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=� U�'ur-5 rn 15e June 7, 1988 City of Eagan 3830 Pilot Knob Road Eagan, MN 55122 Attn: City Clerk Re: . loth Acju_u�on IRE 330133, 330134, 330135 Dear. Sir: We understand that the City of. Eagan ("City") has entered into as of The June 7, 1988 a Development Contract (the "Agreement") with Northwestern Mutual Life Insurance Company ("NML"), a Wisconsin corporation, as the owner of the above -captioned property. Pursuant to the Agreement, we hereby agree with the City as follows: We hereby agree to pay to the City in an amount not greater than $125,924 in the nggragttof bheeimprovementsthe lor'othesigned statement that any p requirements specified under the terms of the Agreement have not been completed or met. Our obligation to make payments under this letter will expire no sooner than December 31, 1988 (the "Expiration Date"), unless sooner released by the City, but in the event that the terms of the Agreement are not fulfilled, our obligation to make payments under this letter will be automatically extended on the Expiration. Date on an annual basis until released by the City. No payments under this letter shall be required until thirty (30) days after written demand (the "Demand") therefore is received by the undersigned at 720 East Wisconsin Avenue, Milwaukee, Wisconsin, 53202, Attn: Manager, Real Estate Production. All payments due under this letter shall be received by the City within forty-five (45) days after the Demand is received by NML. Each such demand shall be accompanied by the City's certificate as to the amount and p,..rposes for which such demand is made. If prior to the thirtieth day (30th) after the Demand is received by NML, the City shall receive payment of the amount demanded, The Northwestern Mutual life Insurance Company • 720 East wisconsi-i Avenue, Milwaukee, \.lrisconsin 53202 • 414 271-1444