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<br />LAW OFFICE <br />~ef:E.'l.u>n, !J(nu..tion, 9Cynn & c:Hetland <br /> <br />FRED N. PETERSON. JR. <br />JAMES E. KNUTSON <br />JOSEPH E. FLYNN <br />PAUL W. HETLAND <br />ROBERT A. HUGHES <br />PAUL C. RATWIK <br />JOHN M ROSZAK <br />THOMAS M. SIPKINS <br />THOMAS S. DEANS <br />PATRICIA A. MALONEY <br />FREDERIC W. KNAAK <br />FRANCES H. GRAHAM <br />DAVID S. BARTEL <br />SUSAN J. SCHOELL <br />PATRICK J. FLYNN <br /> <br />PROFESSIONAL ASSOCIATION <br />345 CEDAR BUILDING - SUITE 80C <br />ST. PAUL. MINNESOTA 55101 <br />612-222-2811 <br /> <br />JOHN M. MAAS. PH.D. <br />CONSULTANT <br /> <br />THOMAS N. AND MARILYN O. JONES PROJECT <br /> <br />Preliminary Information <br /> <br />1. The Applicants: <br /> <br />Thomas N. Jones and Marilyn O. Jones, husband and wife, <br />reside in Excelsior, Minnesota. The Applicants are President <br />and Vice-President, respectively, of the Healy-Ruff Company. <br /> <br />The Applicants' attorneys are Kaplan, Strangis and <br />Kaplan, Minneapolis. Its accountants are Lurie, Rochlin and <br />Cook, Minneapolis. <br /> <br />2. The Tenant: <br /> <br />The Healy-Ruff Company, a Minnesota Corporation, will <br />lease the project from the Applicants. The Healy-Ruff Company <br />is presently located at 2485 North Fairview Avenue in Roseville, <br />Minnesota. It is engaged in the manufacture of electrical and <br />electronic pump control systems. It anticipates approximate <br />1983 annual sales of $3,100,000 and expects to increase its <br />sales volume by 25% annually. It presently employs approxi- <br />mately 50 persons. <br /> <br />The tenant was acquired by Mr. Jones in 1969 at which <br />time it was insolvent. It was reorganized pursuant to Chapter <br />XI at the time of the acquisition. <br /> <br />3. The Project: <br /> <br />From the proceeds of the industrial revenue financing, <br />the Applicants propose to acquire land for, to construct, to <br />