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<br />00116623.DOCX / v. 1 <br /> <br />IMKD3, LLC <br />ARDEN HILLS 1031 LLC <br />c/o Kensington Development Partners <br />700 Commerce Drive <br />Suite 130 <br />Oak Brook, Illinois 60523 <br /> <br />VIA E-MAIL <br /> <br />dswearingen@cityofardenhills.org <br /> <br />April 30, 2021 <br /> <br />Public Works Director and City Engineer <br />City of Arden Hills <br />1245 West Highway 96 <br />Arden Hills, MN 55112 <br /> <br />Re: Development Agreement dated April 12, 2021 (“Agreement”) between IMKD3 LLC, a <br />Delaware limited liability company and Arden Hills 1031 LLC, an Illinois limited lability <br />company (collectively “KDP”) and the City of Arden Hills, Minnesota (“City”). <br /> <br />Gentlemen & ladies: <br /> <br /> Please accept this letter as the undersigned’s promise and covenant to pay (i) any and all costs <br />with regard to the KPD ROW Work (as defined in the Agreement) and (ii) any and all costs incurred by <br />the City under that certain Agreement between the City and the County of Ramsey, Minnesota dated <br />April _____, 2021 (the “County Agreement”) with regard to the installation, maintenance, repair and <br />removal of the Temporary ROW Work (as defined in the County Agreement) and any other third party <br />costs incurred by the City under the County Agreement. <br /> <br /> <br /> Very truly yours, <br /> <br />IMKD3 LLC, <br />a Delaware limited liability company <br /> <br />By: ______________________________ <br />Name: Chad W. Jones <br />Title: Authorized signatory <br /> <br /> <br /> <br />ARDEN HILLS1031 LLC, <br />an Illinois limited lability company <br /> <br />By: ______________________________ <br />Name: James Eck <br />Title: Authorized signatory