Loading...
LC Release Ltr 11-5-19 z w 9 CITY OF ClIANIIASSEN S Chanhassen is a Community for Life-Providing forToday and Planning for Tomorrow IH AS November 5, 2019 Ms. Julie Seaton US Bank National Association Standby Letters of Credit BC-MN-H2OG 800 Nicollet Mall Minneapolis, MN 55402 Re: Letter of Credit No. SLCMMSP09654 Control Concepts - Planning Case File No. 2019-04 Dear Ms. Seaton: Enclosed please find the above-referenced original letter of credit for your files. This letter is no longer needed and can be cancelled. If you have any questions, please contact me at 952-227- 1131. Sincerely, CITY • - - HASSEN Robert Generous Senior Planner BG:jms Encl. c: Kate Aanenson, Community Development Director Corey Watkins, Control Concepts g:\plan\2019 planning cases\19-04 control concepts\Ic release letter.docx PH 952.227.1100• www.ci.chanhassen.mn.us• FX 952.227.1110 7700 MARKET BOULEVARD • PO BOX 147 • CHANHASSEN • MINNESOTA 55317 Pte- 30(9 Otr IlDbank. U.S.BANK NATIONAL ASSOCIATION SWIFT:USBKUS44 STANDBY LETTERS OF CREDIT: PHONE:612-303-7374 BC-MN-H2OG 612-303-7395 800 NICOLLET MALL FAX:612-303-5226 MINNEAPOLIS,MINNESOTA 55402 IRREVOCABLE LETTER OF CREDIT CITY OF CHANHASSEN 7700 MARKET BOULEVARD,BOX 147 CHANHASSEN,MINNESOTA 55317 NO.SLCMMSP09654 EXPIRATION DATE: NOVEMBER 30,2020 DATE:AUGUST 22,2019 DEAR SIR OR MADAM: WE HEREBY ISSUE, FOR THE ACCOUNT OF CONTROL CONCEPTS INC 18760 LAKE DRIVE EAST CHANHAASSEN, MN 55317 AND IN YOUR FAVOR, OUR IRREVOCABLE LEITER OF CREDIT IN THE AMOUNT OF $335.711.00, 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.SLCMMSP09654, DATED AUGUST 22,2019,OF"US BANK ASSOCIATION 800 NICOLLET MALL MINNEAPOLIS,MN 55402 BC-MN-H20G'; B) BE SIGNED BY THE MAYOR OR CITY MANAGER OF THE CITY OF CHANHASSEN. C) BE PRESENTED FOR PAYMENT AT US BANK ASSOCIATION 800 NICOLLET MALL MINNEAPOLIS,MN 55402 BC-MN-H2OG,ON OR BEFORE 4:00 P.M.ON NOVEMBER 30,2020. 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 WRIILEN NOTICE TO THE CHANHASSEN CITY MANAGER THAT IT INTENDS TO MODIFY THE TERMS OF,OR CANCEL,THIS LEITER 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 LE TIER OF CREDIT IS NOT ASSIGNABLE. THIS IS NOT A NOTATION LE ITER 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. U.S.BANK NATIONAL ASSOCIATION 91)AliZ:) <LQ'a/t6YM AUTHORIZED SIGNAT"JRE usbank.com