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<br />" <br /> <br />~&'J..tl <br /> <br /> <br />June 2, 1995 <br /> <br />Linda Anderson <br />Construction Mortgage Investors Company <br />\ <br />300 Morse Avenue, Box 40 <br />Excelsior, I-dN 55331 <br /> <br />RE: <br /> <br />Dear Linda: <br /> <br />This is to inform you that a reduction has been requested by Good Value Homes for Letter of <br />Credit No. 28484~A. The original Letter of Credit was in the amount of$423,909.11 held as a <br />financial surety for the installation of the streets and utilities for the Grandview Townhome <br />project in Roseville. ' <br /> <br />Staff has reviewed the work that has been completed on the Grandview Townhome project and <br />feels it appropriate to reduce the Letter of Credit !Tom its original amount to $250,000. We ask <br />that this Letter of Credit be kept active for one year from the date of reduction or until final <br />approval by the City of RoseviUe. <br /> <br />Please inform us if you would like the original Letter of Credit returned. If you have any <br />questions or concerns regarding this matter, please contact me at 490~2221. <br /> <br />Sincerely, <br /> <br />;;4/c:2- <br /> <br />Lon P. Aune <br />Assistant Public Works Director <br /> <br />LP A:cy <br /> <br />2660 CIVIC CENTER DRIVE · ROSEVILLE · MINNESOTA· 55113-1899 <br />612-490-2200 · TDD 612~490-220S <br />