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Letter of Credit Memo MEMORANDUM TO: Vanessa Young, Director of Finance FROM: Mark Locklear, Manager of Planning Services DATE: August 14, 2008 RE: Subdivision Performance Bond #S-644987 in the amount of $7,550.00 to Guarantee Landscaping in Gwen Oaks Subdivision. Please hold this Irrevocable Standby Letter of Credit for the subdivision referenced above until further notice. Thank you in advance for your cooperation.