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SUPPLEMENTED AND RESTATED • CLOSURE STATEMENT FOR ELK RIVER TERRACE MOBILE HOME COURT ("PARK") September 24, 1996 Dear Phyllis Witte: The purpose of this letter is to supplement and restate the Closure Statement regarding closure of the Park, mailed to you on August 9, 1996. This Supplemented and Restated Closure Statement provides information we have gathered regarding the availability, location and potential costs of replacement housing within a twenty-five (25) mile radius of the Park, and relocation costs. As you know, we have sold the Park and the Park will close following compliance with the terms and conditions of Minnesota Statutes § 327C.095. A copy of this Supplemented and Restated Statement will also be submitted to the City of Elk River. As previously stated, the entire Park will be converted to a mixed-use commercial development and there will be no lots available and none of the Park will be operational. Attached hereto as Exhibit A, is a list we compiled of mobile home parks within • twenty-five (25) miles or so of the Park. There are 45 parks on the list and the range of monthly rent of the listed parks is $130 to $320. The exhibit also identifies, as of today's date, whether there are any available lots in the listed parks. Availability will change, so you should call the parks to obtain updated information. Where available, security deposits, application fees and other park charges are noted. As far as relocation costs, Winkelman Trucking has given us the following estimates: (i) For 12' X 60' Homes: a. Transportation (0-25 miles) $175.00 b. Teardown $125.00 to $175.00 c. Build up and sewer line installation $475.00 d. Skirting $200.00(+ materials) (ii) For 14' X 70' Homes: a. Transportation (0-25 miles) $200.00 b. Teardown $150.00 to $200.00 c. Build up and sewer line • installation $500.00