10/28/06 Voelker/Critical IssuesPage 1 of 1
Charlie Harball
From: ghgrobert@aol.com
Sent: Saturday, October 28, 2006 11:28 AM
To: Charlie Harball
Subject: HGI loan Closing
Charlie,
I need you to complete three critical issues before we can close on our loan:
1. A letter stating that a letter of credit is not needed for draws from the TIFF .
2. The parking lease needs to be amended to take affect with the closing of the Loan with our lease
payments commencing with the receipt of the certificate of occupancy. This is important since we are
using the lease land as part of our collateral with the loan.
3. The bank is still unclear on the environmental clean up because it is noted in item #8 on the PUD as a
capped item with the TIFF. The bank is requesting a letter from the city clearly identifying the cost of
the environmental work is not part of the TIFF and all costs will be paid for by the city. In addition they
want a letter of explanation on the results of the environmental clean up and where it stands todate.
Thanks
Robert Voelker
Gateway Hospitality Group
8920 Canyon Falls Blvd., Ste. 125
Twinsburg, OH 44087
(T)440-336-0853
(F)330-405-9898
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10/30/2006