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Properties Inc. <br />February 5, 1991 <br />City of Little Canada <br />Joel R. Hanson, Administrator <br />515 Little Canada Road <br />Little Canada, MN 55117 <br />RE: Grand Pre' Apartments <br />Dear Mr. Hanson: <br />Pursuant to your telephone call of yesterday, I wish to advise you <br />that we have no intention whatsoever of selling or disposing of the <br />Grand Pre' Apartments. <br />We are proceeding with the reconstruction of the fire damaged <br />portion of the building, and also, we are now installing a <br />sprinkler system approved by the City for the entire building. <br />To add to our problems, there has been no settlement with the fire <br />insurance company, and we are currently borrowing money for the <br />reconstruction. Under the circumstances we can't have the title <br />clouded with any further documentation. <br />In the event, and we can't foresee such an event that we sell the <br />property we will first notify the city to insure the city that its <br />interests are fully protected. <br />Yours verty truly, <br />BELLAIR .P OPERTIES, INC. <br />d Gies/ <br />CEO <br />TG /bh <br />S ryZ/ f ai <br />431 SOUTH SEVENTH STREET, SUITE #247Q 4Th&NS OLIS, MINNESOTA 55415 - (61 2) 341 -2651 <br />