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CITY OF ORONO <br /> a Street Address: Mailing Address: Telephone(952)249-4600 <br /> 2750 Kelley Parkway P.O.Box 66 Fax (952)249-4616 <br /> Orono,MN 55356 Crystal Bay,MN 55323 I www.d.orono.mn.us <br /> �kPSHO� <br /> 18 October 2016 <br /> Bank of America N.A. <br /> Scranton Standby <br /> Trade Operations PA6-580-02-30 <br /> 1 Fleet Way <br /> Scranton, PA 18507 <br /> Re: Crystal Bay Business Center-Authorization for Cancellation of the Letter of Credit <br /> Ref.: Bank of America, N.A.; LOC No. 68023525 <br /> Dated July 30, 2014 <br /> Upon receipt of a replacement letter of credit from the new owner of the property at 430 Old Crystal Bay <br /> Road North and described as Lot 1, Block 1, Crystal Bay Business Center,we are hereby authorizing the <br /> release and cancellation of your letter of credit as follows: <br /> Original Current/Final Amount to <br /> mount Reduction Remain In Effect <br /> LOC No. 68023525 $ 400,347.00 $400,347.00 $0 <br /> This letter will serve as City of Orono authorization to you and to Bank of America, N.A.to allow release <br /> and cancellation of LOC No. 68023525 effective immediately;the original LOC Is enclosed herein. <br /> Please contact me at 952.249.4627 or mcufft@ciorono.mn.us if you have any questions. <br /> Sincerely, <br /> CITY OF ORONO <br /> r <br /> Melanie Curtis <br /> Planner <br /> end <br /> Copies via email: Casey Hankinson, Ryan Companies <br /> Ronald Olson, Orono Finance Director <br />