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Family Owned Since 1885 <br />SEC ~ 3 ~00~ <br />OF ELK RIVER <br />Member FDIC <br />MAIN STREET OFFICE • 630 Main Street • Elk River, MN 55330 • (763) 441-1000 <br />December 21, 2005 <br />Catherine Mehelich <br />Director of Economic Development <br />1306 Orono Parkway <br />Elk River, MN 55330 <br />RE: Tax abatement application <br />Dear Cathy, <br />The Bank of Elk River pledges to complete the proposed addition within one year of <br />groundbreaking. <br />Z'he project architect says this is a realistic schedule unless there are major material shortages. <br />Please call me at 241-8528 if you have any questions. <br />Sincerely, <br />James M. Simpson <br />President <br />MAIN STREET • SCHOOL STREET • OTSEGO • ZIMMERMAN <br />ELK RIVER WAL-MART • MAPLE GROVE WAL-MART <br />www.TheBankofElkRiver.com <br />