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� Y � <br /> 'a <br /> A11V <br /> Planning & Zoning <br /> Department <br /> Memo <br /> To: Ron Olson, Finance Director <br /> From: Melanie Curtis, Planner <br /> Date: 18 October 2016 <br /> Re: Letter of Credit—Crystal Bay Business Center <br /> Attached for your safekeeping, please find Irrevocable Letter of Credit Number 54296, dated October <br /> 4, 2016, from Lake Community Bank in Long Lake in the amount of $400,347.00. This LOC will <br /> automatically renew for successive one-year terms unless the bank delivers written notice at least 45 <br /> days prior to the next annual renew date(November 30 of each year). <br /> This LOC replaces Ryan Companies'LOC Number 68023525 dated July 30, 2014 from Bank of America <br /> in the amount of$400,347.00 which will now be cancelled. <br /> vAzoning applications\2013 #3588 thru#3644\13-3607 (bayside meadows)final plaVoc original memo to finance <br /> dept.docx <br />