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Aug 23 05 12:15p Sweeney August 23, 2005 VIA FACSIMILE AND U.S. MAIL Mr. Jerome P. Filla Peterson, Fram & Bergman 50 Fifth Street East Suite 300 St. Paul, MN 55101 Re: EDA — Guerin Property Stipulated Settlement Agreement Our File No. 8108 Dear Mr. Filial 6512235289 p.2 Our office represents the Economic Development: Authority of the City of Little Canada. We are in receipt of your letter, dated August 16, 2005, relative to the May 2001 Settlement Agreement between the EDA and the Guerin. Please be advised the City of Little Canada continues to be in support of your client's request that any clean up grant funds received will be used prior to the restricted fund. However, this letter shall also serve as a response to and clarification of the mischaracterizations noted in your correspondence to the City, as set forth below: 1. First, the Settlement Agreement between the EDA and the Guerins, which you drafted, should speak for itself. Your characterization in the first sentence of your letter that: "the proceeds in the restricted fund would only be used to pay for clean up of the property to the extent other sources of funding for clean up or redevelopment are not available" is not an accurate recitation of the Settlement Agreement. The applicable portion of the Settlement Agreement simply reads: "the principal amount of the restricted fund, may be used to fund the clean up of the property to the extent other sources of funding for clean up for redevelopment are not available." 2. With respect to the initial grant application you are correct in stating that the grant application included a copy of the Settlement Agreement. However, your characterization that when the City submitted the grant application it: "incorrectly represented that the restricted funds were available as a first source of funding" is not correct. Paragraph 29 of the grant