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VII. CONTINGENCIES: This commitment is subject to the following: <br /> <br /> 1. Satisfactory receipt of appraisal for a minimum of $905,000.00. <br /> <br />2. Satisfactory receipt of a final approvals from the City of Elk River. <br /> <br />3. Satisfactory financial information provided to the bank on the borrower <br /> and the guarantors. <br /> <br />41 Title Insurance insuring over mechanics liens with bank disbursement of funds. <br /> <br />Please sign the enclosed "copy" of this letter indicating your approval of this letter and along with <br />a check for $1,000.00 to be applied toward closing costs and return a copy in the enclosed <br />envelope by February 21, 2000. If you have any questions or points needing clarification, please <br />don't hesitate to call me. This commitment will expire in 60 days from the date of this letter. <br /> <br />Sincerely, <br /> <br />Jack E. Ellis <br />Vice President <br /> <br />F.,nc. <br /> <br />I, the undersigned, do accept this commitment. <br /> <br />Borrowers <br />R & W Enterprises LLC <br /> <br />Guarantors <br />John C. Weicht <br /> <br />Mark Rothfork <br /> <br /> <br />