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

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~ ~~HILLS August 28, 2007 Mr. John Kelly U.S. General Services Administration Office of Property Disposal Thomas P. O'Neill, Jr. Federal Building 10 Causeway Street, Room 925 Boston, MA 02222 Re: Twin Cities Army Ammunition Plant Dear Mr. Kelly: This confirms our agreement in Minneapolis on May 31,2007 and during a subsequent conference call on August 14, 2007, to create a Sixth Amendment to the Offer to Purchase. The last sentence in subparagraph (e) under paragraph 5 of the Fifth Amendment states that "if by August 31,2007, the Purchaser and the Government have not reached agreement on the Purchase Price Credit and all of the terms of the Financial Assurance, then the Purchaser has the right to rescind this Offer, whether before or after the Government has accepted the Offer, and the Government shall return any earnest money paid up until the date of rescission." During our conference call on August 14, 2007, we agreed that the August 31, 2007 date should be extended to February 1, 2008. Therefore, I propose the following Sixth Amendment to the Offer to Purchase: 1. Subparagraph (e) under paragraph 5 is amended by changing the last sentence to read as follows: "Also, if by February 1, 2008, the Purchaser and the Government have not reached agreement on the Purchase Price Credit and all of the terms of the Financial Assurance, then the Purchaser has the right to rescind this Offer, whether before or after the Government has accepted the Offer, and the Government shall return any earnest money paid up until the date of rescission. " 2. All other terms and conditions of the Offer to Purchase as amended by the first five amendments, except those amended or clarified by this letter, shall remain in full force and effect." City of Arden Hills . 1245 West Highway 96 . Arden Hills, l\1N . 55l12-5743 Phone 651.792.7800 . Fax 651.634.5l37 . www.ci.arden-hills.mn.us