2005-12-20 Legal Plat Documents InstructionsMichael C. Couri*
Andrew J. MacArthur
Robert T. Ruppe**
*Also licensed in Illinois
**Also licensed in Califomia
December 20, 2005
COURT, AMCARTHUR &
RUPPE, P. L.L. P.
Attorneys at Law
705 Central Avenue East
PO Box 369
St. Michael, MN 55376-0369
(763) 497-I930
(763) 497-2599 (FAX)
courimacarthur@earthlink. net
VIA FACSIMILE-651-556-4551
Mr. Larry Mountain
Land Title, Inc.
1900 Silver Lake Road
Suite 200
New Brighton, MN 55112
Re: City of Albertville; Towne Lakes 6th Addition Plat.
Dear Mr. Mountain:
David R. Wendorf
Kristen H. Carr
Alison K. Marwitz
This letter will confirm the order in which documents are to be recorded relating to
the filing of the Towne Lakes 6t' Addition Plat and Developer's Agreement between the
City of Albertville and Contractor Property Developers Company. The order of
recording should be as follows:
1. Towne Lakes 61h Addition Plat.
2. Towne Lakes 6th Addition Developer's Agreement.
3. Subordination Agreement executed by Alliance Bank relating to that certain
$3,058,400.00 mortgage executed by Contractor Property Developers Company in
favor of Alliance Bank and filed as document number 853512.
4. Subordination Agreement executed by Alliance Bank relating to that certain
$1,000,000.00 mortgage executed by Contractor Property Developers Company in
favor of Alliance Bank and filed as document number 945693.
5. Any new mortgages or other encumbrances.
The plat and developer's agreement should be recorded ahead of any existing or future
mortgages or other liens. It is my understanding from you that the mortgage executed by
Contractor Property Developers Company in favor of Scherer Brothers Lumber recorded
as document number 791328 will be released from all of the property that will be platted
as Towne Lakes 6"' Addition prior to the filing of the plat. If this is not the case, the plat
and Developer's Agreement are not to be recorded, but must be returned to the City until
a mortgage subordination for this mortgage is provided.
Mr. Larry Mountain
December 20, 2005
Page 2 of 2
This letter will also confirm that no Developer's Agreement is required of Albertville
Phase III, LLC as the portion of the plat being platted by this company represents a replat
of Outlot E of Towne Lakes 5th Addition as Outlot A in Towne Lakes Oh Addition with
no change in the status of the lot. No mortgage subordination will be needed for this
property.
Please note that you will need to pay all applicable fees prior to the release of the plat,
including $144,474.00 related to improvements to 70th Street, an administrative fee of
$14,328.00, and sewer and water trunk line fees. The City may require that all expenses
incurred by the City in processing this plat be brought current prior to the release of the
plat. I suggest you contact Tina Lannes at the City to determine if any balance remains
outstanding. A letter of credit will also need to be provided to the City prior to the
release of the plat. The letter of credit must be in the amount of $646,808.00, unless the
City has authorized a smaller letter of credit (I am not aware that this has occurred yet, but
you may want to check with Bridget Miller or Tina Lannes at the City).
Please contact me when these documents have been recorded as directed in this letter.
If you are unable to record the documents as detailed here, please call me before
recording any documents related to this property. Thank you.
Sincerely,
Michael C. Couri
Couri, MacArthur & Ruppe, P.L.L.P.
Cc: Larry Kruse
Bridget Miller