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@ IVERSON REUVERS ATTORNEYS AT LAW May 10, 2007 The Honorable Mayor and City Council City of Roseville 2660 Civic Center Dr. Roseville, MN 55113-1815 RE: Roseville Twin Lakes, LLC v. City of Roseville Dear Mayor and City Council Members: The purpose of this letter is to provide you with a brief update on the Roseville Twin Lakes, LLC litigation. As you know, the Redeveloper initiated a lawsuit against the City of Roseville to challenge its obligations under the Redevelopment Contract and to prevent the City from drawing on the Letter of Credit. The Redeveloper was unsuccessful in preventing the City from securing the Letter of Credit. As a result, the City currently has the proceeds from the Letter of Credit, totaling $827,650. Because of the decision of the Minnesota Court of Appeals in the Friends of Twin Lakes litigation, the Redeveloper claims the Redevelopment Contract is now void and it is entitled to a return of all of the proceeds from the letter of credit. We obviously disagree with the Redeveloper's position and have scheduled a Motion for Summary Judgment before Judge David C. Higgs for June 12,2007. The Court will ultimately determine the parties' respective obligations under the Redevelopment Contract. The Court will have up to 90 days to issue a decision following the hearing. I will keep you advised. In the meantime, please let me know if you have any questions or concerns. Best regards, IVERSON REUVERS p~~C) K- Paul D. Reuvers IVERSON REUVERS, LiC I 9321 ENSIGN AVENUE SOUTH I BLOOMINGTON, MN 55438 I 952.548.7200 I FAX: 952.548.7210 ( ,I PAUL D. REUVERS DIRECT: 952.548.7205 PREUVERS@IVERSONLAW.COM JON K. IVERSON PAUL D. REUVERS JEFF M. ZALASKY JASON J. KUBOUSHEK PAMELA).F. WHITMORE JASON M. HIVELEY SUSAN M. TINDAL JEFFREY A. EGGE AMBER S. LEE WWW.IVERSONLAW.COM