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<br />()'IY.r1q <br /> <br /> <br />North Star Bank <br /> <br />December 14, 1999 <br /> <br />City of Roseville <br />Attn: Mr. Don Munson <br />2660 Civic Center Dr. <br />Roseville, MN 55113 <br /> <br />RE: John & Lois Olson <br /> <br />Dear Mr. Munson, <br /> <br />Regarding the proposed construction project for the above noted, located at 1944 <br />Lexington Ave., please be advised that North Star Bank commits to issue a letter of credit <br />to the City, upon the closing of a credit, at 150% of the total cost for exterior landscaping. <br />I understand that your issue of a building permit is contingent upon our letter of credit. <br /> <br />A letter of credit will be issued for a six month period and will include a provision for a <br />second six month period, unless the City has determined that the exterior landscaping has <br />been substantially completed per the accepted plans. <br /> <br />While we have not recently issued any commitments to the City for a letter of credit, we <br />have recently issued two commitments, followed by a letter of credit, for the City of <br />White Bear Lake. If you wish, I encourage you to contact Shaun Finwall at the City of <br />White Bear Lake at 429-8518 for a reference. <br /> <br />If you have any questions regarding a commitment to Issue a letter of credit, please <br />contact me. <br /> <br />S~inCerelY' , <br /> <br />~~, ~. <br />J ey A. Neisen <br />Vice- President <br /> <br />Cc: John & Lois Olson <br /> <br />.; <br /> <br />1820 North Lexington Avenue · Roseville, Minnesota 55113 · 651/489-8811 · Fax: 489-9541 <br />4661 Highway 61 · White Bear Lake, Minnesota 55110 · 651/429-4531 · Fax: 653-9430 <br />