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LAW OFFICES <br />BRIGGS AND MORGAN <br />PROFESSIONAL ASSOCIATION <br />2200 FIRST NATIONAL BANE BUILDING <br />SAINT PAUL, MINNESOTA 55101 <br />TELEPHONE (012) 223 - 6600 <br />FACSIMILE (612) 223 -6460 <br />WRITER'S DIRECT DIAL NUMBER <br />(612) 223 -6564 <br />VIA MESSENGER <br />Mr. Joel Hanson <br />City Administrator <br />City of Little Canada <br />City Hall <br />515 Little Canada Road <br />Saint Paul Minnesota 55117 <br />VIA MESSENGER <br />Mark A. Hotzler <br />c/o Towle Real Estate Company <br />Towle Building, Suite 800 <br />330 Second Avenue South <br />Minneapolis, Minnesota 55401 <br />December 1, 1995 <br />MINNEAPOLIS OFFICE <br />2400 ID5 CENTER <br />MINNEAPOLIS, MINNESOTA 55402 <br />TELEPHONE 1012) 324-0400 <br />FACSIMILE 1012) 3348080 <br />Subject: City of Little Canada - Acquisition and Construction <br />Loan to Robert Grootwassink and Mark Hotzler; Our File No. 6095.85 <br />Dear Mr. Hanson and Mr. Hotzler: <br />Enclosed is a revised Acquisition and Construction Loan Agreement and a red -lined <br />copy of the revised Acquisition and Construction Loan Agreement showing changes from <br />the November 14, 1995 draft. <br />The City would like to execute the Acquisition and Construction Loan Agreement <br />before it sells the Bonds on Wednesday. To do so, however, the Developer must provide <br />a legal description of the land to be attached as Exhibit A, and a list of Permitted <br />Encumbrances and Leases to be attached as Exhibit B, and the City and the Developer must <br />agree upon general descriptions of the rehabilitation work and the enhancement work for <br />Exhibits C and D. In addition, the parties must establish commencement and completion <br />dates for the work in order to complete Section 6. <br />Page 1 <br />