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<br />~- <br /> <br />Co:nunercial <br /> <br /> <br />te Bank <br /> <br />FIfTH AT ST. PETER / ST. PAUL, MINNESOTA 55102 / 291.6800 <br /> <br />IRREVOCABLE COMMERCIAL LETTER OF CREDIT <br /> <br />City of iTew Brighton <br />803 Fifth Avenue NW <br />New Brighton, MN 55112 <br />ATTN: Mr. Ernie Mattila <br /> <br />L.C. No. <br />Date <br />$ <br /> <br />#1l4Rl-A <br />Spptpmhpr 26, 1988 <br />H3, 900.00 <br /> <br />Gentlemen: <br /> <br />We hereby authorize you to draw on r.()mmprr; ;::11 St:Rt:P BRnk in St. Paul <br /> <br />up to but not exceeding the aggregate amount of Eighteen thousand. nine-hundred dollars and <br />no /1 on ($1 R ) qnn no) ----------------,--------------------------------------------------- <br />for account of Tri p 1 P S TnvPRtmpnts <br /> <br />Available by your draft at our <br /> <br />sight when accompanied by: <br /> <br />1. The return of Letter of Credit #11481. <br /> <br />2. A certified statement by an authorized city official indicating that Triple S <br />Investments is in default with the landscaping, blacktopping, or curb <br />specifications included in their site plan for the West 174 feet of the East <br />495 feet of the South 300 feet of the Southeast quarter of the Northwest <br />quarter of Section 18, Township 30, Range 23, Ramsey County, Minnesota; <br />except the South 33 feet thereof. <br /> <br />3. This Letter of Credit is a replacement of, and not in addition to, Letter of <br />Credit #11481. <br />Drafts under this credit must bear upon their face the words: <br />DRAWN UNDER COMMERCIAL STATE BANK IN ST. PAUL, MINNESOTA <br />LETTER OF CREDIT NO. 11481 DATED September 26, 1988 <br />The negotiating bank to endorse amount of drawing(s) on the reverse hereof. <br /> <br />We hereby agree with drawers, endorsers and bona fide holders of drafts negotiated under and in com- <br />pliance with the terms of this credit that the same will be duly honored upon presentation to Drawee if <br />drawn and negotiated on or before September 26. 1989 . <br /> <br />This credit is subject to the uniform customs and practice for documentary credits (1983 Revision), <br />International Chamber of Commerce Brochure No. 400. <br /> <br />Yours very truly, <br /> <br />s~75 <br /> <br />COMMERCIAL STATE BANK IN ST. PAUL <br /> <br />By~71 ~~ <br /> <br />Authorized Signature <br />