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�6uxtb 1. 1#4mn �1afv offirt.4, *.A. <br />May 31, 1988- <br />HOPKINS OFFICE CENTER <br />33 TENTH AVENUE SOUTH SECOND FLOOR <br />HOPKINS, MN 55343 <br />(612) 933-5151 <br />Frederick C. White <br />14195 Paul Drive <br />Rogers, Mn. 55374 <br />Re: Donald Kempf, et al v. Dr-vid L. White, et al <br />Our File: 85-959 <br />Dear Fred: <br />(D1 <br />14 <br />In accordance with our conversation, I am providing you with the elements <br />of the settlement agreement that was entered into the court record before <br />Judge James Rogers on May 9th of 1988. The following are the terms of <br />the agreement: <br />I. . The Whites would provide an approved plat of the property within <br />six months from the date of the agreement. <br />2. The Whites would convev a lot on which the house was situated <br />that contained a minimum of three acres and approved by the City. <br />3. The purchase price for the parcel described above would be <br />$85,000.00. The terms would be $1,000.00 earnest money, which has <br />been paid; $9,000.00 at closing; and a Contract for Deed bearing <br />interest at the rate of 10% per annum, due and payable in full four <br />years after the date of closing. Payments on the contract would be <br />at the rate if $E50.61V per month. <br />4. The Kempfs would pay their pro rats share of taxes on the lot <br />transferred to them, and the Whites would pay the differential <br />between the homestead and non -homestead taxes. The Kempfs would <br />apply for homestead immediately after closing. <br />If YOU need further verification of this agreement, please have a <br />repro tative of the City contact me. <br />1 have _ closed a statement with regard to attorney fees, as a separate <br />attachment. This statement is in accordance with our conversation. <br />Please -call if there is any additional question. <br />Yours very uly,'' <br />RONALD J. HNSOIyl' LAW OFFT'CES P.A. <br />nald J J o h neon <br />RJJ:aej (/ <br />encl. <br />