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8375662v3 <br /> <br /> 1 <br /> <br />__________________, 20___ <br /> <br /> <br />To: AX Lino Lakes L.P. (“Purchaser”) and its lenders <br />Re: Contract for Private Development dated July 25, 2016 (the “Development Agreement”) by <br />and among Lino Lakes Economic Development Authority (the “Authority”), United <br />Properties Development LLC ("Developer"), and Distribution Alternatives, Inc. (“Tenant”) <br /> <br />Gentlemen: <br /> <br /> Reference is hereby made to the Development Agreement described above, which relates to <br />certain property in Lino Lakes, Minnesota described on Exhibit A to the Development Agreement (the <br />"Project"). Purchaser is intending to acquire the Project from Developer, and Purchaser and its lender <br />have required this confirmation letter prior to acquiring or financing the Project, as applicable. <br /> <br />The City hereby certifies and confirms to Purchaser and its and their respective successors and/or <br />assigns, that as of this date with respect to the Project: <br /> <br /> 1. The Development Agreement is unmodified and in full force and effect in accordance <br />with its terms. <br /> <br /> 2. To the actual knowledge of the undersigned, there are no known defaults by Developer or <br />Tenant under the Development Agreement. <br /> <br />3. The Authority has waived the initial reporting for March 1, 2017 of the reports due under <br />Section 3.4(c) and Section 3.5 of the Development Agreement, as the Benefit Date (as <br />defined in the Development Agreement) had not yet occurred as of such initial reporting <br />date. <br /> <br /> <br /> LINO LAKES ECONOMIC DEVELOPMENT <br />AUTHORITY <br /> <br /> <br /> By: __________________________ <br /> Name: Jeff Karlson <br /> Its: Executive Director