14-11 Escrow DocumentsJul 2000
S M T W T F
Au WNW
S M T W T F S
Se tembe, 2000
S M T W T F S
2 3 4 5 6 7 &
9 101112131416
161]18192021 22
....24.. 5 .................
23 24 25 26 2] 28 29
1 2 3 4 5
6. .�.. e...9 ..10 .1.1..12
131415.16.11 19.16
20212223242526
21 28 29 30 31
1 2
.3...q ...S...fi .. ....8...5
19111213141516
17191920212223
24 25262128 2930
Securities
tatan Due S p Category Description
7/31/2016 7/312016 F Escrows 0 LC 10803 from MidCounny Bank dated 216/15
Dakota Retail (Sinclair Site)
Site Plan Agreement 2014-11
$50,000
(landscaping, grading, erosion control, utility extension, etc.)
NOTE: This letter of credit replaces a cash escrow in the amount of 549,280 received from The
Dtiessen Group LLC on 12/9/14, Check #5053.
Notify Shalmcen AI -Jaff
NbDCouNTRY
BANK
II2REVOCABLE LETTER OF CREDIT
TO: City of Chanhassen RECEIVED
7700 Market Boulevard, Box 147
Chanhassen, Minnesota 55317 FEB 10 2015
Dear Sir or Madam: CITY OF CHANHASSM
Letter of Credit No. 10803
Date: February 6, 2015
We hereby issue, for the account of Chanhassen Dakota Retail One, LLC_and in your favor, our
Irrevocable Letter of Credit in the amount of $50,000, 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. 10803, dated February 6, 2015, of
MidCountry Bank;
b) Be signed by the Mayor or City Manager of the City of Chanhassen.
c) Be presented for payment at 7825 Washington Ave S, Suite 120, Bloomington, MN 55438, on or
before 4:00 p.m. on November 21, 2015.
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 November 30 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.
MidCou
B. Todd tr ed 2
Its: Senior ice President
FDIC 7825 Washington Ave. South, Suite 4120 • Bloomington, MN 55439 ^
www.MidCountryBank.com .
CITY OF CHANHASSEN
P 0 BOX 147
CHANHASSEN MN 55317
12/09/2014 10:52 AM
Receipt No. 00270188
CLERK: AshleyM
PAYEE: The Driessen Group LLC
4999 France Ave S Ste 216
Minneapolis MN 55410-
14-11 Dakota Retail
-------------------------------------------------------
Security Escrow 49,280.00
Total
Cash
Check 5053
Change
49,280.00
0.00
49,280.00
0.00