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• VII. CONTINGENCIES: This commitment is subject to the following: <br /> 1. Satisfactory receipt of appraisal for a minimum of$905,000.00. <br /> 2. Satisfactory receipt of a final approvals from the City of Elk River. <br /> 3. Satisfactory financial information provided to the bank on the borrower <br /> and the guarantors. <br /> 4. Title Insurance insuring over mechanics liens with bank disbursement of funds. <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 /> Sincerely, <br /> /up_ <br /> Jack E. Ellis <br /> Vice President <br /> Enc. <br /> • <br /> I, the undersigned, do accept this commitment. <br /> Borrowers <br /> R& W Enterprises LLC <br /> Guarantors <br /> John C. Weicht Mark Rothfork <br /> 110 <br />