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�. lie First National Bank of h ;o <br />Cable address. NATIONAL CHICAGO <br />Telex number 2-53801 <br />STANDBY CREDIT <br />VILLAGE OF ELK GROVE <br />ELK GROVE VILLAGE, ILLINOIS <br />GENTLEMEN: <br />BY THE ORDER OF: <br />SDK INDUSTRIAL PARKS <br />A JOINT VENTURE <br />BY DRAPER AND KRAMER INCORPORATED, <br />A JOINT VENTURE PARTNER <br />30 WEST MONROE STREET <br />CHICAGO, ILLINOIS 60603 <br />WORLDWIDo 9ANKING DEPARTMENT <br />1NTERNATIL AL TRADE SERVICES GROUP <br />Two First National Plaza/Chicago, Illmois 600110 <br />DATE: OCTOBER 28, 1980 <br />MAIL <br />ALL DRAFTS DRAWN MUST BE MARKED: <br />FNBC: 1412-00300362 <br />OPENER'S REFERENCE NO. 300362 <br />WE HEREBY ISSUE IN YOUR FAVOR OUR IRREVOCABLE CREDIT FOR THE ACCOUNT OF <br />SDK INDUSTRIAL PARKS FOR AN AMOUNT OR AMOUNTS NOT TO EXCEED IN THE <br />AGGREGATE US DOLLARS 510,078.22 (FIVE HUNDRED TEN THOUSAND SEVENTY <br />EIGHT AND 22/100 US DOLLARS) AVAILABLE BY YOUR DRAFTS AT SIGHT ON THE <br />FIRST NATIONAL BANK OF CHICAGO, CHICAGO, ILLINOIS U.S.A. EFFECTIVE <br />OCTOBER 28, 1980 AND EXPIRING AT OUR OFFICE ON SEPTEMBER 1, 1981. <br />FUNDS UNDER THIS CREDIT ARE AVAILABLE AGAINST YOUR DRAFT(S) MENTIONING <br />OUR CREDIT NUMBER AS IT APPEARS ABOVE. <br />THE BELOW -MENTIONED DOCUMENTS MUST BE PRESENTED AT SIGHT ON OR BEFORE <br />THE EXPIRY DATE ON THIS INSTRUMENT IN ACCORDANCE WITH THE TERMS AND <br />CONDITIONS OF THIS LETTER OF CREDIT. <br />BENEFICIARY'S SIGNED AND SWORN STATEMENT EXECUTED BY THE VILLAGE MANAGER <br />AND THE VILLAGE ENGINEER (AND SIGNED AS SUCH) STATING THE FOLLOWING: <br />1. SDK INDUSTRIAL PARKS HAS FAILED TO COMPLETE CERTAIN PUBLIC IMPROVEMENTS <br />IN THE DEVELOPMENT KNOWN AS SDK REGENT BUSINESS CENTER, PHASE 1 (PROJECT <br />7054) AS MORE FULLY DETAILED IN EXHIBIT A ATTACHED TO AND FORMING AN <br />INTEGRAL PART OF LETTER OF CREDIT NO. 300362 AND IN THE ENGINEERING <br />PLANS PREPARED BY ELK GROVE ENGINEERING COMPANY, 860 LIVELY BLVD., ELK <br />GROVE VILLAGE, ILLINOIS 60007, WHICH PLANS WERE APPROVED BY THE VILLAGE <br />OF ELK GROVE ON OCTOBER 3, 1980; AND <br />2. THE AMOUNT SO DRAWN IS THE FULL AMOUNT NECESSARY TO COMPLETE SUCH <br />IMPROVEMENTS. <br />THIS LETTER OF CREDIT MAY BE REDUCED FROM TIME TO TIME BY SDK INDUSTRIAL <br />PARKS DELIVERY TO US OF THE VILLAGE OF ELK GROVE'S SIGNED STATEMENT <br />INDICATING THE AMOUNT BY WHICH THIS LETTER OF CREDIT NO. 300362 MAY BE <br />REDUCED. <br />THIS LETTER OF CREDIT IS AVAILABLE ON AND AFTER JULY 1, 1981. DRAWINGS <br />PRIOR TO JULY 1, 1981 ARE PROHIBITED. <br />(CONTINUED) PAGE 1 <br />ORIGINAL <br />