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BRIGGS AND MORGAN <br />Mr. Joel Hanson <br />December 1, 1995 <br />Page 2 <br />In anticipation that the Developers may not be able to provide all of the information <br />and documentation necessary to complete and execute the Acquisition and Construction <br />Loan Agreement before Wednesday, Joel suggested that I prepare a separate Agreement <br />which evidences the Developer's payment of the $150,000.00 loan origination fee to the City <br />and the Developer's agreement to reimburse the City for costs which the City incurs in <br />connection with the issuance of the Bonds if the transaction does not close. A copy of that <br />Agreement is enclosed. It is my understanding the City will not issue the Bonds on <br />December 6th if the Developers are unwilling to sign the Reimbursement Agreemnet <br />If you have any questions or concerns regarding the revised Acquisition and <br />Construction Loan Agreement or the Reimbursement Agreement please call me at 223 -6564. <br />I will be working on the other loan documents (Note, Mortgage, Environmental Indemnity <br />Agreement, Development Agreement, Lease Subordination Agreement, Lease Estoppel <br />Certificates, Guarantees and Financing Statement) over the weekend and early next week. <br />I will send those documents out as they are completed. <br />TLB:se <br />Encl. <br />Thomas L. Bray <br />cc: J. Russell Fifield, Jr. (W/Encl.) <br />Robert D. Schwartz ( W/Encl. - Via Messenger) <br />Page 2 <br />