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<br /> November 10, 1994
<br /> To: City of Orono
<br /> P.O. Box 66
<br /> Crystal Bay, MN 55323
<br /> We open inevocable Standby Letter of Credit Number 10008624 in the amount of Six Thousand Seven
<br /> ' Hundred Fifty and 00/100 U.S. Dollars ($6,750.00}.
<br /> In favor of yourselves.
<br /> For the account of Streeter & Associates, Inc.
<br /> E�ires June 15, 1996 at our counters.
<br /> Available against drafts drawn at sight on AmeriBank, 1809 Plymouth Road South, Minnetonka, MN
<br /> 55305 bearing the clause, "Drawn under Standby Letter of Credit No. 10008624 of AmeriBank".
<br /> ACCOMPANIED BY:
<br /> l. A beneficiary's sib e� statement stating: "Streeter & Associates, Inc. has failed to make certain
<br /> payments required to be made for the improvements or complete the improvements to the
<br /> satisfaction of the City, pursuant to the Restoration Agreement between the City of Orono and
<br /> Streeter & A.ssociates, Inc."
<br /> 2. This original Letter of Credit for endorsement.
<br /> SPECIAL CONDITION(S):
<br /> 1. This Letter of Credit is automatically renewable without amendment for an additional six month
<br /> period from the present e�cpire days or any future expiry date, unless sixty (60) days prior to said
<br /> expiry date we shall notify you in writing, by registered mail, that we have elected not to renew this
<br /> letter of credit, but in no event shall the expiry date extend beyond June 15, 1996.
<br /> Payment will be made at the count of AmeriBank, 1809 Plymouth Road South, Minnetonka IVIN 5�30�,
<br /> this credit is subject to the uniform customs and practice for documentary unless otherwise stated, all
<br /> documents are to be forwarded to us by mail, or hand delivered to our counters. Documents to be
<br /> � directed to: AmeriBank 1809 Plymouth Road South, Minnetonka, MN 55305. We hereby engage w�ith
<br /> drawers and/or Bona Fide holders that drafts drawn and negotiated in confor ' with the terms of this
<br /> credit will be duly honored upon presentation,
<br /> ��� ' � etonka Minnesota
<br /> ;
<br /> ,;. ;
<br /> � ��: �_ )
<br /> '�/ ce Pres'id�nt Vice resident
<br /> —" �\
<br /> VALLEY WEST OYBORO COiJi�'I'RYSIDE RIDGEDALE
<br /> 4200 W.Old Shakopee Road 9742 Lvndale Ave.S. i?00 W.Old Shakopee R�ad 1809 PIymouth Road S.
<br /> Bloomington,MN 5a437 (612)8849291 Bloomington,l'Ll�f 55420 (612)881-6519 Bloomington,�1TiV 55438 (612)441-9130 Minnetonka,NTiH 55305 (61'l),`r4b-b0fi0
<br /> Fax(61218844406 Fas(612)881-0902 Fax(612)546-7ll4
<br />
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