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Company name: Chase Michael Home/Dalbec Property Management <br />Mike Mcguiggan <br />22347 County Rd. 15 <br />Elk River, MN 55330 <br />(612)-479-1521 <br />mike_mcguiggan#yahoo.com <br />26 October 2016 <br />Attention: Michael Hecker <br />Parks and Recreation Director <br />13065 Orono Parkway <br />Elk River, MN 55330 <br />MHecker<a-ElkRiverMN.gov <br />Proposal for Pinewood Golf Course, <br />Chase Michael Homes/Dalbec Property Management, are proposing <br />four separate proposals. Proposal <br />1. In Proposal one, we would be willing to pay in one lump sum for <br />pinewood golf course in the amount of $300,000 as is. Including all <br />equipment, properties, and buildings, etc. That are involved in the <br />purchase of Pinewood Golf Course. <br />2. In Proposal two, if the city desires a payment exceeding $300,000 for <br />the course, we would accept to pay $400,000. This would be broken <br />down by a $200,000 non-interest loan from the city of Elk River with a <br />yearly payment of $25,000 on the first of April each year until the loan <br />is resolved. We would pay the remaining $200,000, if accepted, at the <br />closing of the purchase. <br />3. In Proposal three, if the city desires a payment exceeding $400,000 for <br />the course, we would accept to pay $500,000. This would be broken <br />down by a $300,000 non-interest loan from the city of Elk River with a <br />yearly payment of $25,000 on the first of April each year until the loan <br />is resolved. We would also require being exempt from property tax for <br />the next five years. We would pay the remaining $200,000, if <br />accepted, at the closing of the purchase. This would include a balloon <br />payment of the remaining balance of the non-interest loan in the tenth <br />year. <br />