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08/05/1999 13:04 6123364565 MSP REAL ESTATE, INC PAGE 02 <br /> May 24, 1999 <br /> City of Mounds View <br /> 2401 Highway 10 <br /> Mounds View, MN 55112 <br /> Re: Application for Rezoning of Tract A, <br /> Registered Land Survey No.414, <br /> By MSP Real Estate,Inc. ("MSP") <br /> Dear Sir/Madam: <br /> M&E Realty Co., as the owner of the above-described property("Property"),has <br /> entered into a purchase agreement with MSP for the sale and purchase of the Property. <br /> MSP's obligation to purchase this Property is contingent upon obtaining rezoning to <br /> allow for their development of an assisted-living facility. In order to allow MSP to <br /> obtain the rezoning of the Property,we have executed the application for rezoning. This <br /> Ietter is submitted in compliance with the City's requirement that a letter of permission <br /> from the owner of the Property be submitted with the application for rezoning. <br /> If MSP does not subsequently acquire title to this Property, we would prefer that the <br /> current B-2 zoning be maintained. Therefore,we request that if the City approves this <br /> application for rezoning,such approval be conditioned upon MSP acquiring fee title to <br /> the Property. <br /> Sincerely, <br /> M& E REALTY CO. <br /> t <br /> By: _ .�.t <br /> Bruce W. Engelsma, ' esident <br /> cr <br />