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LETTER OF CREDIT <br />Village of Elk Grove Village <br />901 Wellington Avenue <br />Elk Grove Village, Illinois 60007 <br />Gentlemen: <br />Maintenance Guaranty <br />Letter of Credit No. 153 <br />Date: January 12, 2005 <br />Amount $ 14,363.00 <br />Expiration Date: May 1, 2007 <br />�� <br />-:_kit 119 <br />m <br />We hereby establish our Irrevocable Straight Letter of Credit in your favor for the <br />account of Patrick Flayers Builders, Inc., hereafter called the "Developer", in the <br />aggregate amount of $14,363.00, U.S. Currency, available by your draft drawn on sight <br />and marked "Drawn under Letter of Credit No. 153 dated January 12, 2005. <br />These monies are to guarantee the maintenance of public improvements for the following <br />project: Sara's Court, described in the engineering plans and specifications with <br />revisions dated —,S -Z , ,1-, 2yoy, prepared by /6-o; 4"f .",u 045 r.V ",�. n4dr,t i r.f <br />and agreements (including any amendments thereof) on the property legally described in <br />Exhibit A (attached hereto and made part thereof). Monies may be drawn on sight by the <br />Village of Elk Grove Village when accompanied by the following document: <br />A signed statement by the Village Manager or any other <br />duly authorized official of the Village of Elk Grove Village <br />certifying that any portion of the site improvements has not <br />been satisfactorily maintained. <br />Member FDIC <br />165 South Randall Road • Elgin, Illinois 60123 <br />(847) 622-8800 • Fax (847) 622-8861 • www.ilrstcombankxom <br />LENDER <br />Locally Owned and Managed <br />Member FDIC <br />