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Assessments: Seller sliall pay all levied,pending and/or deferred special assessnleots at Closing, <br />Assignment of <br />Purchase <br />Agreement:Prior to Closing, the Purchaser irwy assign the obligations of the purchase agreement to <br />in affiliate of Purchaser provided the assignee has sufficient FinancO ability to Close on <br />the Purchase. <br />Brokerage: No brokers are involved with this transaction. <br />This letter is intended to be an expression of interest by the partiessignjug,or accepting this letter to the transaction <br />herein. Notwithstanding anything to the contrary', in no event shall this letter be deemed to be or constifine a <br />binding contract agreement or other legally enforceable obligation between said persons or entities as to such <br />matters, Upon signing of this letter agreement, the parties agree to negotiate the terms of a binding purchase <br />agreement, <br />Sincerely, <br />Greg Hayes <br />VP Real Estate& DevOopment <br />IPuirchaser: Seller: <br />Ebert Constniction City of Elk River <br />By: By: <br />Its: Its:: <br />Date: Date:! <br />ME=