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Erich Schuhmacher <br /> Highkood Foodservices Inc . <br /> 945 South McKnight Road <br /> St . Paul , MN 551.19-5823 <br /> July 2, 1992 <br /> Mr. Ray Nelson <br /> Liquor Manager <br /> City of St . Anthony <br /> Stonehouse <br /> 2700 Highway 88 <br /> St . Anthony, MN 55418 <br /> Dear Ray, <br /> It was my pleasure to meet and to talk to you on. July 1 , 1992 <br /> at the Stonehouse in St. Anthony . <br /> Here is my proposal to the Lease Agreement: <br /> I am very interested to lease the above property from the <br /> city of St. Anthony ( food service) for a period of <br /> • 5 years with the option for another 5 years . <br /> The same lease agreement as with the Manning's Inc. <br /> at 1200 .00 per month or 6% of food sales which ever is <br /> higher. <br /> I am willing to lease the kitchen equipment at 6% interest <br /> annually (up to 30,000.00 maximum) for up to 5 years <br /> with the option to buy out at any given time during <br /> the 5 years (60 months) at the price agreed on, without <br /> any penalties . During the leasing of the kitchen <br /> equipment , I will be solely responsible to keep the <br /> equipment in top working condition and pay for_ any <br /> repairs .needed . <br /> After reviewing the Breakfast sales (sales , food cost <br /> and labor cost) I have chosen not to open for breakfast . <br /> Operation house would be from 11 a .m. to 11 p.m. Monday <br />