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<br />SA3.cJu <br /> <br /> <br />North Star Bank <br /> <br />March 23, 2000 <br /> <br />City of Roseville <br />Attn: Mr. Dan Munson <br />2660 Civic Center Dr. <br />Roseville, MN 55113 <br /> <br />RE: L.J. Olson Heritage, LLC <br /> <br />Dear Mr. Munson, <br /> <br />We hereby establish our Irrevocable Lettcr of Credit No. 420 in the amount of Eight thousand <br />and noli 00 dollars ($8,000.00) at authorize you to draw at sight on North Star Bank, <br /> <br />For the account of: LJ. Olson Heritage, LLC <br />1944 No. Lexington Ave. <br />Roseville, MN 55113 <br /> <br />Drafts on use at sight must be accompanied by the following: <br /> <br />A signed statement (signature guaranteed by a financial institution) of the beneficiary as <br />follows: "The undersigned hereby certifies that I am duly authorized to execute this <br />document on behalf of the City of Roseville and the amount of the draft accompanying <br />this certification is due and owing to the City of Roseville by virtue of default by L.J. <br />Olson Heritage, LLC in the satisfactory and timely installation of exterior site <br />improvements including landscaping by the City of Roseville. The amount drawn will be <br />used by the City of Rosevil1e to cure the default." <br /> <br />The original Letter of Credit. <br /> <br />The amounts of any drafts drawn under this Letter of Credit are to endorsed on the reverse side <br />hereof. Such drafts must bear the clause, "Drawn under North Star Bank Letter of Credit No. <br />420 dated March 23, 2000." <br /> <br />1820 North Lexington Avenue. Roseville, Minnesota 55113 . 612/489-8811 . Fax: 489-9541 <br />4661 Highway 61 . White Bear Lake. Minnesota 55110 . 612/429-4531 . Fax: 653-9430 <br />