al.ll(.4450tx0itsloRB|.v0SUlItlso.SIt0ulsPARI(}4155418
952393.8868' milBl0{.C01'l
, j{,i*sM $Lil'l.d
?
This Letter of Credit is not assignable. This is not a Notation Letter of Credit. More than
one draw may be made under this Letter of Credit.
This Letter of Credit shall be govemed by the most recent revision of the Uniform Customs
and Practice for Documentary Credits, International Chamber of Commerce Publication No. 600.
We hereby agree that a draft drawn under and in Credit shall
be duly honored upon presentation.
Vice
8fir08ilYAliR BAll( ' 1450 t)(CtL$0R Bwo . sullt 100 ' sI L0uls PARI(. MN 5541$
e523S3 E8$8 . MBI.*{.C0M
.:4;lset* {l,lkr*,}s.t
BY
Its:
BRIDGEWATER BANK
December 6,2022
City of Chanhassen
7700 Market Blvd, Box 147
Chanhassen, MN 55317
Re: Letter of Credit # iqz
To Whom It May Concern:
This letter hereby extends Letter of Credit # (g43) issued to you in your favor for the account of
Lakes at Chanhassen, LLC, a Minnesota Limited Liability Company . The above-mentioned
Letter of Credit has hereby been extended to November 24,2023. All other terms and conditions
listed in the original Letter of Credit remain unchanged'
Sincerely,
Tyler
Senior President
BRIt]GEWATER BANK.445O EXCETSIOR BLVD , SUITE IOO ' ST LOUIS PARK, MN 554I6
s52 893.6868 . BWBMN.C0M
g 20lO Brids$ ar.r Bet. All Righrs Rern.d
Potter,Jenny
From:
Sent:
To:
Cc:
Subject:
Generous, Bob
Wednesday, January 1 1, 2023 1:57 pM
Todd Simning; Aanenson, Kate
Craig Hanson; Jamison Kohout; Tyler Manning; Henricksen, Erik Seidl, Joe
RE: Lake Place Letter of Credit
Todd,
Here's the procedure for releasing escrow:
To Suarantee compliance with the terms of this Agreement, the Developer shall furnish the City with a letter of credit
from a bank, cash escrow, or equivalent ("security") for 5106,986.50 (grading, erosion control, stormwater and
landscaping). The amount was calculated at a rate of 110 % of the actual cost of improvements.
PROCEDURES FOR
TETTER OF CREDIT REDUCTION
b. Partial lien waivers totaling the amount ofthe requested reduction shall accompany each such request.
c. Any reduction shall be subject to City approval.
However, the site has not been restored (so erosion control is being held)or landscaped. These improvements account
for 5L2,444 and 579,643, respectively, of the security amount, which cannot be released until the improvements have
been installed and inspected by the City.
lf you have additional questions or need more information, please contact me.
Bob
Robert Generous, AICP
Senior Planner
CIry OF CHANHASSEN
PH. 952.227.1131
FX. 952.227.1',t10
www.chanhassenmn.govo0
From: Todd simning <todd@ADOR-HOM ES.CoM>
Sent: Tuesday, January 10, 2023 5:56 PM
To: Generous, Bob <bgenerous@chanhassenmn.gov>; Aanenson, Kate <kaanenson@chanhassenmn.Sov>
Cc: Craig Hanson <craig.hanson@silvercreekequity.com>; Jamison Kohout <jamison.kohout@silvercreekeq uity.com>;
Tyler Manning <Tyle r. Ma n n ing@ bwbm n.com >
Subject: Lake Place Letter of Credit
1
a. Requests for reductions of Letters of Credit must be submitted to the City in wrlting by the Developer or
his Engineer.
Bob and Kate - what do we need to do to 8et the s1o5,xxx letter of credit for lake place released or reduced? we have
the temporary certitlcate ot occrip'an.v. w" a" have a roughly 5t9,0oo Loc with the watershed left for stabilization of
the pond but otherwise that one has been released'
tf you can help, we'd appreciate. l've included Tyler our banker on this thread who iswith Bridgewater Bank' Thank
you.
Todd M. Simning
E
ADOR
aa9Po(E HOMts
350 Hwy 7, Suite 218
Excelsior, MN 55331
* Please note that my email has changed to todd ador-ho mes.com
2
Mobile: 612-590-8099
Office: 952-361-0832
Potter, Jenny
From:
Sent:
To:
Cc:
Subject:
Attachments:
Henricksen, Erik
Thursday, )anuary 12,2023 4:10 PM
Tyler Manning; Generous, Bob
Amber Storms; Potter, Jenny; Todd Simning
RE: Lake Place Letter of Credit
LoC.pdf
Tyler,
Please consider this e-mail authorization to reduce LOC f643, attached, to 592,087
Thank You,
Erik Henricksen, PE
Projecl Engineer
CITY OF CHANHASSEN
PH. 952.227 .1165
FX. 952.227.1170
www.ChanhassenMN.oovos
From: Tyler Manning <Tyler.Manning@bwbmn.com>
Sent: Thursday, Ja nuary 72,2023 2:20 PM
To: Generous, Bob <bgenerous@chanhassenmn.gov>
Cc: Amber Storms <Amber.Storms@bwbmn.com>; Henricksen, Erik <ehenricksen@chanhassenmn.gov>; Potter, Jenny
<jpotter@chanhassenmn.gov>
Subject: RE: Lake Place Letter of Credit
That is helpful. Can you please confirm what we can reduce your Letter to?
I want to make sure of their values before recutting these internally'
Tyler
Tyler Manning
Senior Vice President Commercial Lending
AI\.r'
BRIDCTWATER BANK
370 Wabasha Street North
St. Paul. MN 55102
651.605.2639 (Direct)
65'1.308.6152 (Mobile)
651.605.2600 (Office)
BWBMN.com
1
Notice: This email does not constitute an agreement to conduct transactions by electronic means and does not
create any legally binding contract or enforceable obligation in the absence of a fully signed written contract. This
e-mail and any attachments are for the sole use of the intended recipient(s) and may contain confidential and
privileged information. Any unauthorized review, use, disclosure or distribution of any kind is strictly prohibited. lf
you are not the intended recipient, please contact the sender via reply e-mail and destroy all copies ofthe original
message. Thank you.
From: Generous, Bob <beenerous@cha n hassenm n.gov>
Sent: Thursday, Ja nuary 72,2023 2:06 PM
To: Tyler Manning <Tvle r Ma nnin @bwbmn.com>s
Cc: Amber Storms <Amber.Storms@bwbmn.com>; Henricksen, Erik <ehen ricksen@chanhassenmn.gov>; potter, Jenny
< ioo tte r@ cha nhassen mn.gov>
Subject: [Externall RE: Lake Place Letter of Credit
Tyler,
I do not have a letter of credit for 5477,347
be reduced.
Our LOC, #643, is for 5106,986.50. l'll verify with Engineering if the LOC can
Bob
From: Tyler Manning <Tvler.Mannins @bwbmn.com>
Sent: Thursday, la nuary 72,2023 1:48 pM
To: Generous,Bob <bgenero us(o chanhassenm n.gov>
Cc: Amber Storms <Am ber.storms@ bwbm n.com>
Subiect: RE: Lake Place Letter of Credit
Bob - to be clear - your letter of credit (no 644) can be reduced frcm $477,347 to S92,Og7?
Tyler Manning
Senior Vice President Commercial Lending
370 Wabasha Street North
St. Paul. MN 55102
651.605.2639 (Direct)
651.308.6152 (Mobile)
651 .605.2600 (Ofiice)
BWBMN.com
Notice: This email does not constitute an agreement to conduct transactions by electronic means and does notcreate any legally binding contract or enforceable obligation in the absence of; furry signeo written ;ntiict. ihise-mail and any attachments are forthe sole use ofth;intended ,ecip,entlg ana may c6ntatn connojntiiiana -
privileged information- Any unauthorized revrew, use, disclosure or. iistrioriion ot
"ny
rina ,s sirt"tii pror,io,teo. rryou are not the jntended recipient, please conlact the sender via reply e-mail and destroy all copiei i.rt tt
"
oiigin"rmessage. Thank you.
2
From: Generous,Bob <bsenerous @cha nhassenmn.gov>
Sent: Wednesday, January L!, 2023 Li57 pM
To: Todd Simning <todd @ADOR-HOM ES.COM>; Aanenson, Kate <kaanenson@chanhass enm n.gov>
I Hanson <cra ig. hanson@silvercreekequitv.com>; Jamison Kohout <iamison.kohout@silvercreekeq uitv.com>;
anning <Tvler.Ma nning@bwbm n.com>; Henricksen, Erik <ehenricksen(achanhassenmn.gov>; seidl, Joe
Cc: Crai
Tyler M
<iseidl@chanh assenmn.gov>
Subiect: [External] RE: Lake Place Letter of Credit
Todd,
Here's the procedure for releasing escrow:
To guarantee compliance with the terms of this Agreement, the Developer shall furnish the City with a letter of credit
from a bank, cash escrow, or equivalent ("security") for $105,986.50 (grading, erosion control, stormwater and
landscaping). The amount was ca lculated at a rate of 110 % of the actual cost of improvements.
b. Partial lien waivers totaling the amount ofthe requested reduction shall accompany each such request.
c. Any reduction shall be subject to City approval.
However, the site has not been restored (so erosion control is being held) or landscaped. These improvements account
for 572,444 and 579,643, respectively, of the security amount, which cannot be released until the improvements have
been installed and inspected by the City.
Robert Generous, AICP
Senior Planner
CITY OF CHANHASSEN
PH. 952.227.1131
FX. 952.227.',t',t1o
www.chanhasgemn qoy
o rA
From: Todd Simning <todd@ADoR-HOM ES.coM>
Sent: Tuesday, January 10, 2023 5:56 PM
To: Generous, Bob <bgenerous@chanhassenm n.gov>; Aanenson, Kate <kaanenson@cha nhassenmn.gov>
Cc: Craig Hanson <craig.ha nson @silvercreekequitv.com>; Jamison Kohout <i@>;
Tyler Manning <T ler. M nntn bwbmn.com>
3
Subiect: Lake Place Letter of Credit
PROCEDURES FOR
TETTER OF CREDIT REDUCTION
a. Requests for reductions of Letters of Credit must be submitted to the City in writing by the Developer or
his Engineer.
lf you have additional questions or need more information, please contact me.
Bob
Bob and Kate - What do we need to do to 8et the S1O6,XXX letter of credit for lake place released or reduced? We have
the temporary certificate or occupan.v. wi ao havea ioughly 5t9,000 LoC with the watershed left for stabilization of
the pond but otherwise that one has been released.
tf you can help, we'd appreciate. l've included Tyler our banker on this thread who is with Bridgewater Bank' Thank
you.
Todd M. Simning
E
ADOR
Bi'POKT FOME!
350 Hwy 7, Suite 218
Excelsior, MN 55331
Mobile: 612-590-8099
Office: 952-351-0832
* Please note that my email has changed to todd ador-home s.com
BRIDGEWATER BANK
IRREVOCABLE LETTER OF CRDDIT
TO: City ofChanlassen
7700 Market Boulevard, Box 147
Chanhassen, Minnesota 553 I 7
Dear Sir or Madam:
The draft must:
b) Be siped by the Mayor or City Manager of the City of Chanhassen.
c) Be prcsented for payment at.t450 Exc€lsior Boulevard, Suite 100, St. Louis Parlq MN
55416, on or before 4:00 p.rn. on Novernbcr 30, 2022.
This Letter of Credit shall aulomsticslly renew for successive one-ye8r terms unless, at
least forty-five (45) days prior to the next annual renewal date (which shall be November 30 of
each year beginning n 2022), tJla Bank delivers uritten notice to the Chanhassen City Manager
thrt it intends to modi! the terms of, or cancel, this Letter of Credit. Written notice is effective if
sent by certifed mail, postage p(epai( and deposited in the U.S. Mail, at least forty-five (45) days
prior to the nex amual renewal date addressed as follows: Chanhassen City Manager, Chanhassen
City Hall, 77OO l,lad(et Boulevard, P.O. Box I47, Chsnhassen, MN 5531 7, and is scuslly received
by the City Mamger et lesst thirty (30) days priot to the renewal &te.
This Leter of Credit sets forth in full our un&rsranling which slrall not in any way be
modified, amenale4 aoplified, or limited by reference to any document, ingument, or sgreemetrt'
whether or not referred to hetein.
:r:-i.,lia:ali,.:::'it :-. ::.. : '. :::. 1.'!;
-::l iii:i:P :r.!'',.
No.643
D*r:May 20,2021
We hereby issue, for the account of Lakes at Chanhasseo LLC-and in your favor, our
Irrevocable Leter of Cr€dit in the amount of $ 106,986.50, available to you by your draft drawn
on sight on the uadersigned bank.
a) Bear the clause, "Drawn under Lener of Credit No. 643, datal May 20,2021, of
Bridgewater Bank;
ThisLenerofCreditisnotassigrrable.ThisisnotaNotatiorrLettetofCredit'Morethan
one d,raw may be made under this Leuer of Credit'
ThisLenerofCreditshatlbegovemedbyrhemostrecentrevisionoftheUniformCusloms
and Practice for Documentary i*ii, r"it-""l'"r Chmber of Cmmerce Publication No' 600'
drawn un&t and in Credit shall
We hercbY agree that a draft
be duly honored upon presentation'
BY
Its:Vice
: r..,,1;[;-ijt,,.-il,i'.t-:.,[!t;i,Srr'ilr,'r.].'r-i:Sliir'.lllll.llf
:,:r: i;.r -!r" Pr.,l irr
CITY OF CHANI{ASSEN
P O BOX 14?
CI{ANI{ASSEN I{N 5 5317
06/10/202L 3:52 PM
ReceipE No. 0 04 ?4 515
CL,ERK: kimh
PAYEE: ExecuEive Title
11LL2 86th Avenue N
Maple Grove MN 55359-
1351 Lake Drive !{
Park Fees
Tot.a1
cash
check
Change
40821
194,333 .00
194,333 .00
0. 00
19,{,333.00
0.00
EITY OF CHANIIASSEN
P O BOX 147
CT{A}IHASSEN MN 5 5317
06/L6/2O2L 11:21 Al4
Receipt, No. 00475018
CLERK r kirnh
PAYEE: TPS Holding LLC
350 Highway 7 Suite 218
Excelsior MN 5 53 31-
PC #2 o 21- 04
Traf f j.c SEudy Escrow
ToEaI
cash
Check 10 51
change
2 ,200 . o0
2,200.00
0.00
2, 200.00
0.00
f'\
(-.-'
January 13.2023
City of Chanhasscn
7700 Market Blvd. Box 147
Chanhassen. MN 55317
Re: Lettcr ofCredit # 643
Sincerely,
Tyler
Senior Vice President
BRIDCEWATER BANK
Lending
To Whom It May Concem:
Per your request Letter of Crcdit # (64O issued to you in your favor for the account of Lakes at
Chanhassen LLC, a Minnesota Limited Liability Compar, y, has becn reduced to $92,087.00. All
other terms and conditions listed in the original Letter of Credit remain unchanged.
BRII}8EWATTR BAI{I( . 4450 UCELSI(}R BLVO., SUITE I(lO ' SI LOUIS PARI(. MN 55418
9s2.893.6868. 8W8MN.C0M
c tclo !.tn- a.l r! It lnr'
Potter, Jenny
From:
Sent:
To:
Cc:
Subject:
Generous, Bob
[/onday, January 23,2023 1:57 PM
Tyler Manning
Amber Storms; Henricksen, Erik; Potter, lenny
RE: Lake Place Letter of Credit
Tyler,
The Lake Place site plan letter of credit may be reduced to 592,087
Bob
From: Tyler Manning <Tyler.Manning@bwbmn.com>
Sent: Monday, January 23, 2023 1:40 PM
To: Generous, Bob <bgenerous@chanhassenmn.gov>
Cc: Amber Storms <Amber.Storms@bwbmn.com>; Henricksen, Erik <ehenricksen@chanhassenmn.gov>; Potter, Jenny
<jpotter@chanhassenm n.gov>
Subject: RE: Lake Place Letter of Credit
Bob - can you confirm what amount we can reduce your LC to? We areworkingon reducing644 separately, butwant
to confirm your amount before cutting the document.
Tyler
Tyler Manning
Senior Vice President Commercial Lending
370 Wabasha Street North
St. Paul, MN 55102
651 .605.2639 (Direct)
651.308.6152 (Mobile)
651.605.2600 (Office)
BV1/BMN.com
Notice: This email does not constitute an agreement to conducl transactions by electronic means and does not
create any legally binding contract or enforc€able obligation in the absence of a fully signed written contract. This
e-mait ani ariy aitachments are for the sole use oflhe inlended recipient(s) and may contain confidential and
privileged information. Any unauthorized review, use, disclosure or distribution of any kind is strictly prohibited. lf
.
you ari not the intended recipient, please contact the sender via reply e-mail and destroy all copies of the original
message. Thank you.
From: Generous, Bob <bgenerous@chanhassenmn.gov>
sent: Thursday, January 12, 2023 2:oo PM
1
To: Tyler Manning <Tyler.Manning@bwbmn.com>
Cc: Amber Storms <Amber.Storms@bwbmn.com>; Henricksen, Erik <ehenricksen@chanhassenmn.gov>; Potter, Jenny
<jpotter@chanhassenmn.gov>
Subiect: [Externall RE: Lake Place Letter of Credit
Tyler,
I do not have a letter of credit for 5477 ,347 . Our LOC, #643, is for 5106,985.50. l'll verify with Engineering if the LOC can
be reduced.
Bob
From: Tyler Manning <Tvler. Ma nning@ bwbm n.com>
Sent: Thursday, January 12, 2023 1:48 PM
To: Generous, Bob <e nero us h nhassenmn
Cc' Amber Storms <Ambe r.Sto rm s@ bwbm n.co m >
Subject: RE: Lake Place Letter of credit
Bob - to be clear - your letter of credit (no 644) can be reduced from 5477 ,347 lo $92,087?
Tyler Manning
Senior Vice President Commercial Lending
370 Wabasha Street North
St. Paul, MN 55102
65'1.605.2639 (Direct)
651.308.6152 (Mobile)
651.605.2600 (Offrce)
BWBNIN.com
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From: Generous, Bob <be enerous @ cha nhassenm n.gov>
Sent: Wednesday, January 71,2023 1:57 PM
To: Todd Simning <todd @ADOR-HOMES.COM>; Aanenson,Kate <kaanenson@chanhassenmn.gov>
Cc: Craig Hanson <craig.hanson@silvercreekequitv.com>;Jamison Kohout <iamison.kohout@silvercreekequity.com>
Tyler Manning <Tvler.Mannine(abwbmn.com>; Henricksen,Erik <ehenricksen
<iseidl@ch anhassenm n.qov>
Subject: lExternal] RE: Lake Place Letter of Credit
2
chanha nmn ; Seidl, Joe
BR]DGEWATER BANK
November 28,2023
City of Chanhassen
7700 Market Blvd, Box 147
Chanhassen, MN 55317
Re: Letter of Credit # o+:
To Whom It May Concern:
This letter hereby extends Letter of Credit # (643) issued to you in your favor for the account of
Lakes at Chanhassen, LLC, a Minnesota Limited Liability Company. The above-mentioned
Letter of Credit has hereby been extended to May 24,2024. All other terms and conditions listed
in the original Letter of Credit remain unchanged.
Sincerely,
Tyler
Senior Vice
952.737.4799
952.737.4791
370 Wabasha Street Nort!'t
Suite 1500
St. Paul, MN 55102
PHONE
rAx
brid gew ate r bankm n. com
I
BRIDGEWATER BANK
June 12, 2024
City of Chanhassen
7700 Market BIvd, Box 147
Chanhassen, MN 553 17
Re: Letter of Credit # o+:
To Whom Tt Mav Concern:
This letter hereby extends Letter of Credit # (oq:) issued to you in your favor for the account of
Lakes at Chanhassen, LLC, a Minnesota Limited Liability Company. The above-mentioned
Letter of Credit has hereby been extended to May 24,2025 . All other terms and conditions listed
in the original Letter of Credit remain unchanged.
Sincerely,
Tyler
Senior Vice President
370 Wabasha Street Norih
Suite 1500
St. PBol, MN 55102
952.137.4799
952.737.4791
b r i d gew ate r b a nk m n. co m