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mem <br /> BREMFR <br /> First American National Bank <br /> irjj of St. Cloud <br /> 1-) Member Bremer Financial Corporation Member FDIC <br /> August 24, 1993 <br /> William Rubin <br /> Economic Development Coordinator <br /> City of Elk River <br /> P.O. Box 490 <br /> Elk River, MN 55330 <br /> RE: Water Laboratories, Inc. / Kevin J. Kloeppner <br /> Dear Bill: <br /> First American National Bank of St. Cloud has agreed to lend Water Laboratories, Inc. and <br /> ECO-Systems Engineering, Inc. $75,000 for the purchase of an office condominium in Elk River <br /> subject to approval of an economic development loan of$15,000 and an owner's equity injection <br /> if $17,400. If the terms of the Elk River Economic Development loan would change <br /> substantially from the loan requested herein, the Bank's approval would be reconsidered. Terms <br /> • and conditions of the financing are outlined in an Authorization and Loan Agreement between <br /> the Bank and prospective borrower, which will be formalized in the near future. <br /> If you have any questions in regard to this prospect, I will welcome your call at (612) 255-7156. <br /> Thank you for your continued support of economic development and small business in the Elk <br /> River area. <br /> Sincerely, <br /> c iL?,c:l L 4l . ul la.tL/L(' 4 <br /> Lisa M. Maurer <br /> Assistant Vice President <br /> Government Guaranteed Business Loans <br /> • <br /> Downtown West Rice <br /> 1100 West St.Germain Street 4150 2nd Street South 100 East Main Street <br /> P.O.Box 847 St.Cloud,Minnesota 56301 Rice,Minnesota 56367 <br /> St.Cloud,Minnesota 56302-0847 (612)656-3300 (612)393-2600 <br /> (612)251-3300 FAX(612)656.3314 FAX(612)393-2414 <br /> FAX(612)255-7149 <br />