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.. • ��U� / � �l�/-�C'�% f�� l�f <br /> , _ ��_ , <br /> �EAGI�� VALLE��� <br /> Burns�.��le �A�� <br /> 3000 W. Co. RD. 42, P.O. BOX 1 173 Si,ice1919 PHONE 952-736-7775 <br /> BURNSviLLE, MN 55337 FAX 952-736-2301 <br /> March 24, 2005 <br /> City of Orono <br /> P.O. Box 66 <br /> Crystal Bay, MN 55323 <br /> We open Irrevocable Standby Letter of Credit Number 1182 in the amount of Thirty Two <br /> Thousand Four Hundred Thirty and 00/100 ($32,430.00) U.S. Dollars in favor of yourselves <br /> for the account of Eric J. Vogstrom expires June 30, 2008 at our counters. <br /> Available against drafts drawn at sight on Eagle Valley Bank,N.A., 3000 County Road 42 <br /> W, Burnsville, MN 55337 bearing the clause, "Drawn under Standby Letter of Credit No. <br /> 1182 of Eagle Valley Bank,N.A., 3000 County Road 42 W, Burnsville, MN 55337." <br /> Accompanied by: <br /> 1. A beneficiary's signed statement stating Eric J. Vogstrom has defaulted under the <br /> terms and conditions of the agreement concerning the Vegetation Restoration Plan in <br /> conjunction with the North 80 feet of Block 3, Winships Subdivision of Lot 1, Sprint <br /> Park Addition, Hennepin County, Minnesota, Orono, between the City of Orono and <br /> Eric J. Vogstrom. <br /> 2. This original Letter of Credit for Endorsement. <br /> Special Condition (s): <br /> L The Letter of Credit expires June 30, 2008. <br /> Payment will be made at the counter of Eagle Valley Bank,N.A., Attn: Standby Letter of <br /> Credit No. 1182, 3000 County Road 42, Burnsville,MN 55337. <br /> This credit is subject to the uniform customs and practice for documentary unless otherwise <br /> stated, all documents are to be forwarded to us by maii, or nand deiivered to our counters. <br /> Documents to be directed to: Eagle Valley Bank,N.A. <br /> 3000 County Road 42 W <br /> Burnsville, NIN 55337 <br /> We hereby engaQe with drawers and/or bond fide holders that drafts drawn and negotiated in - <br /> conformity with the terms of this credit will be duly honored upon presentation. <br /> Eagle Valley Bank,N.A. <br /> `�� �� � � ��� <br /> � � �, �;� cv �' <br /> Kevin D. Thielfoldt—Vice Presi�ent ' <br /> Our business is communitti buildino. <br /> �-, . i ,—� t . _._ �,__ i_.._._"' ... .. ...�,. �nicR CITF �n�����n�AaniA��allavhankcnm <br />