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� � B <br /> INDEPENDENT <br /> IRREVOCABLE STANDBY LETTER OF CREDIT NO. 779 <br /> City of Orono Date: December 23, 2005 <br /> 2750 Kelley Parkway Amount: $5,250.00 <br /> Crystal Bay MN 55323 Expiration: December 22, 2006 <br /> To Whom It May Concern: <br /> We hereby authorize you to draw on CITIZENS INDEPENDENT BANK, 5000 West <br /> 36`h St. St. Louis Park, MN 55416, up to but not exceeding the aggregate amount of five <br /> thousand two hundred fifty dollars and zero cents (($5,250.00) for the account of The <br /> Danberry Company Inc., 4410 Shoreline Drive, Spring Park MN 55384, available by <br /> your draft at sight effective December 23, 2005. <br /> This credit is being used for firture septic work in corulection with the property at 509 <br /> Ferndale Road, Orono MN 55391. a <br /> We hereby agree with drawers, endorsers and bona fide holders of drafts negotiated under <br /> and in compliance with the terms of this credit that the same shall be duly honored upon <br /> presentation to us at our bank house from December 23, 2005 to December 22, 2006. <br /> All drafts must bear the phrase: "Drawn under Citizens Independent Bank Letter of <br /> Creciit No. 779" and shall be accompanied by a statement signed by an official of the city <br /> of Orono that payment has not been made by our customers. <br /> The credit is subject to the Uniform Customs and Practice for pocumentary Credit, ICC <br /> Publication NO. 500 (1993 Revision). <br /> Very Truly Yours, <br /> Citizens Independent Bank <br /> --'��� >-W- a� ��.� �z_ <br /> BY: Joan M. Kall nberg <br /> ITS: Vice President Commercia Banking <br /> St.louis Park Robbinsdale Hop!<ins Plymoirih <br /> 5000 West 36th Street 3700 West Broadway 10901 Excelsior Blvd. 15650 36th Avenue North <br /> St. Louis Park, MM 55416 Robbinsdale, MN 55422 Hopl<ins, MN 55343 Plymouth, M�l 55446 <br /> 952-926-6561 763-588-2715 952-935-3333 763-550-9191 <br /> 'r�f�����i unncinir i cn�nc❑ W bV NI.�J cl li'(,C!�J.C�:'ll ME���18EA P�IC <br />