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<br />- <br /> <br />"lIPfl'atl... ~ <br />IIortlIern c:allfoml. <br />ana From: 1t1'Mt. 2'" floor <br />_ F.....'_. CA """ <br /> <br />~ <br />WIlLL9 J'ABOO BAD <br /> <br />PAGE. 1 <br /> <br />DATE: APRIL 28. 2006 <br /> <br />AMENIImNT TO CREDIT NO. <br />NZS569543 <br />AMENIImNT NUMBER: 1 <br />APPLICANT: <br />GROUND DBVBLOPMBNT INC. <br />7575 GOLDEN VALLEY ROAD SUITE 250 <br />GOLDEN w.LLBY. MN 55427 <br /> <br />BENEFICIARY: <br />CITY OF CENTERVILLE <br />1880 MAIN STREET <br />CBNTERVILLB. MN 55038-9794 <br /> <br />THIS AMBNDMBNT IS TO BE CONSIDBRBD AS PART OF THE ABOVE CREDIT AND MUST BE <br />ATTACHED THERETO. <br />THE ABOVE MENTIONED CREDIT IS AMENDED AS li'OLLOWS, <br />THE li'OLLOWING DOCUMENT HAS BEEN ADDED: <br />BENEFICIARY'S SIGNED AND DATED STATEMENT NOW TO BE WORDED AS FOLLOWS: <br />"THE UNDERSIGNED. AN AUTHORIZED REPRESENTATIVE OF THE CITY OF CENTERVILLB, <br />HEREBY CERTIFIES THAT: (1) THE CITY HAS GIVSN GROUND DEVELOPMENT, INC. WRITTEN <br />NOTICE AS REQUIRED IN THE DEVELOPMENT/SUBDIVISION AGREEMENT THAT IT MUST TAKE <br />SPECIFIED ACTION OR FACE A DRAW ON THIS :t.BT':l.'ER OF CREDIT. (2) THAT GROUND <br />DEVELOPMENT. INC. HAS FAILED TO TAKE THE SPECIFIED ACTION. AND (3) THAT THE <br />AMOUNT OF THE ACCOMPANYING DRAFT DRAWN UNDER WBLLS FARGO BANK. N.A. Llsu= OF <br />CREDIT NO. NZS569543 REPRESENTS THE AMOUNT DUB AND PAYABLE IN ACCORDANCE WITH <br />THAT CERTAIN DEVELOPMENT ~CT DATED MARCH 31, 2006. SIGNED BETWEEN THE CITY <br />OF CENTERVILLB (THE "CITY"l AND GROUND DBVELOP!olENT, INC. (THE "DEVELOPER"l. <br />BECAUSE OF FAILURE OF THE DEVELOPER TO PERFORM PURSUANT TO THE SAID DEVELOPMENT <br />CONTRACT. · <br />THE FOLLOWING ADDITIONAL CONDITION HAS BEEN ADDED: <br />DRAWINGS MAY ALSO BE PRESENTED AT OUR OFFICIi LOCATED AT ROANOKE BUILDING, 5TH <br />FLOOR. 109 S. 7TH STREET. MINNEAPOLIS. MINNESOTA 55479 ("WELLS MINNE~.l . <br />DRAWINGS PRESENTED TO WELLS MINNESOTA WILL BE CONSIDERED AS BEING PRESENTED AT <br />OUR ABOVE OFFICE. <br />ALL OTHER TERMS UNCHANGED. <br /> <br />DrI,I,.1 <br />