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r <br />I I <br />■H- k <br />STATE BANK OF LONG LAKE <br />1964 V/. WAY2ATA BLVD. • P.O. BOX 636 <br />LONG LAKE. MINNESOTA 55356^636 • 612/473-7347 <br />Date: July 22, 1992 <br />To: City of Orono <br />p, 0. Box 66 <br />Crystal Bay, MN 55323 <br />we open irrevpeeV.le stendby Letter of credit Wo. 072292 In the f <br />0. dollers 5,000, in fevor of youreelves, for the account of Howard <br />Eisinger. <br />state Ba„h of Lono Lahe <br />^:Cird Eleinaefe project, bearing the <br />Letter of Credit No. 072292 at the State Bank of Long Lake. <br />Acconpa^ed^^by:Clary,^ signed etate.ent stating: "Howard ^singer <br />has failed to make certain payments required to be made for <br />improvements or to complete the improvements to the satis­ <br />faction of the city, pursuant to the City Per^t. concerning <br />Howard Eisinger's project, between the City of Orono and <br />Howard Eisinger. <br />2. This original Letter of Credit for endorsement. <br />Special^Conditio^^ of Credit is automatically renewable without <br />amendment for an additional six-month period <br />expiry date or any future expiry date, unless sixty 60) days <br />pr?or to said expiry date, we shall notify you in b/ <br />registered mail, that we have elected not to renew this better <br />of Ledit, but in no event shall the expiry date extend beyond <br />Payment’^^ll^be made at the counter of the State Bank of Long Lake, <br />Thi* «a^t^a subject to the uniform customs and practice for <br />»S^»r«h.xwis, s«t.d, aU dpcun.n.s ar. to b, forwardad <br />tta hv mail or hand delivered to our counters. <br />c:c“.nL“o be directed to: State Banh of Loog Lake, 1964 West Wayrata <br />honorad upon presGntation, <br />State Bank of Long Laj^» Long Lake, iMinnesota <br />I V> \ \ I V V OA " • t - - - ^ I ........................... <br />Marcia Plotnik, Assistant Vide President <br />/A FULL' <br />;SERVICE; <br />V DANK/I <br />Confinuoys Banning 5»nci» 1905 nm