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First State Bank of Saint Paul <br />1000 Payne Avenue <br />St. Paul, Minnesota 55101 <br />612778 -2600 <br />April 10, 1981 <br />City of Little Canada <br />515 E. Little Canada Road <br />St. Paul MN 55117 <br />Re: Irrevocable Letter of Credit #80 -41 <br />Gentlemen: <br />We hereby establish this irrevocable Letter of Credit <br />in your favor for the account of E. T. Hughes Construc- <br />tion in the amount of Five Thousand Six Hundred and Ten <br />Dollars ($5,610.00) available to you after the date <br />hereof by your draft or drafts on the undersigned bank. <br />Drafts should be presented after a 10 -day notification <br />of default on the contract for landscaping. <br />All drafts must be endorsed and must bear the clause <br />"Drawn under First State Bank of St. Paul, Letter of <br />Credit 480 -41 dated 4- 10 -81." <br />Drafts must be negotiated not later than 4- 10 -82. <br />We hereby agree with the drawers, endorsers and bona fide <br />holders of drafts drawn under and in compliance with terms <br />of this Letter of Credit that drafts will be duly borrowed <br />upon presentation to us. <br />FIRST STATE BANK OF SAINT PAUL <br />Debra E. Bisek <br />Commercial Loan Officer <br />kjw <br />PgrESEZZ: <br />APR 13 1981 <br />CITY OF <br />2 ' "1 LITTLE CANADA <br />