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` � ' Page 17 <br /> Buffalo Bituminous January 9, 1980 <br /> Buffalo, Mn. 55313 <br /> Re: File No. 13902 <br /> The City of Orono has paid out to you $327,043.80 to date and retained <br /> $36,338.20 pursuant to the contract. Request for payment No. 5 if paid would <br /> result in a retainage by the City of only $43,732.75 which is not sufficfent to <br /> protect the City's anticipated financial exposure as noted above in the total <br /> amount of $90,100. <br /> It is therefore felt that additional payments cannot be made on the project un- <br /> til your bonding campany recommends release of funds because, in the event of <br /> continued default by your company, it may be necessary for the City to seek the <br /> payments set forth above from your bonding company. <br /> If you have any questions or suggestions as to how to protect the City while <br /> still making payment to you, please contact this office. <br /> Yours very truly, <br /> BONESTR00, ROSENE, ANDERLIK & ASSOCIATES, INC. <br /> '' =����,��iww IL <br /> 1 -�t,-,.� <br /> Glenn R. Cook <br /> GRC:li <br /> cc: Richard Benson� <br /> Bruce Malkerson, Atty. <br /> Page 2. - . <br />