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515 Little Canada Road, Dane Canada, MN 5511.7-1600 <br />(651) 766 -4029 / FAX: (651) 766 -4048 <br />www. e1.little- Canada. mn. us <br />MEMORANDUM <br />TO: Mayor Biesener and Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: June 17, 2011 <br />RE: Graba Loan Agreement <br />MAYOR <br />13it1 nlesener <br />COUNCIL <br />Rick Montour <br />John Rely <br />Michael McGraw <br />Shelly Boss <br />ADMINISTRATOR <br />Joel R. Manson <br />Attached to this memo are the loan documents necessary to finalize our agreement with <br />Graba Properties LLC. The specific documents are as follows: <br />Promissory Note <br />Construction Loan Agreement <br />Mortgage <br />Assignment of Rents and Leases <br />Tenant Estoppel Certificate <br />Personal Guarantees <br />(Graba, Wagner, Lindahl, [ieitke) (Only one copy attached given only name is <br />different.) <br />Graba Certificate of Authority <br />These documents reflect the revised NeatoScan lease providing for a reduction in square <br />footage to 2,1.00. The balance oI'the terms and conditions remain essentially the same as <br />contemplated last raft We anticipate closing this transaction by the end of next week. <br />1 <br />