Letter of Credit 716073 Release Letter 11-19-20157700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
Administration
Phone: 952.227.1100
Fax: 952.227.1110
Building Inspections
Phone: 952.227.11 80
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
7901 Park Place
Phone: 952.227.1300
Fax: 952.227.1310
Senior Center
Phone: 952.2271125
Fax: 952.227.1110
Website
www.c i.chan hassen. mn.us
November 19, 2015
Steve Weitz
Market President
Charter Bank
455 Pond Promenade
Chanhassen, MN 55317
Re: Village Shoppes of Chanhassen
Letter of Credit No. 716073
Site Plan Agreement 2014-24
Dear Mr. Weitz:
With the exception of landscaping, the above -referenced project has been
completed in general conformance with the approved site plan agreement. We are
in receipt of a cash escrow in the amount of $1,700 from Chanhassen Retail LLC
to guarantee the landscaping portion of the project. Enclosed please find your
original letter of credit.
Sincerely,
CITY OF NHASSEN
Robert Generous, AICP
Senior Planner
I"3
Enclosure: Letter of Credit No. 716073
c: Steve Johnson, Chanhassen Retail LLC
g:\plan\2014 planning cases\2014-24 village shopper of chanhassen sub spr var sig\lc release letter 11-19-2015.docx
Chanhassen is a Community for Life - Providing for Today and Planning for Tomorrow
HZREVOCABLE LETTER OF CREDIT
No. 716073
Date: October 28, 2014
TO: City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, Minnesota 55317
Dear Sir or Madam:
We hereby issue, for the account of Chanhassen Retail, LLC and in your favor, our Irrevocable
Letter of Credit in the amount of $126,500.00, 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. 716073, dated October 28, 2014, of
Community Bank Corporation';
b) Be signed by the Mayor or City Manager of the City of Chanhassen.
c) Be presented for payment at 455 Pond Promenade, Chanhassen, MN, on or before 4:00 p.m. on
November 30, 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. 500.
We hereby agree that a draft drawn under and in compliance with this Letter of Credit shall be duly
honored upon presentation.
CO ITY BANK RPTIO
BY:
Derek Naill, Vice President
SCANNED
M�i
2000 Au '2000 September 2000
T F S S M T W T F S S M T W T F S
1 1 2 3 4 5 1 2
..5...' ..8 fi.8916 11 213,1415 i3 14 15 16 1218'19 1611 12 1314 15 16620 2122 20 2i Z 23 24 2526 iT 16 i9 20 2i 22 236 2] 2829 2128 29 30 31 — 2425 2621 28 29 30
............... ............................. .............................
Securities
Stan Due S P Category Description
10/30/2015 11/30/2015 0 LC #716073 expires 11/30/2015
Village Shoppes of Chanhassen Site Plan Agreement
Planning Case 2014-24
$126,500
Boulevard restoration, erosion control, landscaping and utility installation
Notify Bob Generous
11/19115 - Letter of Credit replace with cash escrow in the amount of $1,700 (landscaping guarantee)
from Chanhassen Retail LLC. OK to release letter of credit. Activity closed. Kim
............................................................................................................................................................................................................................
................ ........... .................................................................................................................................................. ......................................... I ....
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0 Lotus Development Corp. 1111&2015 M 2:43 PM S=Status P=Pnonty Pape 1
(-CharterBank
October 30, 2015
Mr. Bob Generous
City of Chanhassen
7700 Market Blvd
P.O. Box 147
Chanhassen MN 55317
RE: Cancellation of Letter of Credit No. 716073
Chanhassen Retail, LLC
Dear Mr. Generous,
RECEIVED
NOV 0 2 2015
CITY OF CHANHASSEN
This letter serves as written notice in response to your email dated 10/30/15 confirming all conditions
have been satisfied and that the above referenced letter of credit will be cancelled and not renewed.
If you have any questions, please let me know.
Sincerely,,
Steve Weitz
Market President
Charter Bank, Successor in Interest to
Community Bank Corporation
952-227-2434
sweitz2cbchanhassen.com
706 Walnut Street • Chaska, MN 55318 • 952-361-2265 • Fax: 952-361-2200
455 Pond Promenade • Chanhassen, MN 55317 • 952-227-2265 • Fax: 952-227-2424
Meuwissen, Kim
From: Steven Weitz <sweitz@cbchanhassen.com>
Sent: Friday, October 30, 2015 9:36 AM
To: Generous, Bob
Cc: Meuwissen, Kim; JAY SCOTT (JayScott@solomonre.com)
Subject: RE: The Villages Shoppes of Chanhassen
Thanks Bob.
Steve Weitz I Market President
Charter Bank 1 455 Pond Promenade, Chanhassen, MN 55317
952-227-2434 tel 1952-227-2424 fax
www.communitybankcorp.com
CONFIDENTIALITY NOTICE: The information contained in this e-mail communication and any attached documentation may be privileged, confidential or otherwise
protected from disclosure and is intended only for the use of the designated recipient(s). It is not intended for transmission to, or receipt by, any unauthorized
person. The use, distribution, transmittal or re -transmittal by an unintended recipient of this communication is strictly prohibited without our express approval in
writing or by e-mail. If you are not the intended recipient of this e-mail, please delete it from your system without copying it and notify the above sender so that our
e-mail address may be corrected.
From: Generous, Bob [mailto:bgenerous@ci.chanhassen.mn.us]
Sent: Friday, October 30, 2015 9:21 AM
To: Steven Weitz <sweitz@cbchanhassen.com>
Cc: Meuwissen, Kim <kmeuwissen@ci.chanhassen.mn.us>; JAY SCOTT (JayScott@solomonre.com)
<JayScott@solomo n re.com>
Subject: The Villages Shoppes of Chanhassen
Steve,
The Developer, Solomon Real Estate Group, has completed the installation of all required improvements for Planning
Case #2014-24 so the letter of credit may be released and does not have to be renewed.
The developer will be providing a separate check to the city to satisfy our maintenance security for site landscaping.
If you have any questions or need more information, please contact me.
Bob
Robert Generous, AICP
Senior Planner
7700 Market Boulevard
P.O.Box 147
Chanhassen, MN 55317
(952)227-1131
bsenerousftci.chan hassen.mn.us
Chanhassen is a Community for Life—
Providing for Today and Planning for Tomorrow
CONFIDENTIALITY NOTICE: The information contained in this e-mail communication and any attached documentation may be
privileged, confidential or otherwise protected from disclosure and is intended only for the use of the designated recipient(s). It is not
intended for transmission to, or receipt by, any unauthorized person. The use, distribution, transmittal or re -transmittal by an
unintended recipient of this communication is strictly prohibited without our express approval in writing or by e-mail. If you are not
the intended recipient of this e-mail, please delete it from your system without copying it and notify the above sender so that our e-
mail address may be corrected.