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<br />01/05/98 113:47 <br /> <br />RYAN COMPANIES ~ 51249132931 <br /> <br />NO.545 P002/0e12 <br /> <br />R)'on Comp:uries US, Inc- <br /> <br />~YAN <br /> <br />70011,[1.,";11,,,,,,,1 C,'n11"l' <br />~)(]O ;';'>(-"'11.1 <,h,'nllc Snuth <br />Minn<::.1po!is, :.]K" 5540Z-.3.J~7 <br />6 I :1'3Jfi-1 :;00 1'UI1,ur.L!I:- <br />6121:1.:3; .555 ~ f.,~ <br /> <br />liuild;'~g {.osli/lg I:<claliOllships <br /> <br />January 5, 1998 <br /> <br />City of Roseville <br />2660 Civic Center Drive <br />Rosevi.lle, MN 55113 <br />Attn: Steven R. Sarkozy, City Manager <br /> <br />VIA FACSIMILE & MAIL <br />(490-2931) <br /> <br />RE: LOT 3, BLOCK 2, CENTRE POINTE BUSINESS PARK <br /> <br />Gentlemen: <br /> <br />Pursuant to Section 7.5(B) of the Amended and Restated Development Agreement between the <br />City of Roseville) Minnesota and Ryan Twin Lakes Limited parmership, we hereby certify to <br />you that the value of the part of the Redevelopment Property which will remain subject to the <br />City Mortgages after the release of the above described lot therein will be at least equal to the <br />outstanding balances of the Developer Notes. <br /> <br />Sintie ely, <br /> <br />P<I.\\A (~... <br /> <br />Kent _ Carlson <br />Vice President <br /> <br />,.::.~~ <br /> <br />cc: Tony Sternberger, Esq. (via fax: 223-6450) <br /> <br />~f)~ <br />~lY~ <br />~jY <br />~ <br /> <br /> <br />'\1.P.(:\D~II\r_F.TTF.IlSI9.g I 0 I.DOCM!<' <br /> <br />I'liu'! .11110 u",;'dt'd I~;!pt,<r e <br /> <br />'.._,...~~..- <br /> <br />f)....I.~I) HILi!" . Rl'al E,LLtt' DC\'L']opm(;n! . l'roPf'rtl' \l.lI1a~~I>1,'I1! <br />