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<br /> <br />First Bank <br />Northtown <br /> <br />First Northtown National Bank <br />231 Highway 10 N.E. <br />Blaine, Minnesota 55434 <br />612766-9660 <br /> <br />June 29, 1981 <br /> <br />City of New Brighton <br />New Brighton, MN 55112 <br />Attn: Joan Archer <br /> <br />Gentlemen: <br /> <br />RE: Letter of Credit <br /> <br />We establish our irrevocable letter of credit dated June 29, 1981 <br />in your favor for the account of Realty One, Inc. up to the agreed <br />sum of Six Thousand and no/IOO U.S. Dollars ($6,000.00) available <br />, by your draft at sight drawn on us and accompanied by the follow- <br />ing documents: <br />1. Your si~ed certificate stating that Realty One, Inc. has <br />failed to complete the final site and landscape work on the <br />Micom Building located at 475 - 8th Ave. N.W., New Brighton, <br />Minnesota. Failure is constituted by the failure to complete <br />one or more of the following: drainage system, final grading, <br />blacktopping or final landscaping. <br />2. Unpaid invoices or firm bids for the completion of work <br />described in the previous section. <br /> <br />The draft must be negotiated no later than April 26, 1982. <br /> <br />Sincerely yours, <br /> <br />~!!~r~ <br /> <br />Asst. Vice President <br /> <br />CMN/ rw <br /> <br />\~.- ;:-::~s_: ::",:< <br />