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PARKS REAL ESTATE - PROPOSAL TO LITTLE CANADA <br />REGARDING -the approximate 144,000 s.f. of and located on the north <br />side of Little Canada Rd. at the intersection of Little Canada <br />Rd. and Rice street. <br />DEVELOPMENT PROJECT <br />-two buildings <br />one 3- story;44,000 r.s.f. <br />one 1- story;7,000 r.s.f. <br />START DATE -April 1999 <br />DELIVERY OF LAND <br />-title to the land will be delivered to Parks Real Estate in two <br />phases <br />Phasel -the approximate 90,893 s.f. of land on the south <br />side of the block adjacent to Little Canada Rd.will <br />be delivered to Parks prior to ground breaking in <br />April 1999 <br />Phase2 -the approximate 53,107 s.f. of land on the north <br />side of the block currently occupied by US Bank <br />for their current operation. This land will be <br />delivered to Parks in Sept. of 1999. <br />PAYMENT FOR LAND <br />- payment of $250,000 will be paid by Parks to the City <br />of Little Canada by June 1,2000. <br />Page 70 <br />PARKS <br />REAL ESTATE <br />