_Santa Vera Site Plan Agreement to be recordedCITY OF CI]ANHASSEN
SITE PLAN AGREEMENT #2025.0'I
SANTA VERA PHASE II
SPECIAL PROVISIONS
SITE PLAN AGREEMENT ("Agreement") dated Jul1, 13,2026, by and between the CITY OF
CHANHASSEN. a Minnesola municipal corporation. (he "Cit",""). and Santa Vera Apartments,
LLC, a Minnesota limited liabiliq company, (rhe "Developer").
l. Request for Site Plan Approval. The Developer has asked the Cit) to approve a site plan
for tuo multifarnily apadrnenl buildings, one rvith l2-units and the other il,ith l6-units and associated
sile improvements to be localed on land in Caner Countl, Minnesota legalll'described in Exhibit B
("Subject I'roperty"), which buildings include the follo$,ing: multifamily residential (rel'erred to in
this Agreement xs the "projeet" ).
2. Conditions of Site Plan Approval. The Citl,herebl approves the project on condition thal
thc Developer enters into this Agreement and fumish the security required by it.
-1. Improvements and Development Plans. The project shall be developed and maintained in
accordancc uith the lollorving plans. The plans shall not be atlached to this Agree.menl. ll'the plans
vary from the r\ ritten terms ofthis Agreemenl. thc \\'ritten terms shall control. The plans are:
ct.0
c2.t
c3.0
c4.0
c5.0
c5. t
c6.0
c6. t
c7.0
c7.l
c8.0
C8.I
c8.2
TI'TLE SHEET
DEMOI,ITION PLAN
SITE PLAN
GRADINC PLAN
UTILITY PLAN
STORM SEWER PLAN
PHASE I EROSION CONTROL
PIIASE 2 EROSION CONTROL
SWPPP NARRATIVE
SWPPP NARRATIVE & NOTES
CIVIL DETAII,S _ TITILITY DEI'AILS
CIVIL DETAILS _ STORM SEWER DETAILS
CIVIL DETAILS _ STORM SEWER DETAIt,S
2291i7()v1
C8.3 CIVII, DETAILS _ SITE DETAILS
C8.4 CIVIL DETAILS _ ADA DETAIT-S
C8.5 CIVII. DETAILS - ADA DETAILS _ CONTINUED
LO.I TREEPRESERVATION PLAN_TREEINVENTORY
LO.z TREE PRESERVATION PLAN
LI.O LANDSCAPE PLAN
L2.O LANDSCAPE DETAILS
ARCHITECTURAL PLANS DRAFTED BY KAAS WILSON ARCHITECTS ON 7/IO/25
'1. Time of Performance. The Developer shall install all required Improvements including
screening and landscaping as shown in the Developmenl Plans by December 3 1,2027 .'fhe Devcloper
ma\'. hou,ever, request an extension of time lrom the Ciit1. If an extension is granted. it shall be
conditioned upon updating the securiq' posted bl the Developer to reflect cost increases and the
extended completion date.
5. Security. 'l'o guarantee compliance with the terms of this Agreement and all of the Plans"
pa1'ment ofall the costs ofall public improvements and construction ofall public improvements, the
Developer shall fumish the Citl,whh a lefter olcredit in the form attached hereto, from a bank
acceptable to the Cit1, cash escrow, or equivalent ("securit1") for $1.005,730 (erosion control.
grading, landscaping. storm$ater. public impror,ements, etc.). The securi$ shall be ll0 percent of
the lollowing:
Grading/ Erosion Control/ Landscaping $
Street impact $
Sanitary Se*'er SWatermain $
Slorm Sewer $
235.900.00
30,000.00
28,400.00
I 0l ,800.00
5 18.200.00
Sub-l-otal $ 9 t4.300.00
I10,'t s t.005.730.00
1'he City may drarv dorvn the securitl. on five (5) business days u,ritlen notice to the Developer.
for an1' r'iolalion of the terms ofthis Clontract or u ithout notice iflhe securin, is allou,ed to lapse prior
to the end olthe required term. If the required public improvements are not compleled aI least thin)
(30) days prkrr to the expiration ofthe security, thc. City nray also drau,it down withoul notice. Ifthe
securitv is drau'n doun, the proceeds shall be used to cure the default. t_lpon receipt of proof
satisiactory to the City that vvork has been compleled and financial obligations to the Clity have been
satisfied. u'ith Citl'approval the securitt mav be reduced from lime to time b) ninetl percent (907o)
of the financial obligations that have been satisfied. Ten percent ( l0%) of the amounrs cenifjed b\
the Dcveloper's engineer shall be retained as securitr until all improvements have been complete. all
financial obligations to the Cih satisfied. the required "as construcled" plans hat,e been received br
the City, a warranty securitv is provided. and rhe public improvements are accepted by rhe Cit1,
Clouncil.
l
229879r I
lfthe Developer requesls a Certificate of L)ccupano prior to the installation ol'site landscaping.
then the Developer shall provide to the cit) an updated letter of credit or cash escrou, in an amount
sulficienl lo insure the installalion of said landscaping.
PROCEDTIRES FOR
LETTtrR OF CREDIT REDI]CTION
Requests lor reductions of Letters of Credit must be submitted to the Cit), in u riting b1. the
Developer or Developer's Engineer.
b. Partial lien u'aivers totaling the amounl ofthe requesled reduction shall accompanv each
such request.
An1' reduction shall be subject to City,approval
il
6. Notices. Required notices to the Developer shall be in u,riting. and shall be either hand
delivered to the Developer. its emplolees or agents. or mailed to the Developer bl.certified mail at
the following address:
Santa Vera Apartments, LLC
c/o Ridgeline Partners
10650 Red Circle Drive
Suite 200
Minnetonka. MN 55343
Notices Io the Cilr shall be in u riting and shall be either hand delivered to the Citl Manager or mailed
to the CiI)'by certified mail in care of the Citv Manager at the following address: Chanhassen City
Hall, 7700 Market Boulevard. P.O. Box I47, Chanhassen. Minnesora 55317. T'elephone (952\ 277-
I 100.
7. Other Special Conditions, Citl Council herebl approves a site plan for a developmenl. of
trvo multilamill apartmenl buildings, one with l2-units and the other u,ith l6-units and associated
improvements subject to lhe conditions provided in this Agreement and all conditions listed in the
citr staff report forsite plan approval u'ritten b1 Rachel Jeskeetal. approved on August 25.2025.
8. General Conditions, The general conditions of this Agreemenl are aflached as Exhibit "A"
and incorporated herein.
9. Counterparts, This Agreement mav be' executed in anl number ol counterparls. each of
rr hich shall crrnstitute ()ne and the same inslrument.
c
-)
229879!3
S'l Al lr Otr MINNFISO'lA
('OL,T.l'l YOFCARVER
(iruncil.
(.I I \' OI] ('I]ANIIASSt:N
[]lisc Rr an. l\4ar or
AND:V0IA/V'1L|+*''PaA.(,4^
Laurie Hokklnen. ( iq Nlanager
N Y I)I IBI ,I('
BY:
ss
)
(
)
'I'he lbregoing instrument rras acknou ledged belbre me ttris l5 da1' ,f .fuq .202(r. br,
lilise R1an. Mr1i,r. and h1 Laurie Hokkanen. Citl: Manager. olthe t\,t"Chanl',rrr"n--., Minn..u*
rnunicipal corporalion, on behalf ofthe corporation and pursuant to the authoritl, granted bv its Cit)
I
t
JENNIFER ANN POTTER
NotarY Public'Minnesota
Commi6slon ExPirG Jrn 31, 2027
.1
22q879v1
DEVELOPER:
Santa Vera
BY:
Its: t(\fYI rrroa? r,z
, LLC
o
STATE OF MINNESOTA
couNry oF Heny€$h
DRAFTF,D BY:
City o f Chanhassen
7700 Market Boulevard
P. O. Box 147
Chanhass€n- MN 553 l7
1952\ 221 -t t0o
W
SS
)
(
)
The foregoing instrument was acknowledged belore me this l! day of 5ul,u
2026 by QriOn\\Oadpnrhe mOJmqCV of Sanra Vera Apanmenrs. IJLC. a
Minnesota limited liability company. on behalf ofihe e "rtY.r4ry'lO,%. -.*
5
@
MOLLY ROBERTS
|Uary Pub[c
Mlnncota
lty ffilat E$h.01B1AIA
229879\3
FEE OWNER CONSENT
TO
SITE PLAN AGREEMENT
Santa Vera Apartments, LLC, a Minnesota limited liability company, fee owner of all or
part of the subject property, the development of which is governed by the foregoing Site Plan
Agreement. affirms and consents to the provisions thereof and agrees to be bound by the provisions
as the same may apply to that portion ofthe subject property owned by it.
Dated this q+i day of ir.^l,tr .2026)
Santa Ve rt ts, LLC
Bv:
Iprint name]
Its: tY\AnAq(,,/Ititlel
u
STATE OF M\nneeorho )
)ss.
coLNrY oe$e.nnCSn )
The foregoing instrument was acknowledged before me thi s {*r.. aay of Jr"(r.r
2026. by hrion \)\cbolSorr-.the $Aqrl4oerz
Santa Vera Apartments, LLC, a Minnesota limited liabili
Jof
w4^/zNotmT@frc
DRAFTED BY:
CAMPBELL KNUTSoN
Profes s io n a I A s s o cial io n
Grand Oak Office Center I
860 Blue Centian Road. Suite 290
Eagan, Minnesota 55 I 2l
65 t-452-5000
MOLLY ROBERIS
Notary pubtic
Minnosota
lfy Commiltih E4ir!3 01/3180A
229879v1
6
CITY OI-- C]HANI IASSEN
SITE PI-AN AGREEMENI'
EXHIBIT "A"
OENERAL CONDI]'ION
1 . Right to Proceed. Within the Subject Propertl,, the Developer mav not grade or otheru,ise disturb
the ea(h, remove trees, construct improvements- construct public or private ulilities. or an) buildings
until all the folloxing conditions have been satisfied: l) this Agreement has been full1, executed b1
both parties, Iiled with the City Cilerk and recorded with the Counry* Recorder's Ollice or Registrar of
Title's Olllce of the County of thc Subject l,roperty, 2) the necessary securitv and fees have been
receiled bl the Citl'. 3) the necessan' insurance for the Det,eloper and its contractors has been
received b1 the CiN', 4) a preconstruction meeling has been held by the Developer and the Developer's
Engineer, and 5) the City has issued a grading (or similar) or building permit provirled the tbregoing
cond iti,rns having been satisfied.
2. Maintenance ofSite, The Subject Propertl shall be maintained in accordance with the approved
site plan. Plants and ground cover required as a condilion of site plan approval which die shall be
promptl), replaced.
3. License. The Developer herebl,grants the Cit), its agents, employees, ofTiceru and contractors a
license to enler the site to perfbrm all work and inspections deemed appropriate b1, the City' in
conjunclion rvith site plan development.
4. Public Improvements. The public improvements shall be installed in accordance with City
Standard Specifications and Detail Plates and Cily Ordinance. The Developer shall submit plans and
specifications rT'hich have been prepared bv a compelent registered professional engineer to the Citl'
for approval b1' the ('itl Engineer. The Der eloper shall instruct its engineer to provide adequate field
inspection personnel to assure an acceplable level olqualitl control to the exlent that the Developer's
engineer will be able to certify that the construction rvork meets the approved City standards as a
condition ofCitl'acceptance. The Developer shall obtain all necessary permils from the Metropolitan
Council Environmental Sen'ices and other peninent agencies before proceeding rvith construction. In
addition, the Cit)'may, at the Citl-'s discretion and at the Developer's expense, have one or more City
inspectors and a soil engineer inspect the work on a full or part-time basis. The Developer's engineer
shall provide for on-site project management. The Developer's engineer is responsible fbr design
changes and contract administration bet\\'een the Developer and the Developer's contractor. The
Developer or its engineer shall schedule a pre-construction meeting at a mutually agreeable lime at
the Cily with all parties concerned. including the City stall, to revieu'Ihe program lbr the construction
urrrk. Within thirt) (30) da1's alter the complelion of the improvements and belore the securil) is
rcleased. the Developer shall suppll the Clit) \\'ith a complete set of reproducible "as constructed"
plans and an electronic file olthe "as constructed" plans prepared in accordance with City standards.
Af'ter completion ofthe improvements, a representative ofthe conlractor, and a representative ofthe
Developer's engineer s,ill make a final inspeclion oflhe uork u,ith the Ciitl Engineer. Before the Citl
accepts lhe improvements. the Citl Engineer shallbe satisfied that all uork is satislactorill completed
in accordance u'ith lhe approved plans and specifications and the Developer and his enginecr shall
submit a \\,ritten statement to the City Engineer cerlil),ing that the projecl has been complcled in
accordance \\'ith the approved plans and specifications. 1'he appropriate contractor u,aivers shall also
be pror ided. Final acceptance olthe public improtements shall be b1 ('irr Council resolulion.
229879v 1
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5. Erosion Control. Before the site is rough graded, and before anv building pennits are issued, the
erosion control plan, Plan B. shall be implemenled, inspected. and approved b1,the Cit1..'l'he Citl
mav impose additional erosion conlrol requirements if thel'uould be beneficial. All areas disturbed
b1'thc excavatiotr and backfilling operations shall be reseeded forthwirh after the completion ofthe
lvork in that area. Except as othenl ise provided in the erosion control plan. seed shall be certilled
seed lo provide a lemporan ground ctxer as rapidll as possible. AII seeded areas shall be fertilized.
mulched, and disc anchored as necessary for seecl retention, The pa(ies recognize that time is ofthe
essence in controlling erosion. Ii the L)eveloper does not complv with the erosion control plan and
schedule or supplementan instructions received lrom the Cit\'. the Citl ma1 take such action as it
deems appropriate to control erosion at the Developer's expense. The Ciitl will endeavor to notifl, the
Developer in advance ofany proposed action, but failure of the city to do so will not allbct the
Developer's and ('itr's rights or obligations hereunder. No developnrent rvill be allorved and no
building permits u ill be issued unless lhere is full compliance u ith the erosion control requirements.
Erosion control shall be maintained until vegetative cover has been restored. Afler the site has been
stabilized to rvherc, in the opinion ofthe Citl'. there is no longer a need lor erosion control. the Citl
x'ill authorize remor,al ofthe erosion control measures.
6. Clean up. The Developer shall maintain a neat and orderly rvork site and shall daily clean, on
and off site. dirl and debris, including blou'ables. from slreels and the surrounding area that has
resulted lrom construction rrork by the Deleloper. its agents or assigns.
7. Warrant-v. Alltrees, grass, and sod required in the apprttved Landscaping Plan, Plan C, shallbe
u'arranted to be alive. ofgood qualitl. and disease lree al the lime of planting. All trees shall be
narranted for tu'elve ( l2) months from the time ofplanting. The Devekrper or his contractor(s) shall
post a lelter ofcredit or cash escrorv to the Citl to secure the warranlies at the time ol final acceptance.
8. Responsibilig for Costs.
A. The Developer shall hold the City and its officers and emplolees harmless from claims made
bv itself and third parlies for damages sustained or costs incurred resulting liom site plan
approval and development. The Developer shall indemnif] the Citl and its officers and
emplol ees lor all costs, damages, or expenses u hich the C it1 ma1 pa1' or incur in consequence
ofsuch claims, includ ing attonreys'fees.
B. 'fhe Developer shall reimburse the UiI)' fbr costs incurred in the enlbrcemenl of this
Agreement. including engineering and attornevs' fees.
C. The Developer shall pay in full all bills submitted to it b1,the Cit"v for obligations incurred
under this Agreement within fortl,-five (45) days after receipt. lf the bills are not paid on time,
the Citl'mal halt alldet,elopmenl rlork and construclion. Bills not paid within fort\'-live (45)
dal s shall accrue interest at lhe rate of 8% per )'ear.
D. 1'he Developer shall pa1 all costs incuned by it or the Clity in conjunction rvith the
129879v.1
l
A. Wanantr. The Developer warranls all public improvemenls required to be constructed by it
pursuant to this Contract against poor material and I'aultl u,orkmanship. The Developer shall
submit either l) a s'arran6'/maintenance bond for 1007o of the cost of the improvement. or 2.)
a letter of credit for trlentr,-five percent (25%) ot'the amount of the original cost olthe
improvements. 'l'he required warranty period for materials and workmanship for the utilit\.
contraclor installing public se\\'er and u,atcr mains shall be tu o (2) l ears lrom the date of final
u'ritten City acceptance ofthe u,ork.
development of'the site and installatiorr of public improvements, including but not limited to
legal. planning. engineering and inspeclion expenses incurred in connection u ith approval of
the site plan, the preparation of this Agreement, revie\\,ofanr other plans and documents.
bl. In addition to the oharges and special assessments referred to herein, olher charges and special
assessments ma)'be imposed such as. hut nol linrited to, seu,er availability charges ("SAC',).
Citr uater connection charges, Citl sener connection charges. and building permit fees.
9. Developer's Default. In the evenl o{'dcfault bl the Developer as to anv of'the $,ork to be
perfonned bl it hereunder, the cit'\ ma). at its option. perform the u,ork and the Developer shall
promptly reimburse the Citl for an\ expense incuned b1,the Ciit1, provided $e Developer is first
given u'ritten notice of the u'ork in default. not less than lbur (4) days in advance. This Agreement is
a licc'nse for the citl' to act. and it shall not be necessan for the citl to seek a court order for
permission to enter the land. When the Citr does anl such r\'ork. the Citl ma1. in addition to its other
remedies, assess the cost in rvhole or in part.
10. ill iscellancous
A. Construction l'railcrs. Placementof'on-si te construction trailers and temporary job site olfices
shall be approved by the Ciq,Engineer. Trailers shall be removed liom the subject propertr,
u'ithin thirn (30) da1's follosing the issuance ofa certificate ofoccupanq unless otheru,ise
approved bl the City Engineer.
B. Postal Service. 'I'he Developer shall provide lor the maintenance of postal service in
accordance rl,ith the local Postmaster's request.
Cl. Third Parties. Third parties shall have no recourse against the Cir1, under this Agreement.
D. Breach ofContract. Breach of the terms ofthis Agreement by the Developer shall be grounds
for denial of building permits.
E. Severabilit). llanl portion. section, subsection. sentence, clause. paragraph. or phrase olthis
Agreement is for anl reason held invalid, such decision shall not affect the validity ofthe
remaining porlion of this Agreement.
F. Occuoanc,r'. Unless approved in uriting b1'the Citv Engineer. no one ma) occupy.a building
for tvhich a building permit is issued on either a temporar)' or permanent basis until the streets
needed lor access have been paved with a bituminous surface and the utilities tested and
approved b1, the cin. The Subject Propeq, has an exisring 18-unir multifamilr building on
it. Construction of the neu l2-unit and l6-unit buildings shall not have bearing on the
occupanc)i ofthe existing l8-unit building.(i. Waivers/Amendments. The action or inaclion ol'the Cill' shall not constitule a u'aiver or
amendment to the provisions of this Agreement. To be binding, amendments or n,aivers shall
be in u'riting, signed by the parties and approved by written resolution of the Cit1, Council.
The Citv's failure to promptlv take legal action to enforce this Agreement shall not be a u,aiver
or release.
ll. Recording. This Agreement shall run u ith the land and mal be recorded against the title to
the Subject Property. The Developer covenants with the Cit1,, its successors and assigns, that
the Deleloper has lee title to the Subjecl Propertl and/or has obtained consents to this
Agreement. in rhe lcrrm attached hereto, from all parties uho hare an interest in the propert]:
that there are no unrecorded interests in the property; and that the [)eveloper u,ill indemnifl
and hold the Citl' harmless for anv breach ofthe loregoing covenants.I. Remedies. Each right, po\\er or remedl'herein conferred upon the (litv is cumulative and in
addition to even other right. pou'er or remedl. cxpress or irnplied. no*,or hereafler arising,
22987q\ l
.t
available to Cit\', at la\\ or in equitl, or under anv other agreemenl, and e.ach and ever1, right.
power and remed;' herein se1 forth or otheru,ise so existing may be exercised from time to
time as often and in such order as ma1'be deemcd expedient b1'the Citl and shall not be a
uaiver ofthe right to exercise at anr lime thereafter an1 other right, po\\,er or remed\..
Construction Hours. The normal construction hours under this Agreement shall be from 7:00
a.m. to 6:00 p.m. on weekdays, from 9:00 a.m. to 5:00 p.m. on Saturdays. with no such activity
allou,ed on Sundal s or anr, recognized legal holidal,s. Construction activities in conjunction
\\ith neu developments and Citf improvement projects. including but not limited to grading,
utilil) installation and paving, requiring the use- of heavy equipment shall be pcrmitted
betu,een the hours of 7:(X) a.m. and 6:00 p.m. on an) weekday and 9:00 a.m. and 5:00 p.nr.
on Saturday's. No such activitl is penritted on Sundavs or public holida;,s. Operation of all
internal combustion engines used for construction or de*,atering purposes bel,ond the normal
u'orking hours wiII require Cit1. CounciI approval.
K. So il Treatment Svstems lf soil treatntent s),stems are required. the Developer shall clearll.
identi$ in the field and protect frdn aheration, unless suilable altemative sites are first
pror,ided, the tu,o soil treatment sites identified during the site plan process for each lot. This
shall be done prior to the issuance of a Crading Permit. An1, violation/disturbance ol these
sites shall render them as unacceptable and replacement sites *,ill need to be located lor each
violated site in order to obtain a building permit.
L. Como liance u'ith Laus. Ordinances. an d Regulations ln the development ofthe site plan.
the Developer shall comply nith all lau,s, ordinances, and regulations of the lollowing
authorities:
City ofChanhassen;
State of Minnesota. its agencies, departments and commissions;
United Srates Army Corps ol Engineers:
Rilev Purgatory BluffCreek Watershed District;
Metropolilan Govemment. its agencies. departmenls and commissions
roofofl-itle. [ ]pon request, the Developer shall lumish the City rvith evidence satisfactorl.
to the City that it has the authority ofthe fee owners and contract for deed purchasers to enter
into this Agreement.
N. Soil Conditions. The Develo per acknoRledges thal the City makes no representalions or
\\arranties as to the condilion ofthe soils on the Subject Propen) or its filness lor construction
of the improvements or anv olher purpose for ll,hich the Developer mav make use of'such
proper[,. The Developer lurther agrees that it u,ill indemnifl, defend, and hold harmlcss the
Citl'. its goveming bodl rnembers, officers. and emplovees from anv claims or actions arising
out olthe presence, ifanr, of hazardous $'astes or pollutants on the Sub.iect Propertl. unless
hazardous wastes or pollutants were caused to be there by the City.
O. Soil Conection. The Develo per shall be responsible for soil correction work on the Subject
Propertl'. The Citv makes no representation to the Developer concc"ming the nature of
suitabili$ of soils nor the cosl ofcorrecting anl unsuitable soil conditions uhich may exist.
nsurance. [)cr elo per shall take out and maintain until six ((r) months a{Ier the tlitl has
accepted the public improvements, public liabilitl,and propeny damage insurance covering
personal injury'. including death. and claims lor properl) damage u,hich nral arise our of
Developer's uork or the *ork of its subcontractors or br one directll or indirectll emploled
by an1, of them. Limits for bodili injury and death shall be not less than $500,000 for one
person and $1.000.000 lirr each occurrence: limits fbr property damage shall be not less than
$500,000 for each occurrence: or a combinarion single limit policl of $1.000.000 or more.
I
2
3
4
5
M.P
l)
229879v1
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1'he Citl shall be named as an additional insured on the policl'. and the Developer shall file
with the CliE- a certificate evidencing coverage prior to the City signing the Agreement. The
cenificate shall provide that the Cit)' must be given ten ( I 0) da1's advance s'riuen nolice of
the cancellation ofthe insurance. The certificate may not oontain anl disclaimer fbr lailure to
give the required notice.
:2r)8?q! l
l-\llllll I Il
Legal Description:
Lot 2, Block l, Saratoga 3'd Addition
6
22987')rll
IRREVOCABLE LETTER OF CREDIT
No
Date:
TO: City of Chanhassen
7700 Market Boulevard. Box 147
Chanhassen, Minnesota 553 l7
Dear Sir or Madam:
We hereby issue. for the account of (N ame of Developer)and in your favor, our
lrrevocable Letter ofCredit in the amount of$ available to you by your draft
drawn on sight on the undersigned bank.
The dralt must:
a) Bear the clause, "Drawn under Letter
of (N ame of Bank)
of Credit No. , dated
,)
b) Be signed by the Mayor or City Manager of the City of Chanhassen.
c) Be presented for payment at (Address ofBank) , on or before 4:00 p.m. on November
t5,2_.
This Letter of Credit shall automatically renew for successive one-year terms unless, at least forty-
five (45) days prior to the next annual renewal date (which shall be November l5 of each
year), the Bank delivers written notice to the Chanhassen City Manager that it intends to
modifu the terms of, or cancel, this Letter of Credit. Written notice is effective if sent by
certified mail. postage prepaid, and deposited in the U.S. Mail. at least forty-five (45) days
prior to the next annual renewal date addressed as follows: Chanhassen City Manager,
Chanhassen City Halt, 7700 Market Boulevard. P.O. Box 147, Chanhassen, MN 553 17, and
is actually received by the City Manager at least thirty (30) days prior to the renewal date.
This Letter of Credit sets forth in full our understanding which shall not in any way be modified,
amended, amplified, or limited by reference to any document, instrument, or agreement,
whether or not referred to herein.
This Lefter of Credit is not assignable. This is not a Notation Lener of Credit. More than one draw
may be made under this Letter of Credit.
This Letter of Credit shall be govemed by the most recent revision ofthe Uniform Customs and
Practice for Documentary Credits. Intemational Chamber of Commerce Publication No. 600.
We hereby agree that a draft drawn under and in compliance with this Letter of Credit shall be
duly honored upon presentation.
:29879v1
Its
BY: