4C, Earnest Money Refund to Royal Oaks Realty

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ROYAL.~OAKS . REALTY, INC. January 3, 2008 Received JAN - 7 2008 City of Arden Hills Mr. Stan Harpstead, Mayor City of Arden Hills 1245 West Highway 96 Arden Hills, MN 55112 RE: Purchase of Old City Hall site Dear Mr. Mayor: As I'm certain you know, in June, 2006, my company, Royal Oaks Realty, Inc. entered into an agreement with the City of Arden Hills to purchase the old Arden Hills City Hall property located at 1245 West Highway 96. On October 10,2006, The Arden Hills City Council approved our Final Plat for development of the "Arden Hills Office Park," subject to six conditions. The letter from City Planner James Lenhoff, setting forth those conditions is attached. Exercising our rights under the Purchase Agreement, I sent a letter dated November 20, 2006 to Mayor Aplikowski and to the members of the City Council indicating that Royal Oaks Realty, Inc. was no longer interested in pursuing this development. A copy of the letter is attached. On February 8, 2007, my attorney, Ron Riach, sent a certified letter to City Adininistrator Michelle Wolfe confirming that Royal Oaks had exercised the termination clause in the Purcahse Ageement and requested the return of the earnest money ($40,000.00). As of today's date, I have not received a response and L1.e earnest money has not been returned, I am writing today to again ask that the City of Arden Hills return the earnest money that Royal Oaks Realty, Inc. as part of the purchase price for the property. Thank you. S::::~ ~_ e4; /! : ~(~sfefner, President Royal Oaks Realty, Inc. cc: Ron Riach, Esq. Jerome P. Filla, Esq. 1000 County Road E West, Suite 150. Shoreview, Minnesota 55126. (651) 483-5518. Fax (651) 483-5642 www.royaloaksrealty.com ~ ~ ft- 2..k - oS",