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The Coin-Tainer f <br /> City of Elk River <br /> Economic Development Division <br /> 13065 Orono Parkway <br /> Elk River MN 55330 <br /> September 2014 <br /> Letter of Commitment from other sources of financing <br /> It is anticipated that, on or before January 1St, 2015, Coin-Tainer will enter into a Contract for Deed ("Cl)")to <br /> purchase the Building pursuant to the following terms: <br /> Purchase Price: $ 2,600,000.00 <br /> Down Payment: ($ 200,000.00) <br /> CD Amount: $ 2,400,000.00 <br /> CD Term: Five (5)years <br /> CD Interest Rate: Five &Y2 % (5.50%) <br /> CD Amortization: Twenty Five (25) years <br /> CD monthly payment: $14,738.00 <br /> CD closing date: 1/1/15 <br /> CD contingencies: <br /> 1. Receipt of"Tax Abatement" from the City of Elk River and Sherburne County in <br /> amounts satisfactory to Coin-Tainer. <br /> 2. Receipt of City of Coon Rapids Economic Development "Microloan" funds in <br /> amounts satisfactory to Coin-Tainer. <br /> 0 <br /> me Coin-Tainer Co.uc <br /> Generations oflnnovation <br /> PO.Box SSIMilaca,MN 563531p(320)983-2595 f(320)983-2087/wwrw.coin-tainer.com <br />