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<br />\ <br /> <br />\ <br />lllJ~l.. III'iESTfEIIT S.E.PV_ ':(,FP <br /> <br />_ _ _ v' ~.~ .~_....'n <br /> <br />i' lit <br />. """".e......v..I~, r.<""r.t::lVT^ ~ <br /> <br />;m <br /> <br />NORTHWESTERN NATIONAL LIFE INSURANCE COMPANY <br /> <br />May 7, 1987 <br /> <br />Honoraule J:=ee Andre <br />City Hann&er <br />C1ty cf Roa~vil1e, M1nne~ota <br />2660 Civic Ctnter Drive <br />Rc..vI11c. MN 55113 <br /> <br />Dear S1r: <br /> <br />All you know, NORTHWESTERN NATIONAL LIFE I~SURAlolCE COMPANY ("~'WNLI') <br />hat been neeot1&t1ns w1.th CENIRE POINTE tNVEsmmT COOP,U,'Y ("CPIC") <br />in connect1on with I <br /> <br />(,a) The {or:lation o! $ l1~1ted partn.uh1p (the "Pare.C:rlihlp") in which <br />CPIC w111 be the Ccneral Partner and ~~~ will bt tht ~1~~t4d <br />Patner to effect th. developl:l6llt. of certain real pr-'I nty (the <br />"Real l!:ItAte") 1n RoIlCV~llc, MInne.otll, which 11 the tubj ect of II <br />certain Develop~enc Airee~nt dated February 28, 1986 between <br />THE ern 01:' ROSEVlLLE. MINnESOTA (the "City") and ePIC (the <br />"Original Agreement") j and <br /> <br />(b) The providing by ~~NL of financin~ for the act1vicles of the <br />P4rtut'uh1p cHl contemplated in the Original Agt'eelllent at; atll.cmded <br />by tne F1rst &~tndcent hereinafter referred to. <br /> <br />epIC hat delivered to ~V~L and ita ~ounoel a form cf FirAt A~.nd~nt <br />(t.he UFint A:r.endcent ") to thQ Original Agree:lent (ldent1(!ed lI' <br />MB~:802Sv:0505B7). After reviewin2 the Firat ~endmcnt. we find that <br />the Origin.l AgrecNtnt, a. a~e~dtd by the Flr.t ~end:lQnt 1~ now <br />IBt1sfaetory. Accordingly, we have instructed our counsol to cocplete <br />negotiation. with ePIC and to develop Unal docur::cntation with rupect <br />to the creat10ll of the Pat'tneuhIp and the finllnc lng thereof w1th loanll <br />frou N~~. inCluding the Co~lt~ent for $904,282.45 as described in <br />Part VII of the First A~nd~ent. <br /> <br />Ve note th4t prov1t1on h ::lade in the Hut A:::endl'l'cnt for the cncul:lbranc. <br />of 25% of the City's Property to l1en; securing the lcsna to be cadc by <br />~~'~L. In the 1nterc8t~ of expediting tnt trAn$action, ~~:~ it agrceabla <br />to ;lroceeding On th1a baaL., noe",J.thqtAnd1nt l.'WNL 1 Q Decl!."Jbe: 4, 1986 <br />letter to ~r. David 'Weir, ....h1ch. 1a hereby lo1'Hhdralo1'u. <br />