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_ I <br />THE EVEREST GROUP LTD r <br />June 21, 1989 <br />itn ltl F. vaule •'+� +'b`7` ^.r <br />Clerk/Administy <br />rator <br />City of Mounds View <br />2401 Highway l0 <br />Mounds View, MN 55112 <br />Dear Don: <br />Our facility at 2200 County Road H-2 (Building B) is <br />sremises ubstantially complete. AT&T and Multi -Tech now occupy <br />Occupancylontthosehe ildin. We have tenants (copies enclosedCertificates of <br />matter of months before Vicorp )' it will be a <br />Possession of their premises, as th(Batenant Square) <br />o`ltakess <br />substantial. <br />I am enclosing a copy of the proposed Certificate of Substantial Completion and <br />review and signature. The Certificate elseOForfeiture for your <br />accordance with Schedule D to the Contract as nforepPrivate <br />Redevelopment and I have submitted a copy to Bob Deike for <br />review and approval. <br />An Assessment Agreement which establishes a building value <br />as of January 2, 1990 of $1,650,000, has been prepared and <br />recorded. I understand that you were prnvt+ded .,;it' a copy <br />of the recorded Agreement on February 15, 1989. <br />Based upon the foregoing, we believ_ we have substantially <br />reired under the <br />ContCompleted ractfor Private the u Redevelop ent rovementswhich will allow for <br />execution of the certificate of Completion. i k <br />that you make arrangements for execution and return would of ask <br />Certificate. Thereafter, we will make arrangements fthe <br />or <br />recording and provide you with recording data. <br />Following Certificate completion, all conditions orecedent <br />to the funding of the land buy down on Building P will be <br />complete. Based upon the percentage of Building Fps <br />assessed value p <br />assessed v ($1,650,000) to the entire project value of <br />attributable to Building F anstimatef the land buy down <br />based upon the estimate < `.$217,;_„• This estimate is <br />cI uuna funds available for land <br />