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Mr. Joel Hanson <br />March 4, 2004 <br />Page ii <br />We understand that the City would like to have the sprinkler system installed. However, <br />the rental market over the past two years has been so soft that The Provinces has not <br />generated any cash flow. In fact, the general partner has loaned the property $78,000 <br />over the course of the last two years to support operations. The property continues to <br />have pressing physical needs including an immediate need to replace a roof at an <br />estimated cost of $68,000. The monies released from the escrow will help fund these <br />improvements. <br />Please call me directly with any questions or comments. My direct line is (763) 354- <br />5609. <br />DOMINIUM DEVELOPMENT & ACQUISITION, LLC <br />Sincerely, <br />David E. Dye; <br />Enclosures <br />CC: Harry Jacobs <br />- 6 - <br />2355 Polaris Lane North Suite 100 Minneapolis, MN 55447 Phone 763/354 -5500 Fax 763/354 -5650 <br />