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0 • 1- � � ROLAND FLECK, M.D. ASHLEY. NORTH UAKOTA Sgq13 ��1 • 288-3431 March 8? 1973 City of Roseville Roseville, Minnesota Gentlemen: As you {�aW� I the �ndersigned, o�wner of ROCA TOWNHOUSES, Old Highway #8, 3085 ir� Rosevilie have replatted the property into 40 separate parcels, and the Plat shall t�e submitted for your final signature in the v�ry near fi.�ure. , ,i: ;:�; �:.;� ;, ; s ,-;; ��: xj F: .; ; :,,; Gi , ,: -� ` �: Mr. Husnick, who holds the Gontract for Deed has airea si ned �� The Ci had a dY 9 the Plat, tY pproved the Plat verbally in two separate meetings. Northland Mortgage from Minneapotis, the intermedi�r for t ` Y he lender of �`'� the first mortgage, The Provident Life Insurance Company of Philadeiphia �} was in favor of the replatting because of the very definite economic 4' � _� advantages. Under the new arrangement, the mortgage would be better I protecfied than ever before, For some unexplainabte reason, the Pro ' � �# Life Insurance Company has been hesitant to give their final cons vident ,, re plattin g, I h a v e r r� a d e a s p ecia l tri� to Philadeiphia to show them t t o t h e ; economic advantages af the change which would provide greater profit for j the investor in case of resale, and therefore, would provide r V security for the lender, and i further assured them of our segiousentenf' tons. During the conversation with the Provident L ife Insurance Com a representatives, the possibility of a foreclosure was bro�aght up, nThe Provident peopte were informed that this was such a r�emote possibili in view of my financial standing, that it would not under any circumstan s have to be considered, However, they felt they would like to have the option to be able to sell it under the original plat in case of a forectosure, in the event they would choose to do so. Again it was pointed out that this woUld be to the economic disadvantage, however, I assured them that I would approach the City of Roseville and suUmit this rather theoretical question for their consideration. ;