Book# 79 01-13-98 -4-28-98 98-001 98-099

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NB FRRK RECfFSC TEL :612-638-2120 Sep 08 ' 95 16 :22 ho .006 (ILJ %Ii0h0Ai: (01�7t♦1-y'�b/ Per (M!)7it 7t314 — — REAM WO W �— AD$t•It"brand fax transmittal memo 7671 tot elPaprs September 7, 2995 ---. ca .p.c e� Director of parks and Recreati .~", Maurice Anderson �---- 400 10th 'twit N. W.New Brighten, Minnesota 55112 Deer Morti., After our meeting, I au reducing our discussion to writing for your final consideration. The main consideration is the replacement of the existing tennis courts to the Worth Zest corner of the Perk area. It is ay understanding that the City has determined that they do not want the terms courts relocated in that location, and would accept payment in lieu of the replacement of the tennis courts• Based on this I an proposing the following: • 1) east of the tennis courts; Agree that the cost to construct two tennis courts would be $40,000.00 compete. The site work that has been completed on the site that was Proposed has a value of $5,000.00. An adjusted payment for the tennis courts would be $35,000.00 UTINATB COST OF TENNIS COURTS $40,000.00 SITE WORE COMPLETED TO DATE ($5,000.00) ADJUSTED TEIOIIS COURT PAYMENT $35,000.00 A. Payment skull be made in full no later then April 13, 1996. B. Untill payment is made in full, there shall he a letter of credit in favor of The City of New Brighton in the Lull amount of $35,000. 2) The Iced of conveyance on the park property shell be given upon the signing of the payment agreement. 3) It is agreed that w may grade the park property located immediately to the west of the construction site accords to the site plan submitted to the ait . When the grading is completed we shall restore the site with grass and landscaping to allow mowing and care by the city.