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Dear City of Pequot Lakes, <br />April 21, 2023 <br />This letter of intent represents that Level Contracting, LLC is requesting to enter in the negotiation to purchase <br />property from the City of Pequot Lakes within the Heart of the Good Life. <br />Purchase Terms: After this Letter of Intent has been accepted by City of Pequot Lakes, a formal agreement may be <br />constructed to the benefit of the parties involved. <br />Type of Development: Hospitality, Level Contracting, LLC has secured an agreement with Wyndham Hotel & <br />Resorts to develop a hotel on the North end along Hwy 371 within the Heart of the Good Life. The preliminary size <br />and <br />location of the site will be submitted to the City by Widseth. <br />Conceptual Design: Level Contracting, LLC has retained Widseth for all Civil, Architectural, Design and <br />Engineering for this project. Widseth will be submitting our preliminary design and concept of this project to the <br />City. <br />Acceptance: After this Letter of Intent has been accepted by City of Pequot Lakes, a formal agreement may be <br />constructed to the benefit of the parties involved. <br />Thank you, <br />/foensen, Chief Manager <br />