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<br /> Letter of Understanding . <br /> Whereas, Section 9 of the Preliminary Development Agreement between the undersigned dated <br /> July 13, 1994, addresses modifications and extensions to the agreement; and <br /> Whereas, The Developer, has requested that the Preliminary Development Agreement be <br /> extended for an additional 60 days; and <br /> Whereas, The City has reviewed and approved the request for an extension of 60 days; and <br /> Whereas, The Developer undertakings detailed in Section 3 shall be completed and submitted to <br /> the City no later than December 13, 1994 and the date for termination stated in Section 9 shall be <br /> changed to December 13, 1994. <br /> Now Therefore, the City and Developer agree that all other sections of the Preliminary <br /> Development Agreement shall remain in effect during the extended term of this agreement. <br /> CITY OF ARDEN HILLS EVEREST DEVELOPMENT, L TD . <br /> By By <br /> Date Date <br /> By By <br /> Date Date <br /> . <br />