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AS NN-1cDELLI-N <br /> ATTORNEYS AT LAw <br /> 30849 FixsT STREET <br /> PAUL.J.SANDELIN RO.Box 298 TELEPHONE(218)568-8481 <br /> STACY M.JOHNSON PEQuoT LAKES,MINNESOTA 56472 FAX(218)568-8444 <br /> www.Lakesarealaw.com <br /> January 23, 2008 <br /> City of Pequot Lakes <br /> Attn: Sandy Peine, City Clerk <br /> 4638 County Road 11 <br /> Pequot Lakes, MN 56472 <br /> Re: City of Pequot Lakes/City Hall Property <br /> Our File No. 25000.070 <br /> Dear Sandy: <br /> Enclosed for your review please find a Memorandum of Lease for the City Hall property. The <br /> Memorandum of Lease should be placed on the City Council Agenda for approval and <br /> authorization for signature by the Mayor and yourself. The purpose of the Memorandum of <br /> Lease is to provide recorded notice of the Lease Agreement with American National Bank. The <br /> Memorandum does not provide all of the details of the Lease Agreement as that is not necessary <br /> but is recorded to provide notice of the City's interest in the real estate. After the Memorandum <br /> of Lease has been signed by the City and American National Bank please return the original to <br /> my office and I will record the Memorandum of Lease with the County Recorder. If you have <br /> any questions please let me know. By copy of this letter I am providing a copy of the <br /> Memorandum of Lease to Pat Smith. Thank you. <br /> Very tru Cesare7alawcom <br /> c <br /> P e <br /> sandelin la <br /> PJS:jdf <br /> Enclosures: as noted <br /> cc: Pat Smith w/enclosure <br /> S:\LAW\TEXT\25000.070\Peine.itrl.doc <br />