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TKDA <br />ENGINEERS • ARCHITECTS • PLANNERS <br />MEMORANDUM <br />1500 Piper Jaff ray Plaza <br />444 Cedar Street <br />Saint Paul, MN 55101-2140 <br />(651)292-4400 <br />(651) 292-0083 Fax <br />www.tkda.com <br />To: Chuck Dillerud Reference: Escrow Reduction <br />Copies To: Tim Freeman Farms of Lake Elmo <br />City of Lake Elmo, Minnesota <br />Comm. No. 13267.000 <br />From: Thomas D. Prew, P.E. Routing: <br />Date: August 29, 2006 <br />The street all have the first lift of bituminous on them. The sewer and watermain have been installed and <br />tested. The site has been seeded, the trails are complete, and the septic system is installed. <br />I would recommend that escrow be required as listed below: <br />Item <br />Remaining Cost <br />Site Grading/ Turf Establishment <br />$0.00 <br />Sanitary Sewer <br />$5,000.00 <br />Septic System <br />$20,000.00 <br />Watermain <br />$5,000.00 <br />Storm Sewer <br />$5,000.00 <br />Streets <br />$65,000.00 <br />Trails <br />$2,000.00 <br />Landscaping <br />$5,000.00 <br />Street Signs <br />$0.00 <br />Subtotal <br />125% Security <br />$107,000.00 <br />$133,750.00 <br />An Employee Owned Company Promoting Affirmative Action and Equal Opportunity <br />