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BRIG AND 'IORGAN <br />Mr. Joseph Chlebeck <br />Clerk - Treasurer <br />June 20, 1986 <br />PAGE 2. <br />requirements. Attached as Exhibit A to the enclosed Resolution <br />is a form of Request for Extension; we have sent the form to <br />Brutger Companies for their execution and will deliver an executed <br />Request to you prior to Wednesday's meeting. <br />The Indenture and Loan Agreement for the Bonds require <br />that the land for the Project be acquired and the Declaration <br />recorded against the land prior to July 1, 1986, unless the <br />Company requests that the City extend such date and the City <br />and Trustee receive an opinion of bond counsel that such extension <br />will not impair the tax - exempt status of the Bonds. While the <br />Borrower acquired the land for the Project on June 19, 1986, <br />for technical reasons relating to completion of the replatting <br />process, the Borrower would like to record the Declaration against <br />the actual lots on which the Project will be located on or about <br />August 1, the expected date of remarketing of the Bonds. The <br />extension is acceptable to us as Bond Counsel, and we have <br />attached to the enclosed Resolution our approving opinion that <br />such extension will not impair the tax - exempt status of the <br />Bonds. <br />We recommend that the City grant the extension, as this <br />Project appears to be moving forward on an acceptable schedule. <br />If you have any questions about the enclosed Resolution <br />or our opinion, or about the remarketing of these Bonds, please <br />do not hesitate to call. <br />Very truly yours, <br />Andrew R. Kintzinger <br />cc: G. Terry McNellis <br />Suzanne B. Van Dyk <br />Wallace T. Johnson, Jr. <br />Tim Sandell <br />(w /attachments) <br />