LC Reduction Letter 02-18-2016CITY OF February 18, 2016
7700 Market Boulevard
PC Box 147
Robert Q. Heimerman
Chanhassen, MN 55317
President — Savage Office
Fax: 952.227.1170
K1einBank
Administration
14141 Glendale Road
Phone: 952.2271100
Savage, MN 55378
Fax: 952.227.1110
acknowledgement of this reduction at your earliest convenience.
Building Inspections Re: Letter of Credit Reduction — Chanhassen Great Plains Center
Phone: 952.227.1180 Letter of Credit No. 500194 in the amount of $52,085.00
Fax: 952.227.1190 Planning Case No. 2013-23
Engineering
Dear Mr. Heimerman:
Phone: 952.227.1160
Fax: 952.227.1170
Please accept this letter as authorization to reduce Letter of Credit No. 500194 by
$44,985.00 to leave a remaining balance of $7,100.00. Please send written
Finance
Phone: 952.227.1140
acknowledgement of this reduction at your earliest convenience.
Fax: 952.227.1110
If you have any questions or concerns, please contact me by email at 952-227-1134 or
Park & Recreation
by email at saljaff@ci.chanhassen.mn.us.
Phone: 952.227.1120
Fax: 952.227.1110
Sincerely,
Recreation Center
2310 Coulter Boulevard
CITY OF CHANHASSEN
Phone: 952.227.1400
Fax: 952.227.1404
Planning &
Shatmeen Al-Jaff
Natural Resources
Phone: 952.227.1130
Senior Planner
Fax: 952.227.1110
SAJ:ktm
Public Works
7901 Park Place
Enclosure
Phone: 952.227.1300
Fax: 952.227.1310
gAplan\2013 planning casest2013-23 Chanhassen great plains center\letter of credit reduction letter 02-18-2016.doc
Senior Center
Phone: 952.227.1125
Fax: 952.227.1110
Website
www. ci. chan hassen. non. us
Chanhassen is a Community for Life - Providing for Today and Planning for Tomorrow
K/_/� Q �/ 10 "INE,
ein8A..i,A IRREVOCABLE LETTER OF CREDIT z
ph 952-895-9620 • fax 952-895-9651 •14141 Glendale Road • Savage, MN 55378 • wvvw.kleinbank.com N : M a
Date;, ZrZ-(,7j}
TO: City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, Minnesota 55317
Dear Sir or Madam:
We hereby issue, for the account of Fendler Patterson Construction, Inc. and in your favor, our Irrevocable
Letter of Credit in the amount of $52,085.00, 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. 500194, dated February 26`", 2014, of K1einBank' ;
b) Be signed by the Mayor or City Manager of the City of Chanhassen.
c) Be presented for payment at K1einBank on or before 4:00 p.m. on March 15`, 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 March I" 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.
The purpose of this letter of credit is to guarantee satisfactory completion by Fendler Patterson
Construction, Inc. of work to be performed at the Chanhassen Great Plains retail project located at 7905 Great
Plains Blvd in Chanhassen, MN, namely: landscaping, final grading, erosion control, public utilities, sanitary
sewer security and city sidewalks.
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.
K1einBa z
By:
Robert Q. H 'merman
Its: President — Savage Office
SCAN
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Member FDIC