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CLOSURE STATEMENT <br /> FOR <br />ELK RIVER TERRACE MOBILE HOME COURT ("PARK") <br /> <br />December 4 , 1997 <br /> <br />Dear Bryan Doering: <br /> <br /> This Closure Statement provides information we have gathered regarding the <br />availability, location and potential costs of replacement housing within a twenty-five (25) <br />mile radius of the Park, and relocation costs. As you know, we have sold the Park and the <br />Park will close following compliance with the terms and conditions of Minnesota Statutes <br />§ 327C.095. A copy of this Closure Statement w/Il also be submitted to the City of Elk <br />River. <br /> <br /> As previously stated, the entire Park will be converted to a mixed-use commercial <br />development and there will be no lots available and none of the Park will be operational. <br /> <br /> Attached hereto as Exhibit A, is a list we compiled of mobile home parks within <br />twenty-five (25) miles or so of the Park. There are 46 parks on the list and the range of <br />monthly rent of the listed parks is $170 to $320. The exhibit also identifies, as of today's <br />date, whether there are any available lots in the listed parks. Availability will change, so <br />you should call the parks to obtain updated information. Where available, security deposits, <br />application fees and other park charges are noted. <br /> <br /> As far as relocation costs, Bridgestone Enterprises, Inc. has given us the following <br />estimates: <br /> <br />(i) For 12' X 60' Homes: <br /> <br />a. Transportation (0-25 miles) $275.00 <br />b. Teardown $125.00 to $175.00 <br />c. Build up and sewer line <br /> installation $475.00 <br />d. Skirting $200.00 (+ materials) <br /> <br />(ii) For 14' X 70' Homes: <br /> <br />a. Transportation (0-25 miles) $300.00 <br />b. Teardown $150.00 to $200.00 <br />c. Build up and sewer line <br /> installation $500.00 <br />d. Skirting $225m (+ <br /> <br /> <br />