Letter of Credit 7295Status Report Saturday, June 01, 2013 PIan.OR6
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Securities
6/1/2013 7/31/2013 F LC #7295 5/25/13 (automatically renews for successive one -year terms)
Primrose School of Chanhassen Site Plan 2012 -02
Lot 1, Block 1, Crossroads of Chanhassen 2nd Addition
$58,008.75
(grading, erosion control, landscaping, storm water, sanitary, etc.)
Notify Sharmeen AI -Jaff /Joe Shamla
........................................................................................................................................................................................... ............................... .
GLEN LAKE
14550 Excelsior Blvd.
Minnetonka, MN SS34S
952.935.8663
fax 952.935.4957
COUNTRY VILLAGE
11500 Highway 7
Minnetonka, MN 55305
952.935.5995
fax 952.935.1611
www.fmcbank.com
IRREVOCABLE LETTER OF CREDIT
FIRST MINNETONKA
CITY BANK
No. 7295
Date: May 25, 2012
TO: City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, Minnesota 55317
Dear Sir or Madam:
We hereby issue, for the account of MEP2, LLC and in your favor, our Irrevocable Letter
of Credit in the amount of $58,008.75 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. 7295, dated May 25, 2012 of First
Minnetonka City Bank ";
b) Be signed by the Mayor or City Manager of the City of Chanhassen.
c) Be presented for payment at 14550 Excelsior Blvd, Minnetonka, MN 55345, on
or before 4:00 p.m. on May 25, 2013.
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 May 25_ 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 duly honored upon presentation.
BYE
Scott A. Elleraas
Its Vice President
Member FDIC