08-27-07 Item 7B, TCAAP Purchase Offer

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May 4, 2007 Re: 'Twin CitiesArrny Ammunition Plant Dear Mr. Kelly; Th1sconfirms our agreement to create' a Fifth Amendment to the Offer to Purchase, The Fourth Amendment;to the Offer to Purchase extended to Aprif 30, 2007 tlie "date by which the parties must agree on the conceptual terms for the pe OJ-financial guarantee' t 9:Qu Penditur ssary to satisfy. the Arm bligcovenantparcels llnderthe . Federal t.. . the parties to agree on the a fthe Purchase nd the terms of the financial 8ssurance'by August 3 , ernall message from Mr, B.iIJ O'Donnell to Ms., Sara Peterson, the Army notifiedR atit is unable to agree to RRLO's p~Oposed financial assurance mechanism by the April 30;2007 deadline due to an issue with the Army's authority to spend or direct spendil')g of money from outside sources. . .: , . -' ^"'."'. . ,- '. Therefore,-! propose the following Fifth Amendment to the Offer to Purchase: ~ ..... . . . ::, "".:. . " ", . . SubparagraPh (e) under paragraph 5is amended to read as follows: "The dale Oy which the parties must agree on the conceptual terms for. the performance o~ financialyuarantee bond in an amount equal to the estim,ated expenditure necessary to satisfy theArmy's soil. remediation obllgations.on th.e deferred covenant parcels under the Federal Facilities Agreement is extended from April 30, 2007 to June 15, 200 Also, if by August 31. 2007. the Purchaser and the Government ,have not reached agrme on the PurChase Price Credit and all of the terms ofthe . Financial Assl,lra Purchaser has the right to rescind this Offer, whether before or after the overnment h.8 ted t.heOffer, and the Government shall return any earnest moneypald-u e date of rescission" 2. "All other terms and conditions of the Offer to Purchase as amended'by the first four amendments, except those amended and clarified by this letter. shall remain in full force and effect."