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lc extensionApril 30, 2007 Mr. Thomas Johnson Vice President Bridgewater Bank 3800 American Boulevard West, Suite 100 Bloomington, MN 55431 Re: Gateway North Site Plan Agreement 2006-05 Dear Mr. Johnson: According to our records, Letter of Credit #112 is scheduled to expire on May 31, 2007. At this time, it does not appear the project will be completed by that deadline; therefore, an extension for another year will be required until May 31, 2008. Please send written acknowledgement of this extension no later than May 15, 2007. If you have any questions or concerns, please contact me at 952-227-1134 or by email at saljaff@ci.chanhassen.mn.us. Sincerely, CITY OF CHANHASSEN Sharmeen Al-Jaff Senior Planner SA:ktm g:\plan\2006 planning cases\06-05 gateway north subdivision-gateway place site plan\lc extension.doc