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ARDEN HILLS SPECIAL CITY COUNCIL - DECEMBER 15 1997 5 . indicate "mutually agreed changes," So, any further changes would have to be mutually agreed to by both parties. Mayor Probst expressed concern for raising the height on Billboard #3. Mr. Ringwald indicated their consultants have expressed the same concerns but, with the visual effects of trees, etc. they want some flexibility, Mr. Ringwald assured the Council if there was an option to strengthen the language in the agreement, Staff explored it. Councilmember Aplikowski concurred with Staff to bring this issue to a close and prevent any further attorney's fees. MOTION: Councilmember Aplikowski moved and Councilmember Keirn seconded a motion to approve the Statement of Intent and Purchase Agreement with Morris Communication Corporation substantially in the form presented, subject to nonsubstantial changes being approved by the City's Attorneys and City Administrator, and authorize the Mayor and City Administrator to execute all necessary documentation. The motion carried (4-1). Mayor Probst opposed. 4. Sales and Purchase Agreement, Welsh Development Company, LLC Mr. Fritsinger indicated Council previously approved the Sales and Purchase Agreement with . Welsh, Since that time, substantial changes have been made to the agreement and Staff would like the Council to review these changes, Mr. Fritsinger pointed out the change in site plans and eXplained discovery from construction and financing requirements have caused many issues. During this time, Welsh representatives raised the issue of not having sufficient financing to deliver $311,115 in cash or certified check at closing, They proposed having an immediate write down to $49,710 at the time of closing. City representatives objected to this proposal. Mr. Fritsinger indicated Staff negotiated additional language under Section 2 of the agreement which meets the spirit of the original purchase price and addresses both party's concerns, giving the City a check of $49,000 at the time of closing and obtaining a note from Welsh, along with a personal note from the president of Welsh. Mayor Probst inquired if this was just a mechanism to make what the City had agreed to work. Mr. Post indicated that would be correct. Mayor Probst asked if there was any concern that Welsh would finance the balance, Staff did not have any concerns. Councilmember Malone indicated it was already guaranteed the money would be spent on the brick and, basically, the value ofthe property had increased from the assessed value. Mr. Post stated he would concur. . Councilmember Hicks commented on the good job which Staff had done to ensure the safety of the investment ofthe City. ---. ..-----