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2200 FIRST NATIONAL SANK BUILDING <br /> 332 MINNESOTA EIRF.FT <br /> SAINT PAUL, MINNESOTA 55101 <br /> BRIGGS ILvD MORGAN TELEPHONE (6121 223-6600 <br /> FACSIMILE (6121 223-6450 <br /> PROFESSIONAL,ASSOCIATION <br /> WRITER'S DIRECT DIAL <br /> (612)223-6620 <br /> WRITER'S E-MAIL <br /> July 28, 1998 <br /> ippmar@briggs.com <br /> VIA FAX <br /> Dave Maroney <br /> Community Partners Incorporated <br /> P.O. Box 138 <br /> Northfield, MN 55057-2019 <br /> Rick Jopke <br /> Mounds View City Hall <br /> 2401 Highway 10 <br /> Mounds View, MN 55112 <br /> • <br /> Re: Hotel Facility and Banquet Facility <br /> Gentlemen: <br /> The following is a description of certain terms to be included within a Development Agreement <br /> to be entered into with the developer of the hotel facility and a Development Agreement to be <br /> entered into with the developer of the banquet facility: <br /> 1. The developer will represent and warrant to the City that the developer has the power to <br /> enter into the Development Agreement. <br /> 2. The developer will cause the facility to be constructed in accordance with the terms of the <br /> Development Agreement and all City plan-use requirements and state and federal law <br /> regulations applicable to the facility, <br /> 3. The developer will agree to substantially complete the facility by a date specified. <br /> 4. The developer will agree to acquire the site on which the facility will be located and will <br /> negotiate the applicable relocation benefits. <br /> 5. The City will agree to provide upfront financing for project costs, including site <br /> acquisition and relocation benefits, in an amount presently estimated to be S1,700,000; <br /> provided that the following conditions have been complied with: <br /> 962504.1 <br /> MINNEAPOLIS OFFICE•IDS CENTER•WWW BRICCS.COM <br /> MEIBER—LEX MUNDI,h GLOBAL ASSOCIATION OF INDEPENDENT Ln1 FIRMS <br /> 27C 'OCC '/111 '+., V' .lry ^! QC= Q- „^ t':n'! <br /> Y <br />