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Page Four <br /> May 21, 1996 <br /> SCHEDULE B <br /> This Schedule illustrates the form of a Revenue Note. The proposed Revenue <br /> Note has a principal amount of $1,285,334, payable over fifteen (15) tax <br /> increment years at 7% simple interest. The Revenue Note, dated as of 8/1/96, is <br /> payable semi-annually, with the first payment on 8/1/98 and the final payment on <br /> 2/1/2013. <br /> SCHEDULE C <br /> This schedule sets forth the estimated site improvement and public improvement <br /> costs Everest expects to incur to develop the project. Please note that in <br /> addition to installation of water, sanitary sewer and storm sewer service to the <br /> • property, the public improvements include the reconstruction/improvement of a <br /> portion of Program Avenue adjacent to the Building N site, where the pavement <br /> is currently substandard and curbing nonexistent or in poor repair. <br /> The foregoing proposal presents an opportunity for Everest and the City to retain <br /> and attract successful companies to the Mounds View business community, and <br /> to take another step toward completion of Mounds View Business Park. Time is <br /> of the essence in our negotiations with the tenant prospects described above. / <br /> We look forward to discussing this proposal with you and the EDA at the earliest <br /> opportunity. <br /> Sincerely, ry <br /> THE EVEREST GROUP, LTD q"‘I <br /> ti (1)-.: )37 <br /> Timothy J. Nelson �� rte' <br /> TJN:lc <br /> • • r1/4y--) <br /> mviet596 i\ �1/4� <br />