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Full title: ADDITIONAL ADEQUATE ASSURANCE REQUEST FROM ROCHELLE MUNICIPAL UTILITIES filed by Interested Party Rochelle Municipal Utilities re: 51 Order on miscellaneous motion (first day motion). (Barbie MNBS) (Entered: 02/04/2021)

Document posted on Feb 3, 2021 in the bankruptcy, 4 pages and 1 tables.

List of Tables

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UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MINNESOTA In re: Tea Olive I, LLC d/b/a Stock+Field, Case No.: 21-30037 Chapter 11 Case Debtor. ADDITIONAL ADEQUATE ASSURANCE REQUEST FROM ROCHELLE MUNICIPAL UTILITIES Pursuant to the Order Granting Expedited Relief and Establishing Procedures Regarding Adequate Assurance of Future Performance for Utilities (Docket No. 51) (the “Utility Order”) and the underlying Motion, Rochelle Municipal Utilities (“RMU”) submits this request for additional adequate assurance pursuant to 11 U.S.C. § 366. This request is based on the following information. Attached to this Request is a spreadsheet identifying the prepetition account numbers reflecting the Debtor’s obligations to RMU, address of the service location for RMU that are impacted by the Debtor’s filing, and twelve month of payment histories by way of final balances for each account that is currently known to RMU (SeeExhibit A). Over the previous twelve-month period, Debtor failed to timely pay its utility bill five out of twelve months (February 2020, July 2020, September 2020, November 2020, and December 2020). Debtor has not provided a security deposit to RMU for its account, although RMU is entitled to demand such a deposit pursuant to Section 98-3 of the Rochelle Municipal Code.1 As explained below, RMU finds the Adequate Assurance Deposit as described in the 1Seehttps://library.municode.com/il/rochelle/codes/code_of_ordinances?nodeId=CH98UT_ARTIINGE_S98-3SEDE.

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Utility Order and underlying Motion insufficient and hereby submits a written request for additional assurance pursuant to the procedures outlined in the Utility Order in the amount of $10,212.62, which equals a two-month deposit. RMU also requests that it hold the deposit, rather than having the deposit held in a segregated account maintained by the Debtor. By way of explanation of the request, RMU objects to the Debtor’s proposed deposit in the amount equal to approximately a half month of the Debtor’s average cost of utility services delivered to a Utility upon timely request because under RMU’s billing cycles, which are codified in Section 98-6 the Rochelle Municipal Code, the Debtor receives approximately one month of utility goods and/or services before RMU issues a bill for such charges. 2 Once a bill is issued, the Debtor has twenty-one (21) days to pay the applicable bill. If the Debtor fails to timely pay the bill, a past due notice is issued and, in most instances, a late fee may be subsequently imposed on the account. If Debtor fails to timely pay the bill, a late payment charge is applicable thereafter. If the Debtor fails to pay the bill within six calendar days of the due date, RMU may issue a disconnect notice, and terminate service five days after issuance of the disconnect notice. Therefore, under RMU’s billing cycles, the Debtor could receive at least two months of unpaid charges before RMU could discontinue goods and/or services. Further, RMU objects to the Debtor’s Adequate Assurance Deposit and the entry of the Utility Order because it was entered on an ex parte basis without the Court affording RMU proper and timely notice. Moreover, RMU did not have an opportunity to either object to the underling Motion or to submit an Additional Assurance Request before the entry of the Utility Order. As a result, the Debtor has not followed the requirements of 11 U.S.C. § 366 by providing adequate assurance of payment that is accepted by the Utility. 2See Section 98-6 of the Rochelle Municipal Code, https://library.municode.com/il/rochelle/codes/code_of_ordinances?nodeId=CH98UT_ARTIINGE_S98-6PABI.

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For the above reasons, RMU requests that the Debtor consent and pay the Adequate Assurance Deposit. If agreed, RMU can provide specific payment instructions for the deposit. Dated: February 4, 2021 Respectfully submitted, By: /s/ Jason M. Reed Jason M. Reed (#0395877) MASLON LLP 3300 Wells Fargo Center 90 South Seventh Street Minneapolis, MN 55402-4140 Telephone: (612) 672-8301 E-mail: Jason.reed@maslon.com and /s/Dominick L. Lanzito Dominick L. Lanzito (ARDC 6277856) PETERSON, JOHNSON & MURRAY CHICAGO, LLC. 200 West Adams Street, Suite 2125 Chicago, IL 60606 P: (312) 782-7150 F: (312) 896-9318 E-mail: dlanzito@pjmchicago.com ATTORNEYS FOR ROCHELLE MUNICIPAL UTILITIES.

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EXHIBIT A
Table 1 on page 4. Back to List of Tables
Rochelle Municipal Utilities Customer Inquiry - Compare None None None 1/25/202
48945, STOCK & FIELD, 1240 N 7TH ST None None None Page: 1
02/10/2021 01/13/2021 12/11/2020 11/13/2020 10/13/2020 09/14/2020 08/12/2020 07/14/2020 06/12/2020 05/13/2020 04/13/2020 03/11/2020 02/12/2020
Electric Energy -kWh 0 2,676.66 2,844.42 2,952.6 5 2,759.82 3,515.76 3,480.12 3,800.88 2,931.26 2,379.12 3,080.95 2,506.02 4,798.80
Electric Energy -kWh usage 0 39,480 39,240 40,92 0 38,040 50,400 49,800 55,200 40,560 32,640 43,080 34,440 72,000
Electric Cust Chg 0 115 100 10 0 100 100 100 100 100 100 100 100 100
Small GS Demand 0 1,312.38 1,203.91 1,203.9 1 1,203.91 1,504.89 1,504.89 1,500.90 1,458.54 1,357.04 1,357.04 1,357.04 1,357.04
Power Cost Adjustmnt 0 0 0 0 0 0 0 0 0 0 0 0 0
Water - cubic feet 0 108.49 123.31 86.2 6 81.51 85.72 80.92 137.75 117.54 72.71 56.5 47.99 81.3
Water - cubic feet usage 0 2,577 2,929 2,04 9 1,936 2,036 1,922 3,272 2,792 1,727 1,342 1,140 1,931
Water Cust Chg 0 9.35 9.35 9.3 5 9.35 9.35 9.35 9.35 9.35 9.35 9.35 9.35 9.35
Water Reclamation 0 124.47 141.47 98.9 7 93.51 98.34 92.83 158.04 134.85 83.41 64.82 55.06 93.27
Water Rec Cust Chg 0 8.05 8.05 8.0 5 8.05 8.05 8.05 8.05 8.05 8.05 8.05 8.05 8.05
ELECTRIC INCENTIVE - Lighting 0 0 0 0 0 0 0 0 0 0 0 0 0
State Utility Tax 0 126.34 125.57 130.9 4 121.73 161.28 159.36 176.64 129.79 104.45 137.86 110.21 230.4
City Tax 0 52.17 51.86 54.0 7 50.27 66.4 65.8 70.43 53.6 43.14 56.93 45.52 84.54
FIRE PROTECTION 0 14.69 14.69 14.6 9 14.69 14.69 14.69 14.69 14.69 14.69 14.69 14.69 14.69
RMU VoIP Advantage 0 0 0 0 0 0 0 0 0 0 0 0 0
INet Acc/135 0 0 0 0 0 0 0 0 0 0 0 0 0
INet Acc/138 - Small Office 5Mb 0 74.95 74.95 74.9 5 74.95 74.95 74.95 74.95 74.95 74.95 74.95 74.95 74.95
Total charges 0 4,622.55 4,697.58 4,733.84 4,517.79 5,639.43 5,590.96 6,051.68 5,032.62 4,246.91 4,961.14 4,328.88 6,852.39
Selected period: 02/10/2021 None None
Display options: Amounts, Usages, Adjustment Detail None None
Summarize by: Detail None None