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<br /> <br />FIRST STATE BANK <br />of NEW BRIGHTON <br /> <br />L,~' 9a <br /> <br />2299 PALMER DRIVE <br />NEW BRIGHTON, MINN. 55112 <br />PHONE: 612/636-4300 <br /> <br />November 30, 1979 <br /> <br />Mr. Vernon Pederson <br />Ci ty of New B ri gh ton <br />803 - 5th Avenue NW <br />New Brighton, MN 55112 <br /> <br />IRREVOCABLE LETTER OF CREDIT NO. 1062 <br /> <br />Gentlemen: <br /> <br />We hereby establish our Irrevocable Letter of Credit NO. 1062 <br />in your favor for the account of David and Sandra L. Strafelda <br />up to the aggregate amount of FIVE THOUSAND DOLLARS AND NOllOO-- <br />---DOLLARS ($5,000.00) available by your draft at sight. <br /> <br />All drafts drawn must be marked lIDRAWN UNDER LETTER OF CREDIT <br />NO.1062 DATED NOVEMBER 30, 1979.1I Drafts must be presented at <br />our office at the First State Bank of New Brighton, 2299 Palmer <br />Drive, New Brighton, MN 55112 no later than 2 P.M., St. Paul, <br />Minnesota time on November 30, 1980, after this date this Letter <br />of Credit will be null and void. <br /> <br />We hereby establish with drawer, endorser, and bonafide holders <br />of drafts under and in compliance with the terms of this Letter <br />of Credit that such drafts will be duly honored on due presentation. <br /> <br />To the extent not inconsistent with the express terms hereof, this <br />credit is subject to the Uniform Customs and Practice for Documentary <br />Credits as issued by the International Chamber of Commerce, 1974 <br />Revision info,rce as from October 1, 1975. <br /> <br />Yours truly, <br /> <br />A) ~t;J/ I <br />t{XLtC01P Ij/Ajr{hu~ <br />Duane W. Sorensen <br />Pres i dent <br /> <br />DWS / gp <br /> <br />. ME-!v1BER FEDERAL DEPOSIT INSURANCE CORPORATION <br />