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Letter of Credit 7036841' " .. - < . 1' 2M 1a I8r17bBKe2000 r24 W T F +,aj �5j M "T W T F rte. 15,% M T W T F _S' �( 1 2 .. 4 9 1X42 6 7 8 9 0 11 �3 4 5 6 8 V t3y 14 15 16 1 i11 11 4 21 22 23 24 25 r f 18 19 20 21 22 M 26 27 28 28 29 30 31 25 26 27 28 29 VP Securities St2rt 3... ry N >: -,'` 4 # a.. <:z�.w . �.� ...� .� � .. r,.a�� ..'��, ..:.. `-� " °: `4, ,. °, . �R�O `h�� 6/1/10 6/1/10 LC #703684 Expires 4/19/07 Minger Construction Lot 4, Block 2, Chanhassen West Business Park Site Plan Agreement 05 -27 Planning Case 2005 -27 $5,000 ($2,500 - boulevard restoration & $2,500 - erosion control) Automatically renews for additional 12 -month periods. Notify Bob Generous on 3/1/07 3/1/07 - Per Bob Generous, allow LC to renew for another year. Check status 7/1/07. 7/27/07 - Per Jill, seed/erosion control not sufficient. Retain LC for another year. Check status 6/1/08. Kim 6/2/08 - Jill, status? Kim 6/3/08 - Jill inspected the site and found the following: Remove dead transplanted maple 2 dead oaks by entrance sign 2 dead parking lot trees I missing tree in parking lot in north island (only I tree by rain garden - should be more ?) Dead plants in rain garden Check status 7/31/08. Kim 8/27/08 - Bob /Jill, status? Kim 9/11/08 - Per Jill there are still dead trees /missing tree. Ground cover on eastern open area sparse. Check status 6/1/09. Kim 7/2/09 - Notified Bob /Jill. Kim 7/21109 - Per Jill the site is a bit of a mess. Lots of weed the raingarden, a missing tree in an island, dying oaks by the entrance sign, but no erosion. It doesn't appear that the landscaping is cared for at all. Continue to hold LC and see if conditions improve. Check status 10/1/09. Kim 10/2/09 - Notified Bob /Jill. Kim 10/7/09 - Jill spoke with Pat and Karen Minger regarding outstanding issues: weed rain garden, cut down dead oak near cul -de -sac, remove staking from trees. City will be contacted when work is done and LC can then be released. Kim 6/4/10 -Notified Jill. Kim 9/28/10 - Per Jill, ok to release letter of credit. Returned to bank with letter on 9/29/10. Activity closed. Kim ....... ..............................: ......................................................................................................................................................................................................... ............................... September 29, 2010 CITY OF CHMNSEN 7700 Market Boulevard PO Box 147 Chanhassen, MN 55317 Mr. Thomas J. Hughes A.V.P. Commercial Lending Community Bank Chanhassen 455 Pond Promenade P.O. Box 1177 Chanhassen, MN 55317 Administration Re: Release of Letter of Credit No. 703684 Phone: 952.227.1100 Fax: 952.227.1110 Minger Construction Site Plan Agreement 2005 -27 Building Inspections Dear Mr. Hughes: Phone: 952.227.1180 Fax: 952.227.1190 Enclosed is Letter of Credit No. 703684 in the amount of $5,000. I have Engineering inspected the landscaping on the referenced project and have found it to be Phone: 952.227.1160 acceptable; therefore, I am returning the letter of credit. Fax: 952.227.1170 If you have any questions or concerns, please contact me by email at Finance jsinclair @ci.chanhassen.mn.us or at 952- 227 -1133. Phone: 952.227.1140 Fax: 952.227.1110 Sincerely; Park & Recreation Phone: 952.227.1120 CITY OF'CHANHASSEN Fax: 952.227.1110 Recreation Center ,• 00 . 2310 Coulter Boulevard r Phone: 952.227.1400 Jill Sinclair Fax: 952.227.1404 Environmental Resources Coordinator Planning& JS:ktm Natural Resources Phone: 952.227.1130 Fax: 952.227.1110 Enclosure: Letter of Credit No. 703684 Public Works c: Pat Minger, Minger Construction 1591 Park Road Phone: 952.227.1300 Fax: 952.227.1310 gAplan\2005 planning cases \05 -27 minger construction site plan\lc release letter 9- 29- 10.doc Senior Center Phone: 952.227.1125 Fax: 952.227.1110 Web Site www.ci.chanhassen.mn.us Chanhassen is a Community for Life - Providing for Today and Planning for Tomorrow 6100pa COMMUNITY BANK CHANHASSEN OFFICE 455 Pond Promenade • PO Box 1177 • Chanhassen, MN 55317.952- 227 -2265 • Fax: 952 -227 -2424 • E -mail: mail@cbchanhassen.com April 19, 2006 IRREVOCABLE LETTER OF CREDIT NO. 703684 To: City of Chanhassen Applicant Name: MP Development, LLC Gentlemen: At the request and instructions of our customer, MP Development, LLC, we have established this clean Irrevocable Letter of Credit in favor of the aforesaid addressee (Beneficiary) for drawings up to $5,000.00 effective immediately. This Letter of Credit is issued, presentable and payable at our office in Chanhassen, Minnesota and expires with our close of business on April 19, 2007 unless renewed. After the letter has been issued, it can not be revoked or reduced without the consent of the Beneficiary. The term Beneficiary includes any successor by operation of law of the Beneficiary including, without limitation, any liquidator, rehabilitator, receiver or conservator. We hereby undertake to promptly honor your sight draft (s) drawn on us, indicating our letter of credit No. 703684 and a sworn affidavit stating that the developer is in default of that certain Site Plan Agreement #05 -26 between the City of Chanhassen and the developer, dated and to the attention of Thomas J. Hughes, for all or any part of this credit if presented at our office on or before three PM on the expiry date or any automatically extended expiry date. This Letter of Credit shall automatically renew for additional 12 month periods unless the bank notifies the City of Chanhassen via certified mail within 60 days of any expiry date. If you choose, you will be able to draw on this Letter of Credit more than once, so long as the sum of all amounts, which you have drawn, does not exceed the full amount of the Letter of Credit. This Letter of Credit sets forth in full the terms of our undertaking and such undertaking shall not in any way be modified, amended, or amplified by reference to any note, document, instrument, or agreement referred to herein or in which this Letter of Credit relates and any such reference shall not be deemed to be incorporated herein by reference to any note, document or agreement. The obligation of Community Bank Chanhassen under this Letter of Credit is the individual obligation of the bank and is in no way contingent upon reimbursement with respect hereto. Except as otherwise stated, this irrevocable Letter of Credit is subject to the Uniform Customs and Practice of the Documentary Credits (1993 version) of the International Chamber of Commerce Publications #500. Res ec Thomas J. Hughes A.V.P Commercial Lending An Office of Community Bank Corporation