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n <br />tran <br />MINNCAPOLIS <br />2510 Mlnneheha Avenue <br />Minneapolis, MN W04 <br />Telephone: (812) 721.4877 <br />HAWAII <br />Suite 1465 <br />Grosvenor Center <br />733 Bishop Street <br />Honolulu, Hawaii 96813 <br />Telephone: (808) 523.8881 <br />January 9, 1987 <br />FREEEIVED <br />Mr. Donald F. Pauley `Clerk -Administrator City of Mounds View 2401 Highway 10 Mounds View, MN 53112 <br />RE: M t: E Realty <br />Bond No. 400GII 2432 <br />Dear Mr. Pauley: <br />I refer to your letter of January 7, 1987 and to uur telephone <br />conversations on January 8, 1987. <br />When I submitted to the City a request for a reduced bond amount <br />I did so based on a Security Schedule that was attached to my <br />copy of tire Development Agreement. I have, for your information, <br />attached that page to this letter. <br />Based on the above and on the Development Agreement itself, I <br />was surprised to find that the City Council would make a <br />security reduction that was tied into the Council's understand- <br />ing as to our marketing and development efforts. It is not my <br />understanding that the security requirements are tied into our <br />?ffort to develop and market and I would like to have this item <br />:larified. <br />.f you have any questions as to the above, then please give me <br />i call. <br />'ery truly yours, <br />'ore Wistrom ' <br />'ice President <br />W:rm <br />BL-5 z <br />AGRrs��N w <br />cV^'�bf.. v ��D�IJr rlfwfJl (i7 °'':sv <br />i iPh' <br />'� )f1,7 1✓ l�ni <br />D.r1, l.�v,in7! t A <br />KRAUS - ANOERSON DEVELOPMENT CORPORATION <br />is <br />