Letter of Credit 112
Status Report 4/30/07 plan.OR2
July 2000
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~ Securities
I Start Due
4/30/07 5/31/07
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Category
Description
LC #112 expires 5/31/07 at 4:00 p.m.
Lot I, Block I, Gateway North
Site Plan Agreement 06-05
Planning Case 2006-05
$63,800
Notify Sharmeen AI-laff on 4/30/07
C 2006 Lotus Development Corp.
5I30106aI4:11 PM S=Status P=Priority
Page 1
CITY OF CHANHASSEN
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MAY 2 4 2006
ENGINEERING DEPT.
IRREVOCABLE LETTER OF CREDIT
No. 112
Date: May 24, 2006
TO: City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, Minnesota 55317
Dear Sir or Madam:
We hereby issue, for the account of Chanhassen Gateway Place, LLC and in your favor, our
Irrevocable Letter of Credit in the amount of $63,800.00, 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. 112, dated May 24, 2006, of Bridgewater
Bank";
b) Be signed by the Mayor or City Manager of the City of Chanhassen.
c) Be presented for payment at 3800 American Boulevard West, Suite 100, Bloomington, MN
55431, on or before 4:00 p.m. on May 31,2007.
This Letter of Credit guarantee's Chanhassen Gateway Place, LLC's compliance with the signed
Site Plan Agreement dated February 27, 2006.
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 incompliance with this Letter of Credit shall be duly
honored upon presentation.
BY.
3800 American Boulevard West,
Suite 100
Bloomington, MN 55431
PHONE 952.893.6868
FAX 952.893.6869
bridgewaterbankmn. com