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<br />BRIGGS AND MORGAN <br /> <br />2200 FIRST NATIONAL BANK BUILDING <br />332 MINNESOTA STREET <br />SAINT PAUL, MINNESOTA 55101 <br />TELEPHONE (612) 223-6600 <br />FACSIMILE (612) 223-6450 <br /> <br />PROFESSIONAL ASSOCIATION <br /> <br />WRITER'S DIRECT DIAL <br /> <br />(612) 223-6626 <br /> <br />WRITER'S E-MAIL <br /> <br />November 25, 1997 <br /> <br />steton@email.briggs.com <br /> <br />VIA FACSIMILE <br /> <br />Mr. Steve Sarkozy <br />City Manager <br />City of Roseville <br />2660 Civic Center Drive <br />Roseville, Minnesota 55113-1899 <br /> <br />Re: <br /> <br /> <br />/~~ <br /> <br />a e <br /> <br />Dear Steve: <br /> <br />Ed Burrell has sent me copies of the above, and I have discussed them and <br />the relevant portions of the Development Agreement with both Ed and Dennis Welsch. <br /> <br />Under the Development Agreement and the facts as City staff understand them, <br />the Developer is entitled to have the Certificate of Completion executed by the City. <br />You and the Mayor should do so. <br /> <br />Under the Development Agreement and the facts as City staff understand them, <br />the Developer is entitled to have the Partial Release of Mortaaae executed by the City <br />upon payment of sums (the amount of which Ed Burrell is having an outside auditor <br />verify) to repay the Pro Rata Share of City Advances, and 40% of any Net Cash Flow <br />from the Phase. When the payment is received, you and the Mayor should sign the <br />Partial Release of Mortgage. <br /> <br />Signing these is within the delegation to the City Manager in the Development <br />Agreement. Though under the Development Agreement you mav sign it, you could <br />instead choose (it is up to you and the Mayor) to run it by the City Council first. <br /> <br />Please call if you have any questions or comments. <br /> <br />cc via mail: Mr. Ed Burrell <br />Mr. Dennis Welsch <br />Mr. Dennis Buratti <br /> <br />Very truly yours, <br /> <br />~~-;;r-&v <br />Tony St'emberger r~ <br /> <br />370692,1 <br /> <br />MINNEAPOLIS OFFICE. IDS CENTER. WWWBRIGGS.COM <br />MEMBER - LEX MUNDI, A GLOBAL ASSOCIATION OF INDEPENDENT LAW FIRMS <br />