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Memo for Bennett Place MEMORANDUM TO: Vanessa Young, Director of Finance FROM: Joseph Jeffries, Manager of Planning Services DATE: May 28, 2004 RE: Irrevocable Standby Letter of Credit # 316 in the amount of $32,000 to Guarantee Construction of Electrical Service and Street Lighting in Bennett Place Subdivision. Please hold this Irrevocable Standby Letter of Credit until further notice. Thank you in advance for your cooperation.