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of <br />1Velr <br />July 28, 2000 <br />Mr. Jim R. Sapp <br />Indy Lube <br />6515 East 82nd Street <br />Suite 209 <br />Indianapolis, Indiana 46250 <br />RE: City of Elk River, Minnesota EDA Loan to Indy Lube <br />Dear Jim: <br />This letter is to inform you that, as of July 11, 2000, the October 1993 EDA <br />Micro Loan in the principal amount of $24,700 to Indy Lube of Elk River has <br />been repaid in full. Please feel free to contact me at (763) 441-4905 with any <br />questions. <br />Sincerely <br />Cat erine Mehelich <br />Director of Economic Development <br />Enclosure: Amortization Schedule <br />13065 Orono Parkway 9 P.O. Box 490 • Elk River. MN 55330 • TDD & Phone (612) 441-7420 6 Fax: (612) 441-7425 <br />