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RANDAi,L and GOODRICH, P.L.C. <br />ATTORNEYS AT LAW <br />2L40 FOURTH AVENUE NORTH <br />ANOKA, MINNESOTA 55303-2268 <br />GERALD M. RANDALL <br />WILLIAM K. GOODRICH <br />CLAIRE D. HELMER <br />CHRISTIAN R. PETERSON <br />January 20, 2010 <br />K & K Sharp, LLC <br />Attention: Kyle D. Sharp <br />10907- 93`d Avenue North <br />Maple Grove, MN 55369-4199 <br />VIA FAX (763) 425-6428 <br />AND U.S. MAIL <br />Re: November 20, 2006 Lease for Property at 6745 Highway IO NW <br />Ramsey, Minnesota-(tltie "Lease') " <br />Landlord: City of Ramsey <br />Tenant: K & K Sharp, LLC <br />Dear Mr. Sharp: <br />On behalf of the City of Ramsey I write you regarding the above referenced Lease. <br />The property taxes on the building which you lease at the above referenced address increased <br />from $21,619.44 in 2008 to $27,782.42 in 2009. K & K Sharp occupies 40% of the building and <br />therefore is responsible for $11,114.00 of the 2009 property tax liability. Your base rent is <br />$1,166/mo plus annual taxes of $11,114.00 - 12 = $926.00, and therefore your total rent is <br />$2,092/mo. <br />Therefore, please commence paying the $2,092/mo effective with the February 1, 2010 rent <br />payment. <br />Due to the property tax increase, you will need to catch up with the new property tax amount for <br />the rent due August 1, 2009 through January 1, 2010. This difference is $206/mo for the said six <br />month period for a total of $1,236. Please remit this amount to the City of Ramsey upon receipt <br />of this letter. <br />Please feel free to contact either myself or Sean Sullivan of the City of Ramsey if you have <br />questions regarding the above. <br />Very t y yours, <br />~. <br />liam K. Goodri <br />TELEPHONE (763) 421-5424 <br />FACSIMILE (763) 421-4213 <br />r36 ddy ~1~~~ f~Ft ~ ~ ~o~~ bgood a.anokala~~~.com <br />WKG/gb <br />cc: Sean Sullivan <br />City of Ramsey Economic Development Coordinator <br />