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<br />ur--------- <br /> <br />rei ~\j <br />( ); <br />~li< <br /> <br />**Item #3.15** <br /> <br /> <br />River <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />Mayor & City Council <br />Pat K1aers, City ~~~or <br />June 14, 1999 ~ <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: Boys and Girls Club Mortgagee <br />Agreement <br /> <br />The city has entered into a lease with the Boys and Girls Club. This lease <br />allows the Boys and Girls Club to use part of Lions Park for their <br />construction and operation of a facility in this park. Consistent with the <br />lease, the attached Mortgagee Agreement as prepared by Doherty Rumble & <br />Butler finalizes some terms of our understanding. All of the terms in this <br />Agreement are consistent with the previously approved lease. The city, First <br />National Bank, and the Boys and Girls Club are all signees of the Mortgagee <br />. Agreement. <br /> <br />Recommendation <br /> <br />It is recommended that the City Council approve the attached Mortgagee <br />Agreement and authorize its execution. <br /> <br />. <br /> <br />13065 Orono Parkway · P.O. Box 490. Elk River, MN 55330. TDD & Phone: (612) 441-7420. Fax: (612) 441-7425 <br />