05-22-2023 EDA Packet - Laserfiche WebLink

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ESTOPPEL CERTIFICATE ____________, 2023 OIVF III Clearwater, LLC, its successors and assigns (“Purchaser”) 5050 Lincoln Drive, Suite 420 Edina, MN 55436 RE: That certain Contract for Private Development dated July 25, 2016, recorded in the office of the Anoka County Recorder on November 1, 2016 as Document No. 2153796.001, as affected by that certain Certificate of Completion dated November 14, 2017, recorded in the office of the Anoka County Recorder on January 2, 2018 as Document No. 2189877.001, as affected by that Assignment and Assumption of Contract for Private Development and Assignment of TIF Note dated December 20, 2017, recorded in the office of the Anoka County Recorder January 2, 2018 as Document No. 2189877.004 (collectively, the “Contract for Private Development”). Ladies and Gentlemen: The following statements are made by the LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY, MINNESOTA, a public body corporate and politic under the laws of the State of Minnesota (the “Authority”), with respect to the Property (as defined below). The Authority acknowledges that Purchaser and its lenders (together with their successors and assigns) may rely on the statements in this estoppel certificate in connection with the proposed acquisition by Purchaser of the property located at 6870 – 21st Avenue South, Lino Lakes, Minnesota, as more particularly described in the Contract for Private Development (the “Property”). The Authority, as a party or successor to the Contract for Private Development, certifies to Purchaser and its lenders (together with their successors and assigns) that, to the Authority’s knowledge, the following statements are true, correct and complete as of the date hereof: 1. The Contract for Private Development is in full force and effect and has not been modified, supplemented, amended or assigned except as set forth above. 2. To the best knowledge of the undersigned, the Authority is not aware of any uncured defaults, events of default, or breaches (including any past due or delinquent repair or maintenance costs, assessments, payments, charges, fees, reimbursements, or other amounts) under the Contract for Private Development. If any of the above statements are untrue, incorrect, or incomplete as of the date hereof, the Authority will specify, in reasonable detail the nature of any exceptions to or contradictions of such statement. [Signature Page Follows]