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: •� . i � �� . PR�VIDEf�T MIJTUAL IIFE INSURANCE COMPANY OF PiiiLAOELPHiA, 4601 MARKET STREET, PHiLADELPHIA, PENNSYLVANI�> 19�01, 215 GRANITE 4-7U�0 MO�TGAGE LOAN DEPARTMENT Dr. Roland Fl�ck Ashley, North Da'�ota 58413 Dear Dr. Fleck: April 19, 1973 ROCA To�anhouse Pro ject 30$5 Old Aighway 8 R,��evill�, Minnesot:a Mr. Denton has asked me to reply to your letter af ApY�il 9 concexni�g the proposed replatting of the R�CA project. Xour letter would appear to p�ovide �ssurance of t�e security of our position as mortgagee unless it became necessary to foreclosa our mortgage. However as discussed in our meeting �rf February 20, we requested that you secure sn agree�nent from the City of Roseville . permitting us, at yaur �xpens�, to remove fram the City records the recarding of the xep].at if we so desi�ed it sameCime i.n the futura. The letter which yau enclosed from Mr. Steve Noxth, Administrative Assistant o£ the Ci�y of Roseville, purports to grant to us, should we become owners, the right to apply for replatting the p�op�rty in�o one single lot subject to the approval of the Village Council, At best this would appear to leave us at t3�e mercy of the Viliage Council, whose members may or may not be agreeable to our requea� for replatting. In our opinion �uch an arrangemenC fails short of providing us with the flexibilit,y to sell the pro�ect as a whole, or as a Condominium, in the event of a foreclosure. Under the ci,rcumstanc�es we thiz�k that we should raot join in the replatting of this property unless you can ohtain from the Village Council of the City of kosevi�le a more definite agreement in writing which will permit th� replatting of th� �raperty into a si�gle lot. J�IT : TI�kC cc � Mr. John H. Steffens 5incerely yours, � �, � �� ,��.,.d,� Jahn N. Tuszl P�Sortgage Examineg >`;