2000-11-08 CC - Laserfiche WebLink

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To the City Council of the City ofCenterville, Anoka County, Minnesota Attention: City Administrator RE: Amended and Restated $114,051.19 Tax Increment Revenue Note, Series 1995B The undersigned as Owner of the above-captioned note (Amended Note) hereby represents to you as follows: 1. The City previously issued to us its $114,051.19 Tax Increment Revenue Note, Series 1995B dated as of November 1, 1995 (the "Original Note"). 2. Pursuant to a resolution of the City Council approved September 13 November 8, 2000 (the "Resolution"), the City has modified the terms of the Original Note, and to that end has on this date delivered to us the Amended Note in exchange for the Original Note. We understand that the terms of the Amended Note control, and that the Original Note is cancelled, null and void. 3. We understand that the Amended Note is payable solely from and to the extent of Available Tax Increment as defined in the Amended Note, and that the City has made no warranties or representations as to the amount of Available Tax Increment or that such revenue will be sufficient to pay in full the outstanding principal and accrued interest on the Amended Note. 4 We acknowledge that no representations have been made by the City or its bond counsel, Kennedy & Graven, Chartered, as to the status of interest on the Amended Note or the Original Note for federal or state income tax purposes. 5. We have no present intent to transfer the Amended Note or any interest therein to any other party, except as collateral assignment for any loan in connection with existing or future improvements to the Property, and we acknowledge that any transfer is subject to the restrictions described in the Note. Dated: September November 15,2000 NORTHERN FOREST PRODUCT, L.L.C. By Its 518-184861 v2 CE155-7