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Dexterfield _2_ MEMORANDUM TO: Vanessa Young, Director of Finance FROM: Joseph Jeffries, Director DATE: July 27, 2006 RE: Release of Irrevocable Standby Letter of Credit # 70-204712-4 for Dexterfield Subdivision Please release the Irrevocable Standby Letter of Credit in the amount of $400,000.00 for Dexterfield Subdivision. The Planning Department has inspected the subdivision all the improvements have been completed. Thank you for your assistance.