Letter of Credit #1521
Status Report 5/1110 PLAN.OR2
:'{:ltl
"f"s...-;r...s....Ef...'j".
'.i.ii"Ti"'j2..'jS..'j,r
Tt"'j8..'j9..2i:r.2f
.24..2S.26..27""28.
.s1""....................... '"
_ Securities
5/1/10
6/15/10
F
Attorneys,
Escrows
II LC #1521 expires 6/10/10
(automatically renews for successive one-year terms)
Milio's Sandwiches
Addendum A to Site Plan Permit 2003-06
Planning Case 08-22
$17,500 (Landscaping)
Time of Performance: June 15,2010
Notified Sharmeen Al-Jaff
@2009 Lotus Development Corp.
717/09 a18:31 m S=Status P=Priority
Page 1
< (~
() '6 -
InterBank
IRREVOCABLE LEITER OF CREDIT
No. 1521
Date: June 10. 2009
TO: City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, Minnesota 55317
Dear Sir or Madam:
We hereby issue, for the account of KLMS Group. LLC. and in your favor, our Irrevocable Letter of
Credit in the amount of$17,500, 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. 1521, dated June 10.2009, ofluter Savines Bank. fsb.
b) Be signed by the Mayor or City Manager of the City of Chanhassen.
c) Be presented for payment at 13601 80th Circle N. Maple Grove MN 55369, on or before 4:00 p.m. on June
lQ, 2010.
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 June 10th of each year), 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
the next annual renewal date 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.
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. 600.
We hereby agree that a draft drawn under and in compliance with this Letter of Credit shall be dilly honored
upon presentation.
~~~~
Its VCe ;;-~S/~4Y
3400 West 66th Street, Suite 100 · Edina, MN 55435 · 952-920-6700 · Fax 952-920-7308
10880 175th Court. Lakeville, MN 55044. 952-435-6700. Fax 952-285-6660
1875 County Road 82 W. Roseville, MN 55113. 651-288-6700. Fax 651-288-4000
13601 80th Circle North · Maple Grove, MN 55369. 763-255-1700. Fax 763-255-1600
Chartered in 1965