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<br />Eastern Heights Bank <br /> <br />McKnight Office <br />670 McKnight Road North <br />St. Paul. MN 55119-4140 <br />6127369925 <br /> <br />I tV "2 7- erg <br /> <br />Eastern Heights Bank <br /> <br />Where the customer comes first <br /> <br />October 27, 1998 <br /> <br />City of Roseville <br />2660 Civic Center Drive <br />Roseville, MN 55113 <br /> <br />We hereby establish our irrevocable Letter of Credit No.3408 for the account of Davelly <br />Hardware Co. dba Suburban True Value Hardware, 1930 Lexington Ave. So., Roseville, MN <br />55113, in the amount of $33,450.00 (Thirty Three Thousand Four Hundred Fifty and no/l00 US <br />Dollars) and authorize you to draw at sight on Eastern Heights Bank, 670 McKnight Road North, <br />St. Paul, Minnesota 55119. <br /> <br />Drafts on us at sight must be accompanied by a beneficiary's signed statement (purportedly signed <br />by an authorized signer of the City of Roseville) as follows: "Davelly Hardware Co. d.b.a. <br />Suburban True Value Hardware has not met the specifications required by the City of Roseville <br />in connection with landscaping improvements". <br /> <br />The amounts of any drafts drawn under this credit are to be endorsed on the reverse side hereof; <br />such drafts must bear the clause "Drawn under Eastern Heights Bank Letter of Credit No. 3408 <br />dated October 27, 1998. <br /> <br />We hereby agree with drawers that drafts as specified above will be duly honored upon <br />presentation to Eastern Heights Bank, 670 McKnight Road North, St. Paul, Mi1U1esota 55119, <br />Attention: Brad Benesh, if presented on or before 3:00 P.M. September 30, 2000. <br /> <br />This credit is subject to the Unifonn Customs and Practice for documentary credits, published by <br />the International Chamber of Commerce or any subsequent revision hereto. <br /> <br />Eastern Heights Bank, <br /> <br />~~[A <br />Brad ~- <br />Business Banker <br /> <br />1 <br />