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<br /> <br />tervi[[e <br />'E5ta6{islid 1857 <br /> <br />June 16, 2003 <br /> <br />Mr. Dale Runkle <br />Ground Development, Inc. <br />7575 Golden Valley Road <br />Golden Valley, MN 55427 <br /> <br />RE: Irrevocable Letter of Credit No.: <br /> <br />Dear Mr. Runkle: <br /> <br />1880 Main Street . CentervifCe, ~ 55038 <br />(651) 429-3232 .:Fa:( (651) 429-8629 <br /> <br />NZS437141 <br /> <br />This letter is being sent to notify you that your Irrevocable Letter of Credit, <br />NZS437141 for Pheasant Marsh Phase I is set to expire on July 30, 2003. As stated in <br />the executed Developers Agreement for Pheasant Marsh, Phase I, page 5, at Section B, <br />PRN ATE IMPROVEMENTS, No. 2(e), Faithful Performance of Construction <br />Contracts and Letter of Credits, Ground Development is required to renew or replace <br />the Irrevocable Letter of Credit no later than twenty (20) days prior to its expiration <br />with a like letter.- <br /> <br />Please contact the City's Engineer, Tom Peterson, to determine whether you should <br />renew or replace this Irrevocable Letter of Credit. "If you have any other questions or <br />comments, please feel free to call Ellen Paulseth, Finance Director, or me at City Hall, <br />651-429-3232. <br /> <br />Sincerely, <br />......"._..__...._~. ,. //. )"...." ... . /J /) <br />/ :>- . J'2 '/1'/' <br />~~t~~ /~"'~ <br /> <br />City Administrator \ <br />