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rYiR 07 '89 15:r5 F+ClP'E: 3 _-f?AVEtI P.2 n <br />HofasF,s"/�`&''�G�itt�v>;'Jv f--3 <br />Ctuareaep <br />ROBERT J. DEIFH 49 Pillsbury Corr. Miampolis. Minnes- 33402 <br />Alh r) a 1.++' 1613) 337-9300 <br />Dust D,3116131 337-42W <br />March 6, 1989 <br />Donald F. Pauley <br />Clerk -Administrator <br />City of Mounds View <br />2401 Highway 10 <br />Mounds View, MN 55112 <br />RE: Mounds View BusincsF Park Buildings E and C <br />Dear Don: <br />As we have discussed, I have been provided by Allan Anderson and Bill Franke of <br />Commercial Property Investments, Inc, with certain documents relating to the <br />Mounds View Business Park development. Li particuler, they have provided me with <br />the following documents: <br />1. a Certificate of Completion and Release of Forfeiture relating to the property <br />at Lot 2, Block 1, `founds View Buness Park Second Addition. <br />2. A Certificate of Completion and Release of Forfeiture relating to Lot 1, Block <br />2, Mounds View Business Park, <br />3. The letter from the rosevIlle Bank amending the Irrevocable Letter of Credit <br />No. 228 previously delivered in connection with the ?,founds V;ew Business Park <br />development under the terms of the Contract for Private Redevelopment. <br />4. A form of Asngnment, assumption and Consent rider which the Contract for <br />Private Redevelopment will be assigned from Everest Development, Ltd, and <br />Commercial Property Investments, Inc. to Multi -Tech Systems, Inc. as it relates <br />to the Multi -Tech property, <br />5. A form of irrevocable Letter of Credit to be issued in the amount of $108,785 <br />to cover the obligations of Multi -Tech Systems, Inc. under Section 8.1 of the <br />Contract for Private Redevelopment. <br />After reviewing each of these documents, I find them to be consistent with the <br />requirements of the Contract for Private Redevelopment. I have not, however, <br />analyzed the financial calculatiorz supporting the developer's request for <br />disbursement of tax increment hinds, if you would like assistance in that regard, <br />.please let me know. <br />Sincerely, <br />Robert J, Deilte <br />RJD:jes <br />