Estoppel Letter 10-10-2014ESTOPPEL LETTER
FOR DEVELOPMENT AGREEMENT
NHH Chanhassen Partners, LLC
7455 France Ave S, #351
Edina, MN 55435
Attn:Mr. Adam Seraphine
( "Borrower ")
Commercial Banking
Community Bank Corporation
455 Pond Promenade,
Chanhassen, MN 55317
Attn: Mr. Derek S. Naill, Vice President
( "Lender ")
Commercial Partners Title, LLC
Commercial Closing & Underwriting Counsel
200 South Sixth Street, Suite 1300
Minneapolis, MN 55402
Attn: Ms. Kristin Haskell
( "Title Company ")
Re: Estoppel Letter for Site Plan Agreement (Developer Installed Improvements),
Chanhassen Great Plains Center - Planning Case 2013 -23, Chanhassen, Minnesota
Ladies and Gentlemen:
NHH Chanhassen Partners, LLC., a Minnesota Limited Liability Company ( "Borrower "),
seeks to enter into a Credit Agreement with Community Bank Corporation, a Minnesota state
banking corporation ( "Lender "), located in Chanhassen, Carver County, Minnesota (the
"Property "). The undersigned, the City of Chanhassen, a Minnesota municipal corporation (the
"City ") acknowledges that Borrower, and Lender, as well as the Title Company listed above,
shall rely on information in this Estoppel Letter.
As of the below- referenced date, the undersigned hereby certifies the following to Lender,
Borrower, and Title Company:
1. Borrower, NHH Chanhassen Partners, LLC, a Minnesota Limited Liability Company, and
the City entered into that certain "Site Plan Agreement," dated November 25, 2013 and
recorded June 24, 2014, as Document No. A595645.
Doc# 2125722 \4
2. The Site Plan Permit is in full force and effect and has not been assigned, amended,
modified, supplemented or superseded except as noted above. All public improvements
required to be installed by Borrower and /or its predecessor(s) in interest associated with
the project are under construction as of the date of this Estoppel Letter;.
3. To the best knowledge of the City, no event has occurred which, with the giving of notice
or the passage of time or both, would result in a default by Borrower's predecessor(s) in
interest, Borrower itself, or any other party under the Site Plan Agreement.
4. This Estoppel Certificate may be relied upon by the Borrower, Lender, and Title
Company, and their respective successors and assigns.
DECLARANT: CITY OF CHANHASSEN,
a municipality organized under the laws of
the State of Minnesota
ByT
Name: aid Cjt ✓rxa�
Its:
Date: QC T- ZDI 2014
2
Doc# 2125722 \4