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Page 1 of 1 <br />Mehelich, Catherine <br />From: William Houlton [Bill@Houltonlnvestment.com] <br />Sent: Monday, June 19, 2006 3:00 PM <br />To: Mehelich, Catherine <br />Subject: Houlton Investment Co. Property for Sale <br />Hi Cathy, <br />This email is to verify the sales price of $760,000 for the two buildings on the north side of Main st in downtown <br />Elk River. The properties are 720 Main St and 716 Main St. As you know these properties are located side by <br />side to each other. Both properties are owned free and clear by Houlton Investment Co. No liens or <br />encumbrances are attached to either properties. <br />720 Main St is currently leased to O Reilly Automotive. The lease has been recently extended from September <br />30, 2006 to September 30, 2007. The lease amount for the final year will be $45,000. <br />716 Main St is currently vacant with the exception of a month to month storage arrangement for the entire 3000 <br />square foot basement, and approximately 225 square feet of storage space on the main floor. The payments are <br />made semi-annually and for a dollar amount of $7,800 per year. There is no formal agreement for the storage <br />space and thus could be terminated by either party with a 30 day notice. <br />Let me know if you require any further information. <br />Thank you for your interest. <br />Bill Houlton <br />Houlton Investment Co <br />Office: 763-241-3611 <br />Cell: 952-240-4410 <br />Bill@Houlton Investment.com <br />6/19/2006 <br />