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payment is received and the total amount of the specials' owed to the <br />City is reduced. Any interest earned on the Letter of Credit will <br />accrue to Dellwood's benefit. Should any default in the required <br />payments occur, the City, without notice to Dellwood, is authorized <br />to draw on the Letter of Credit in order to make the delinquent special <br />assessment payment(s). <br /> <br /> 3) That the City will endorse over to Dellwood the check in <br />the estimated amount of $1,848.62 drawn on the account of Chicago Title <br />Insurance Company which was for the special assessment payable. <br /> <br />! <br />I <br /> <br /> 4) That Dellwood and the Homeowner will defend and hold harm- <br />less the City from any and all actionS-Which may be brought against the <br />City as a result of its actions in this matter. <br /> <br />Jeffery George $ci~midkunz <br /> <br />DELLWOOD CONSTRUCTION COMPANY <br /> <br />I <br /> <br />I <br />I <br />I <br /> <br />WITNESSES: ' <br /> <br />by: <br /> <br />its <br /> <br />CITY OF RAMSEY <br /> <br />DATED: <br /> <br />/ Itl' s ?dministrator <br /> <br />I <br />! <br /> <br /> <br />