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DEC 16 '97 04:39PM AMERICAN AGENCY P.1 <br />American Agency, Inc. <br />5851 Cedar lake Road <br />P.O. Box 16527 <br />Minneapolis, MN 55416.0527 <br />(612) 545 -1230 • Fax (612) 593.8733 <br />December 16, 1997 <br />Joel Hanson <br />City of Little Canada <br />515 Little Canada Road <br />Little Canada, MN 55117 <br />Re: Insurance Package Renewal Quotation <br />Dear Joel: <br />Enclosed is the Renewal Premium Summary with two options. The liability limits <br />are increased to $750,000 per occurrence and you have a choice to either <br />'waive' or 'not waive: the statutory tort limit of $300,000 per claimant. If you <br />"waive" the statutory tort limit there will be up to $750,000 per claimant with an <br />additional charge of 3.5% to the liability rates. Since there was a 3% decrease <br />in the liability rates this would produce only a .5% increase over the expiring <br />rate. <br />Please return the signed LMCIT Liability Coverage - Waiver Form, that we have <br />already faxed to you, and indicate your choice. Please give this your immediate <br />attention. <br />Also, The Open Meeting Law Coverage will be issued as per expiring with 80% <br />payable. If you wish to increase the payable to 100 %, the annual' cost would <br />be $538. Please let us know if you are interested in increasing the payable. <br />Joel, if you have any questions, please do not hesitate to give us a call. <br />Sincerely, <br />Dick Scheidroup <br />DS /dj <br />Page 1 <br />