Laserfiche WebLink
<br />MIDLAND NATIONAL BANK <br /> <br />401 Second Avenue South <br />Minneapolis, Minnesota 55480 <br />612/3727000 <br /> <br />BANCO <br /> <br /> <br />letter of Credit LC-3027 <br />Effective May 14, 1979 <br /> <br />City of New Brighton <br />803 5th Avenue N. W . <br />New Brighton, MN 55112 <br />Attention: City Manager <br /> <br />Dear Mayor and Council: <br /> <br />At the request of our customer, Wolkerstorfer Company, Inc., we hereby <br />authoriz~ you to draw on us, on demand, from time to time, up to an <br />aggregate amount of FIFTY THOUSAND AND NO/lOO DOLLARS ($50,000) <br />by your sight drafts presented on us not later than 2:00 p.m., May 10, 1980, <br />after which time this Letter of Credit will be null and void. <br /> <br />The purpose of this letter of Credit is to asslire completion of the City's <br />requirements for restoration of the Kausel Foundry premises located in New <br />Brighton. All drafts shall be accompanied by your letter certification that <br />default has occurred under the terms of the development contract between <br />the City of New Brighton and Wolkerstorfer Company, Inc., with reference <br />to the restoration of the Kausel Foundry premises located in New Brighton. <br /> <br />This Letter of Credit is irrevocable, and we hereby agree with you that each <br />such draft shall be duly honored by us in accordance with the previous para- <br />graphs upon presentation to us at our bankhouse. This Letter of Credit is <br />subject to the Uniform Customs and Practice for Documentary Credits <br />(1974 Revision) International Chamber of Commerce (Publication No. 290) <br />and to the Uniform Commercial Code. <br /> <br />Sincerely, <br />MIDLAND NATIONAL BANK OF MINNEAPOLIS <br /> <br />~ <br />- '~/ <br />BY: , . ~ <br />Steven P. Johnson, <br /> <br /> <br />CONSENT <br /> <br />- .- - - - <br />The undersigned corporation hereby agrees to the conditions of the foregoing <br />Letter of Credit and hereby joins in the provisions thereof. ' <br /> <br />WOLKERSTORFER COMPANY, INC. <br /> <br />: /1 ~ Ir <br />BY.. '/ll:~ i/ U " j/I/.- - 1 ~ .'_,l <br />( . I fr ~'o. ;:/ 7 i <br /> <br />Dated: -5' -I ~ 7f <br /> <br />, <br /> <br />,j <br /> <br />,1'._ " /, ;' 7/)f- ~ <br />BY. /, //',__([.<,--".-~- -""-j <br />. <'-~-:'-_" _ v,.,', /" /, ,/ <br /> <br />Ii <br /> <br />M,diand National Bank of Minneapolis <br /> <br />/ <br />( <br />