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EXHIBIT B <br />AGREEMENT AND RESTRICTIVE COVENANT <br />THIS AGREEMENT AND RESTRICTIVE COVENANT is made and entered into this day of <br />2009, between the City of Anoka, a Minnesota municipal <br />corporation, ("the City"), and the Metropolitan Council, a political subdivision of the State of <br />Minnesota ("the Council"). <br />WHEREAS, the City has acquired the real property located at 1125 West Main Street described <br />in Exhibit A attached hereto and incorporated herein; and <br />WHEREAS, the Council has contributed funds toward the acquisition of the City's interest in the <br />real property pursuant to the Council's Loan Program and a Loan Agreement between the <br />Council and the City as authorized by Minnesota Statutes section 473.167; and <br />WHEREAS, the Loan Program was established to provide for the acquisition of property within <br />the right-of--way of a state trunk highway shown on an official map when necessary to take <br />advantage of the market opportunities when developed properties become available for sale; <br />NOW, THEREFORE, in consideration of the loan made by the Council to the City and in <br />consideration of the mutual agreements and covenants, the Council and City agree as follows: <br />1. No sale, lease, mortgage, or other conveyance, nor the creation of any easement, <br />restriction or other encumbrance against the real property described in Exhibit A shall <br />be valid for any purpose unless the written approval of the Council, or its successors, is <br />duly filed and recorded at the time of the filing and recording of the instrument to which <br />such approval pertains. Notwithstanding the foregoing, the Council consents to a lease <br />agreement between the City of Anoka and Minnesota State Colleges and Universities, <br />on behalf of the Anoka Technical College, to allow overflow student and staff parking on <br />the subject property, subject to the City's termination right requiring the tenant to <br />vacate upon notification of construction of the Highway 10/Thurston Avenue <br />interchange. <br />2. Except as provided in paragraph 1 above, the real property described in Exhibit A shall <br />not be used for any purpose except the construction of US Highway 10/Thurston <br />Avenue interchange unless the Council, or its successors, shall consent to such other use <br />or uses by instrument in writing duly filed and recorded and designating the nature, <br />