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<br />. <br /> <br />. <br /> <br />. <br /> <br />JU'ne 26, 2002 <br />Page 2 <br /> <br />In this case, because we recovered approximately 53.5 perr.:ent of the absolute maximum we <br />could recover (which was rcclw:ed by the available insurarrce limits) and~ rurlhcr~ b(;cause Lhe <br />City's claim is roughly 25 percent of the subrogation claim, I recommend the City take $5,000 <br />out of the current $45,000 scttk.menl proceeds with the balance being applied to this claim, <br />reducing the inc.Tease 1n premium claim even further. <br /> <br />T do not pretend to understand haw premi Urns are calculated by the League of Minnesota. Cities <br />Insurance Trust Essen Lially . premiums and payments are city monies anyway plltSllant to the <br />organizational structure. I am not involved in determining what money goes where. I apologize <br />I cannot explain it any better. <br /> <br />J have forwarded the $45,000 ~hE!ck to Patty Prenlice. which includes a slgnatura line for the City <br />of Mounds view and the League of Minnesota Cities InsllT211c:e Trust. ~ well as my office. 1 <br />have endorsed the check from my standpoint and I need the City and the League to sign the <br />check, as well as the attached Release. Enclosed is a copy army recent letter to Patty Prentice. I <br />understand you have talked with her about this matter. As soon as 1 obtain the fully executed <br />Releasc and return lhat to Leland Wagner's attorney. we win be In a position to close our file. <br /> <br />Please contact me for a better explanation of this seUlement than I am able to provide! in writing. <br />1 suggest a conference call with your office. Ms. Prentice and myseIfta expedite th~ resolution of <br />this rnalter. <br /> <br />Thank you. <br /> <br />Yours truly. <br /> <br /> <br />~~ERS.LLC <br /> <br /> <br />Jon K. Iverson <br />JKI:be <br /> <br />Enclosures <br /> <br />cc: Pa1.ty Prentice, LMCI"f <br /> <br />.... .... ,... ... .... ~ r ~;; ....' ~ .::" ~ .; U. '!' c." ,.., t"'! ':'1' ,'\.-:;':.. '!".- " <br />