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V <br /> THE EVEREST GROUP LTD <br /> February 12, 1992 <br /> V. Samantha Orduno <br /> Clerk Administrator <br /> City of Mounds View <br /> 2401 Highway 10 <br /> Mounds View, MN 55112 <br /> • <br /> Re: Mounds View Business Park South <br /> Final Request for Land Buy Down <br /> Dear Ms. Orduno: <br /> P.s we near completion of the last two buildings in <br /> Mounds View Business Park South, it is time to request the 0 <br /> City of Mounds View to release the remaining funds reserved <br /> for land buy down. We have met the conditions for release of <br /> these funds as set forth in the Contract for Private <br /> Redevelopment (Contract) dated September 25, 1989 , <br /> Specifically: <br /> 1) We have constructed the Minimum Improvements at Mounds <br /> View Business Park South contemplated by Sections 4 . 1 <br /> and 4 . 2 of the Contract; <br /> 2) We have met the cumulative assessor's minimum market <br /> value of S7,400, 000 as--of January-1, 1992, as required <br /> by Section 4 . 3 of the Contract; <br /> 3) We request that you issue a Certificate of Completion <br /> and Release of Forfeiture as required by Section 4 . 4 of <br /> the Contract. This Certificate is to be issued to <br /> Everest, as Redeveloper, to certify that. the Redeveloper <br /> has met the obligations of the Contract as to the <br /> construction of Minimum Improvements, with respect to - <br /> the entire project. For your convenience, we are <br /> enclosing a proposed draft of the necessary Certificate 'S <br /> of Completion for review and approval. <br /> • <br /> 2645 Long Lake Road ___. <br /> P.t?. <br /> Box 130190 • Roseville, MN 5113 <br /> (612)636-5500 <br />