LC Release Letter 7-14-08
CITY OF
CHANIlASSEN
7700 Market 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
www.ci.chanhassen.mn.us
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July 14,2008
Mr. Thomas Johnson
Vice President
Bridgewater Bank
3800 American Boulevard West, Suite 100
Bloomington, MN 55431
Re:
Release of Letter of Credit No. 112
Gateway North Site Plan Agreement 2006-05
Dear Mr. Johnson:
According to our records, Letter of Credit #112 expired on June 30, 2008. The
project has been completed to the City's satisfaction; therefore, please find
enclosed the original letter of credit and associated extensions.
If you have any questions or concerns, please contact me at 952-227-1134 or by
email atsaliaff@ci.chanhassen.mn.us.
Sincerely,
CITY OF CHANHASSEN
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Sharmeen AI-Jaff
Senior Planner
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Enclosures
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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.
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BRIDGEWATER BANK
RECEIVED
AUG 24 2007
CITY OF CHANHASSEN
Date: July 25, 2007
City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, MN 55317
Re: LOC #112
To Whom It May Concern:
This letter herby extends Letter of Credit #112 issued to you in your favor for the account
of Chanhassen Gateway Place, LLC. The above mentioned Letter of Credit is extend to
June 30, 2008 and reduced to the amount of $3,180.00. All other terms listed in the
original Letter of Credit remain unchanged.
---
Bloomington
3800 American Blvd. West, Suite 100 PHONE 952.893.6868
Bloomington, MN 55431 FAX 952.893.6869
Greenwood
21500 Highway 7
Greenwood, MN 55331
--
PHONE 952.653.0606
FAX 952.470.3933
bndgewaterbankmn.com
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REceIVED
JUL 2 7 2007
CITY OF CHANHASSEN
BRIDGEWATER BANK
Date: July 25, 2007
City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, MN 55317
Re: LOC #112
To Whom It May Concern:
This letter herby extends Letter of Credit # 112. issued to you in your favor for the account
of Chanhassen Gateway Place, LLC. The above mentioned Letter of Credit is extend to
June 30, 2008 and reduced to the amount of $3,180.00. All other terms listed in the
original Letter of Credit remain unchanged.
Bloomington
3800 American Blvd. West, Suite 100 PHONE 952.893.6868
Bloomington, MN 55431 FAX 952.893.6869
Greenwood
21500 Highway 7
Greenwood, MN 55331
PHONE 952.653.0606
FAX 952.470.3933
bridgewaterbankmn.com
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BRIDGEWATER BANK
RECEIVED
MAY 1 5 2007
CITY OF CHANHASSEN
Date: May 11, 2007
City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, MN 55317
Re: LOC #112
To Whom It May Concern:
This letter herby extends Letter of Credit #112 issued to you in your favor for the account
of Chanhassen Gateway Place, LLC. The above mentioned Letter of Credit is extend to
June 30, 2007. All other terms listed in the original Letter of Credit remain unchanged.
Bloomington
3800 American Blvd. West, Suite 100 PHONE 952.893.6868
Bloomington, MN 55431 FAX 952.893.6869
Greenwood
21500 Highway 7
Greenwood, MN 55331
PHONE 952.653.0606
FAX 952.4 70.3933
bridgewaterbankmn.com
ClTY OF CHANHASSEN
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MAY 2 4 2006
BRIDGEWATER BANK
ENGlNEERING DEPT.
mREVOCABLE LETTER OF CREDIT
No. 112
Date: May 24, 2006
TO: City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, Minnesota 55317
Dear Sir or Madam:
We hereby issue, for the account of Chanhassen Gateway Place, LLC and in your favor, our
Irrevocable Letter of Credit in the amount of $63,800.00, 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. 112, dated May 24, 2006, of Bridgewater
Bank";
b) Be signed by the Mayor or City Manager of the City of Chanhassen.
c) Be presented for payment at 3800 American Boulevard West, Suite 100, Bloomington, MN
55431, on or before 4:00 p.m. on May 31,2007.
This Letter of Credit guarantee's Chanhassen Gateway Place, LLC's compliance with the signed
Site Plan Agreement dated February 27,2006.
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.
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.
3800 American Boulevard West,
Suite 100
Bloomington, MN 55431
PHONE 952.893.6868
FAX 952.893.6869
bridgewaterbankmn.com
Status Report 5/30/08 PLAN.OR2
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5/30/08
5/30/08
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LC #112 expires 5/31/07 at 4:00 p.m.
Lot 1, Block 1, Gateway North
Site Plan Agreement 06-05
Planning Case 2006-05
$63,800
Notify Sharmeen Al-Jaff on 4/30/07
4/30/07 - Sharmeen sent letter to bank requesting extension for another year until May 31, 2008.
Check confirmation status on 5/15/07. Kim
5/15/07 - Received extension from bank until June 30,2007. Notify Sharmeen on 6/8/07. Kim
6/7/07 - Sharmeen, status? Kim
7/27/07 - Received LC Amendment dated 7/25/07 reducing LC amount to $3,180 and extending
expiration date to 6/30/08. Check status 5/30/08.
6/2/08 - Sharmeen, status? Kim
7/1/08 - Sharmeen, status? Kim
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@2OO8 Lotus Development Corp.
............................... ...........................
7/1/08 at 8:07 AM S=Status P=Priority
Page 1
Status Report 5/30/08 PLAN.OR2
M
Securities
5/30/08
5/30/08
ItJ
LC #112 expires 5/31/07 at 4:00 p.m.
Lot 1, Block 1, Gateway North
Site Plan Agreement 06-05
Planning Case 2006-05
$63,800
Notify Sharmeen Al-Jaff on 4/30/07
4/30/07 - Sharmeen sent letter to bank requesting extension for another year until May 31, 2008.
Check confirmation status on 5/15/07. Kim
5/15/07 - Received extension from bank until June 30, 2007. Notify Sharmeen on 6/8/07. Kim
6/7/07 - Sharmeen, status? Kim
7/27/07 - Received LC Amendment dated 7/25/07 reducing LC amount to $3,180 and extending
expiration date to 6/30/08. Check status 5/30/08.
6/2/08 - Sharmeen, status? Kini
7/1/08 - Sharmeen, status? Kim
7/1 0/08 - Per Jill, OK to release LC. Activity closed. Kim
@2008 Lotus Development Corp.
7/14/08 at 3:22 PM S=Status P=Priority
Page 1
Status Report 5/30/08 plan.OR2
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., Securities
5/30/08
6/30/08
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LC #112 expires 5/31/07 at 4:00 p.m.
Lot I, Block I, Gateway North
Site Plan Agreement 06-05
Planning Case 2006-05
$63,800
Notify Sharmeen AI-Jaff on 4/30/07
4/30/07 - Sharmeen sent letter to bank requesting extension for another year until May 31, 2008.
Check confirmation status on 5115/07. Kim
5115/07 - Received extension from bank until June 30, 2007. Notify Sharmeen on 6/8/07. Kim
6/7/07 - Sharmeen, status? Kim
7/27/07 - Received LC Amendment dated 7/25/07 reducing LC amount to $3,180 and extending
expiration date to 6/30/08. Check status 5/30/08.
@2007 lotus Development Corp
7/27/07 aI11:53 AM S=Stalus P=Priority
Page 1