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////`\ <br />Meridian <br />Land <br />November 15, 2016 <br />Mr. Steve Duff <br />Senior Engineering Technician City of Hugo <br />14669 Fitzgerald Avenue N. <br />Hugo, MN 55038 <br />RE: Fox Meadows — 1st and 2nd Addition <br />Letter of Credit Reduction <br />Dear Steve: <br />Fox Meadows 1St and 2nd Addition are now complete per the approved plans and <br />specifications for each subdivision. This fetter will serve as our request for the City to <br />accept each addition and begin Meridian's warranty period. In addition, Fox Meadows <br />2nd Addition Letter of Credit amount should be reduced to 10% of the original value <br />($43,91.20). <br />Thank you for your cooperation and all the assistance you have been in completing <br />these communities. <br />SLic re1Y,, <br />Rick Murray <br />Senior Vice President <br />RM/wa <br />VIRGINIA OFFICE 3811 Westerre Pkwy., Suite G, Henrico, VA 23233 804-261-6868 <br />MINNESOTA OFFICE 3600 American Blvd. W., Suite 750, Minneapolis, MN 55431 952-898-1110 <br />meridianlandcompany.com <br />Meridian Land Company is a subsidiary of United Properties <br />