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DEC 18 'q7 019:48 EAPHA GUE r S TEFFENGER P.2 <br /> ROB RT A,CUZYCHARLES M.SEYKORA <br /> BERNARDt STEFFEN it a, f''6.0 II'h M 4i wrrw i1 i l.I'Y li DANIEL D.GANTER,JR., <br />. RICHARD A.MERRILL BEVERLY K.IX)DGE <br />' DARItELL A,jENSEN GREGO V.HERRICK..... <br /> JEFFREY S.JOHNSON JAMES D.HOERT <br /> w RUSSELL H.CROW DER JOAN M.QUADE <br /> Jc>NPERI CKSON Barna Guzy & Steffen, Ltd. errM.LEPAK <br /> LAWRENCE R.JOHNSON 1ELIZABETH 4.SCHADINC <br /> D LOSS! ATTORNEYS.:T LAW WILLIAM P.HUEFNER <br /> P.MALONE ,. BRADLEY <br /> A.A. <br /> (LE SC1 <br /> ER <br /> MI EL R HURLEY 400�1 or>htcvan Financial Plaza SUSAN <br /> VIROIL C.HERRICiCMALCOLM P.TERRY <br /> HERMAN L.TALLE 200 Coon Rapids Boulevard ARISTI R.RILEY <br /> Minneapolis, MN 55433-5894 <br /> ROBERT C.H'YNES <br /> (612) 780.-8500 FAX (612) 780.1777 1935.1993 <br /> Writer's Direct Line: (612) 783-5119 <br /> December 17, 1997 <br /> 1. <br /> Mr. Tim Keefe <br /> MAS Technologies, Inc. <br /> 1408 North Star Drive <br /> Zumbrota, MN 55992 <br /> RE: Anoka/Sherburne County Capital Fund <br /> Our File No. 43020-001 <br /> Dear Mr, Keefe: "` <br /> • • Please be advised that this law firm represents the Anoka/Sherburne County Capital Fund. <br /> Roger A. Jensen has referred to us the matter of your defaults under the Convertible Debenture . <br /> dated April 5, 1997. <br /> MAS Technologies, Inc. has defaulted under Section 5(C) of the debenture by failing to relocate <br /> its administrative and marketing offices to Sherburne County, Minnesota. <br /> As a result of your default, your payment obligation became immediately due and'payable and. <br /> you were required to issue to Anoka/Sherburne County Capital Fund Warrants for the purchase <br /> of$25,000,00 worth of common stock at the price set forth in the debenture. <br /> Further,pursuant to Section 5(D)(ii), your failure to repay a principal and interest within 30 days <br /> of becoming due requires MAS Technologies, Inc. to increase the value of the Warrants to <br /> $50,000.00 with the loan remaining due and payable with interest accruing until paid in full. <br /> Demand is hereby made for you to honor your obligations under the Convertible Debenture by <br /> issuing to the Anoka/Sherburne County Capital Fund Warrants to purchase$50,000.00 worth of <br /> common stock at the pricing set forth in the Debenture, Additionally, demand is made that you <br /> immediately repay the loan of$50,000.00 plus interest therein at 10%from April 5, 1997 until <br /> paid. <br /> III <br /> .^Eq'.t: prruniry Ec:plu.,tr <br />