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;. <br />.' <br />~a~a <br />Y <br />~., <br />October 27, 1994 <br />City of North Olmsted <br />5200 Dover Center Road <br />North Olmsted, Ohio 44070 <br />Attn: Mayor Ed Boyle <br />Re: Sale of Assets of Biddulph, Inc. to the <br />City of North Olmsted <br />Dear Mayor Boyle: <br />This will confirm that it is our understanding that Parcel 10 (the rectangular <br />parcel near John Road, as described in the Deed attached hereto as Exhibit A) will not be <br />transferred at the closing. In consideration therefore, Biddulph has agreed to assist the <br />City in obtaining any necessary lot split to enable the City to record the attached Deed. <br />In connection with this arrangement, Biddulph has agreed that in the event <br />that the City is unable, after reasonable efforts with the assistance of Biddulph, to either <br />annex the property or obtain the appropriate lot split, that Biddulph will enter into a 99 <br />year lease for Parcel 10 with the city on mutually agreeable terms. The parties have also <br />agreed that tax prorations will be calculated as of the closing date of the referenced <br />transaction. Please sign this letter to acknowledge and confirm your understanding and <br />agreement with the matters set forth herein. <br />Very truly yours, <br />Biddulph, Inc. <br />Its: ~°s - .~,~c.~~,z <br />Enclosure <br />Acknowledged and Agreed <br />The City of North Olmsted <br />By: ,NItiIQ.C <br />Its: ,Q~ r- of L crw <br />