LC Release Letter 4-11-08
CITY OF
CHANHASSEN
7700 Markel Boulevard
PO Box 147
Chanhassen, MN 55317
Administration
Phone: 952.227.1100
Fax: 952.227.1110
Building Inspections
Phone: 952.227.1180
Fax: 952.227.1190
Engineering
Phone: 952.227.1160
Fax: 952.227.1170
Finance
Phone: 952.227.1140
Fax: 952.227.1110
Park & Recreation
Phone: 952.227.1120
Fax: 952.227.1110
Recreation Center
2310 Coulter Boulevard
Phone: 952.227.1400
Fax: 952.227.1404
Planning &
Natural Resources
Phone: 952.227.1130
Fax: 952.227.1110
Public Works
1591 Park Road
Phone: 952.227.1300
Fax: 952.227.1310
Senior Center
Phone: 952.227.1125
Fax: 952.227.1110
Web Site
WII'W.ci.chanhassen. mn .us
April 11, 2008
Mr. Matthew C. Klein
KleinBank
301 Chestnut Street
Chaska;MN 55318
Re: Letter of Credit No. 500051
Heartland Building Addition Site Plan Agreement No. 07-05
Dear Mr. Klein:
Upon review of our records, the above-referenced letter of credit is due to expire
on April 30, 2008. Upon review of the project, it appears the project has been
completed in general conformance with Site Plan Agreement No. 07-05.
Therefore, we are now closing our files on this project and returning the original
letter of credit. .
If you have any questions, feel free to contact me.
Sincerely,
~..~.
Robert Generous
Senior Planner
RG:ktm
Enclosure
g:\plan\2007 planning cases\07-05 heartland building addition\Jc release letter.doc
The City 01 Chanhassen · A growing community with clean lakes, Quality schools, a charming downtown, thriving businesses, winding trails, and beautiful parks. A great place to live, work, and play.
ph 952-448-2350 . fax 952-448-3300 . 301 Chestnut Street. PO Box 37 . Chaska, MN 55318-0037 . www.kleinet.com
ph 952-368-6700 . fax 952-368-6705 . 120 Pioneer Trail. PO Box 37 . Chaska, MN 55318-0037 . www.kleinet.com
ph 952-403-0400 . fax 952-403-0500. 1407 Vierling Drive E . Shakopee, MN 55379 . www.kleinet.com
ph 952-361-5902 . fax 952-361-5904 . 304 North Broadway. Carver, MN 55315 . www.kleinet.com
KleinBanK
IRREVOCABLE LEITER OF CREDIT
No. 500051
Date: 04/30/07
TO: City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, Minnesota 55317
Dear Sir or Madam:
We hereby issue, for the account of Thomas F. Kordonowy, on behalf of Coeur Terra, LLP, and in your favor,
our Irrevocable Letter of Credit in the amount of $5,000.00, available to you by your draft drawn on sight on
KleinBank.
The draft must:
a) Bear the clause, "Drawn under Letter of Credit No. 500051, dated April 30, 2007, ofKleinBank";
b) Be signed by the Mayor or City Manager of the City of Chanhassen.
c) Be presented for paymentat 301 Chestnut St., Chaska, MN 55318, on or before 4:00 p.m. on April 30,
2008.
This Letter of Credit shall automatically renew for one successive one-year term unless, at least forty-five
(45) days prior to April 30,2008, the Bank delivers written notice to the Chanhassen City Manager that it intends to
modify the terms of, or cancel, this Letter of Credit. Written notice is effective if sent by certified mail, postage
prepaid, and deposited in the U.S. Mail, at least forty-five (45) days prior to April 30, 2008 addressed as follows:
Chanhassen City Manager, Chanhassen City Hall, 7700 Market Boulevard, P.O. Box 147, Chanhassen, MN 55317,
and is actually received by the City Manager at least thirty (30) days prior to the renewal date. However, under no
circumstances shall the final maturity date of this Letter of Credit be extended beyond April 30, 2009.
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.
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. Any amount drawn under this Letter of Credit shall reduce the amount available for
future draws. The maximum amount available to draw cumulatively over the term of this Letter of Credit is
$5,000.00.
This Letter of Credit shall be governed by the most recent revision of the Uniform Customs and Practice for
Documentary Credits, International Chamber of Commerce Publication No. 500.
We hereby agree that a draft drawn under and in compliance with this Letter of Credit shall be duly honored
upon presentation.
BY:
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