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ACKNOWLEDGEMENT OF NON-WAIVER <br />The undersigned/ Willow Properties, a Minnesota general <br />partnership ("Willow"), hereby acknowledges to the City of Orono <br />("City") the following: <br />1. Willow and City are parties to that certain Closing <br />Agreement dated September 26, 1991 whereby Willow, pursuant to <br />paragraph 2 thereof, agreed to indemnify and hold City harmless <br />from and against any loss or liability that may be incurred as <br />the result of Optionees’ interest in the Property, as such terms <br />are defined in said Closing Agreement. <br />2. In consideration of the City’s releasing the <br />■Withheld Proceeds" to Willow pursuant to paragraph 2 of said <br />Closing Agreement, Willow acknowledges that the release to <br />Willow of said Withheld Proceeds shall not constitute a waiver <br />release fay the City of any rights or remedies that the City <br />lucy have under the Closing Agreement. <br />3. Nothing contained herein shall affect any other <br />provision of said Closing Agreement, which shall remain in full <br />force and effect. <br />4. Willow acknowledges that City will be relying upon <br />the provisions hereof in order to release the Withheld Proceeds. <br />This Acknowledgement is executed as of this <br />March, 1993. <br />day of <br />WILLOW PROPERTIES, a Minnesota <br />general partners', ip <br />Wilfred D. Gagne, Partner <br />iaS8:BAF