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<br />FROM BRIGGS AND MORGAN ST, PAUL 612 223 6645 <br /> <br />(THUI ; \, 10' 9214: 3D /ST, \ 4: 38// NO, 33600 ¡ ~)-188 P, '2 <br /> <br />LAW OFFICES <br />BRIGGS AND MORGAN <br /> <br />PRO:t"ESSIO~"'L A$$OCIATIO:N' <br /> <br />3~00 PIRST NATIOXAL B.AXK BUILDING <br /> <br />SAINT PAUL, MI:t."1'E50TA 00101 <br /> <br />.~;¡.£PHO~£ (@t~1 223, ðßQO <br />FACSIMILE IG1~1 ~~3- (14.00 <br /> <br />"""RITER'$ DIRECT :OU,;¡" :t't..-,.ø:Ji ¡¡:ø <br /> <br />November 19, 1992 <br /> <br />MI!>.~E.A.POl.IS OFFICE <br />2400 II) $ C!1.~"TER <br />MI}."}:'UPQUS. !tI1>-'"SESOTA ~e40!1- <br />'r¡:;L~I'I:IO~t <Ol!",:' 0.:)4' 6400 <br />FACSIMILE It!I21 :J34'8t!!!O <br /> <br />(612) 223-6564 <br /> <br />VIA MESSENGER <br /> <br />Mr. Harry D. McPeak <br />Assistant County Attorney <br />Ramsey County Attorneis Office <br />Suite 400 <br />Lowry Professional Building <br />350 St. Peter Street <br />Saint Paul, Minnesota 55102 <br /> <br />Re: City or Roseville . Roseville Local Development <br />Corporation - Home Loan to Calibre Ridge Limited ParlnershiR <br /> <br />Dear Mr. McPeak: <br /> <br />Yesterday, in connection with the above· referenced loan, Rick Jopke of the City of <br />Rosevil1e faxed to me a copy of the proposed Agreement between Ramsey County and the <br />Roseville Local Development Corporation regarding the above-referenced Home loan. I <br />have not had an opportunity to discuss the loan with Craig Waldron, but I have reviewed <br />the proposed Agreement and have a number of concerns. A majority of my concerns relate <br />to the proposed Agreement's failure to distinguish between obligations of the Roseville Local <br />Development Corporation and obligations of Ca1ibre Ridge Limited Partnership. I believe <br />there are several instances in which the Agreement incorrectly places obligations directly on <br />the RLDC where the Agreement should! instead! merely obUgate the RLDC to impose those <br />obligations on Calibre Ridge Limited Partnership in its Loan Agreement, Note and <br />Mortgage. <br /> <br />For example, Section 10 on Page 14, as currently drafted, imposes liability on the <br />Roseville Local Development Corporation if the Partnership's Leases with tenants do not <br />contain certain provisions. The RLDC can, in its Loan Agreement, obligate Calibre to <br />include certain provisions in its Lease, and the RLDC can agree that if Calibre defaults <br />under the Loan Agreement the RLDC will consult with the County regarding the <br />enforcement of remedies under the Loan Agreement, Note and Mortgage and wjJl surrender <br />