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• February 22, 2010 ;,S <br /> Sent Via E-Mail Transmission �6;'�compEsrlies, Inc. <br /> 366 South Tenth Avenue <br /> PO Box 727 <br /> Mr. Stan Harpstead Waite Park. MN 56387-0727 <br /> Honorable Mayor Office: (320)202-310() <br /> City of Arden Hills Fax: (320)202-3139 <br /> 1245 West Highway 96 E-trail: SUI6u.;SandCompanies.cont <br /> \telFsite: t\tvw4SandContpanies.com <br /> Arden Hills, Minnesota 55112 <br /> RE: Sale of Tower at 1296 County Road F West. <br /> Arden Hills, Minnesota. <br /> Dear Honorable Mayor Harpstead: <br /> As you are aware,Arden Village, LLC is proposing to develop a housing project located at <br /> the above address called Arden Village. With our purchase of the land for our proposed <br /> development, the site includes a tower and other improvements that we are proposing <br /> to separate from our project. <br /> The operation of a tower is not a business we are familiar with or are very interested in <br /> pursing. Our goal is to develop and own a quality housing development that will help <br /> meet some of the housing needs and goals for the City of Arden Hills. With the City <br /> already in this business with the water tower antennas, we are proposing to offer the <br /> tower and related improvements to the City. <br /> Some of the more significant terms and conditions of the proposal are as follows for the <br /> sale from Arden Village, LLC or assigns ("Seller")to the City of Arden Hills ("Buyer"): <br /> 1. Property. The sale will include the tower and corresponding leases agreements, <br /> related improvements and the real property encompassing approximately 0.50 <br /> acres, herein referred to as the "Property". <br /> 2. Access & Platting. Seller shall provide access to the Property through a perpetual <br /> easement and shall construct a driveway to the Property at Seller's cost. Any <br /> improvements on the Property will be at the cost of the Buyer. Seller and Buyer <br /> shall enter into a maintenance agreement for the improvements within the <br /> easement area. Seller shall pay for all costs relating to platting including <br /> surveying and engineering and Buyer shall waive the City's platting fees. <br /> 3. Sale Price. The sale price will be determined from an appraisal of the Property <br /> by an independent, third party appraiser and payable in the following manner: <br /> cash at closing from the Buyer in the amount of $1.00 and the balance will be <br /> deemed as a charitable donation from Seller to the Buyer. The cost of the <br /> appraisal will be paid by Seller. <br /> • <br /> Construction • Property Management- 8 Development <br /> Equal Opportunity Employer ��, <br />