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MAY c 3 '229 <br /> GARRETT GROUP, LLC. <br /> • <br /> April 30, 1999 <br /> Mr. Paul T. Steinman <br /> Director of Economic Development <br /> City of Elk River <br /> 13065 Orono Parkway <br /> Post Office Box 490 <br /> Elk River, MN 55330 <br /> Re: Northstar Die Casting, LLC. <br /> Dear Mr. Steinman: <br /> Thank you for taking the time to meet with me to discuss the outstanding loan with <br /> Northstar Die Casting, LLC. As we discussed, Badger Die Casting, LLC. would be willing <br /> to pay off the balance of this loan on the following terms and conditions: <br /> • • New Loan Amount $43,065.22 <br /> • Interest Rate 4% <br /> • Loan term 7 years. <br /> • First payment date: May 15th, 1999. <br /> If this is acceptable, please have a new note drafted to reflect the name Badger Die Casting, <br /> LLC. If you have any questions, I can be reached at (414)425-2907. <br /> Very truly yours, <br /> GARRETT GROUP, LLC. <br /> J1166k <br /> Steven Whiting <br /> President <br /> SEW/ML <br /> • <br /> 200 SOUTH EXECUTIVE DRIVE • SUITE 101 • I3ROOKFIELD, WI 53005 • PHONE: (414) 789-2773 • FAX: (414) 425-0376 <br />