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<br />, DOHERTY <br /> RUMBLE <br /> & BUTLER . . <br /> --:..- <br />. PROfESSIONAL ASSOCLA nON <br /> Mr. James S. Lynden <br /> July 6, 1987 <br /> Page 2 <br /> . . <br /> 928.3 foot by 278.6 foot parcel or 258,624 square <br /> feet for $581,90$.Y <br /> Both the 280 foot parcel and the 660 foot parcel can be <br /> adjusted to make th~~ somewhat larger or smaller. <br /> Regardless of the size of the parcel purchased, we would <br /> want to receive not less than approximately $40,000 in <br /> 1987 and the balance of the purchase pr ice in 1988. If <br /> the purchase is to involve either the 660 foot parcel or <br /> the 928.3 foot parcel, then for tax reasons we would like <br /> the closing to take place in the first quarter of 1988 but <br /> to still receive the $40,000 in cash in 1987 (assuming the <br /> Village is satisfied with title and so forth) - perhaps as <br /> a non-refundable option payment which would be applied <br /> against the purchase price. <br /> Ti tle to the property purchased would be delivered at <br />. closing free and clear of all encumbrances except road, <br /> . , access, and utility easements of record. <br /> I ,",ould be happy to . .appear at Wednesday night's special <br /> city council meeting to discuss this matter if that would <br /> be at all helpful. <br /> Very truly yours, <br /> ~.. <br /> James A. Stolpestad -"~ <br /> JASjmt:004 <br /> Enclosure <br />. <br />