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Old Orchard Road <br />Skokie, Illinois 60077 <br />(312) 679-2200 <br />Old Orchard Bank 4 <br />IRREVOCABLE LETTER OF CREDIT <br />No. 1181 (s) <br />Amount: $8,000.00 <br />Dated: December 8, 1978 <br />Mr. Charles A. Willis <br />Village Manager <br />Village of Elk Grove <br />901 Wellington <br />Elk Grove Village, Illinois 60007 <br />Gentlemen: <br />We hereby open an Irrevocable Letter of Credit in your favor for the sum not <br />to exceed Eight Thousand and no/100 ($8,000.00) Dollars, United States currency, <br />for the account of Ben Rozansky and Robert Bradley, as general partners of <br />Regency Square Associates, 4339-B Milwaukee Avenue, Chicago, Illinois, available <br />by your drafts at sight on us drawn in the name of the Village of Elk Grove, an <br />Illinois Municipal Corporation, Elk Grove, Illinois. All drafts so drawn must <br />be marked "Drawn under Old Orchard Bank and Trust Company Credit No. 1181 (s) <br />dated December 8, 1978.." <br />Further each draft must be accompanied by a certified statement that Ben Rozansky <br />and Robert Bradley as general partners of Regency Square Associates have failed <br />to replace or repair by June 25, 1979 certain curb gutters on Perrie Drive, <br />and Grove Street in the Regency Square Complex. <br />Except so far as otherwise stated herein, this Credit is subject to the "Uniform <br />Customs and Practices for Documentary Credits (1974 Revision) International <br />Chamber of Commerce Publication No. 290." <br />We hereby engage with the drawers, endorsers and bona fide holders of drafts drawn <br />under and in compliance with the terms of this Credit that same shall be duly <br />honored upon presentation and surrender of the documents to the drawee. This <br />Credit must accompany any draft which exhausts the credit and must be surrendered <br />concurrently with the presentation of such draft. <br />This credit expires July 31, 1979. <br />Sincerely, <br />OLD ORCHARD BANK AND TRUST COMPANY <br />BY• _ <br />ice President <br />