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<br />DE'VELOPMENTIPURCHASE AGREEMENT
<br />This Agreement is made this z~-day of February, 21106 by and between tho CITY OF
<br />RAMSEY, a Minnesota Municipal Corporation, 15153 Nowthen Boulevard N.W„ Ramsey,
<br />Minnesota ("CITY'S and RNER'S FEND HOLDINGS, LLC, a, Minnesota Limited Liability
<br />Company, 19230 Evans Street, Elk River, Minnesota ("RH."),
<br />RECITALS
<br />WHEREAS, the CITY is the fee owner of the following described property, to-wit:
<br />All that part of Government Lot 3, Seotion 2S and Govertunent Lot 6, Section 36, all in
<br />Township 32, Range 25, Anoka County, Minnesota, described as follows:
<br />Commencing at the most northerly corner of Lot 4; Block 1, RIVER'S BEND PLAZA 3rd
<br />ADDITION, according to said plat on file and of record in the office of the County Recorder,
<br />Anoka County, Minnesota; thence North 67 degrees 21 minutes 17 seconds Eaet, assumed
<br />bearing along the easterly extension of the northerly line of said Lot 4, a distance of 66.02 feat to
<br />aline 66,00 feet easterly of and parallel with the easterly Line of said Lot 4; thence South 21
<br />degrees 12 minutes 12 seconds East, along said parallel line, a distance of 110,00 feet to the
<br />'point of beginning of the property to be described; thence continuing South 21 degrees 12
<br />minutes 12 seconds East, along said last described parallel line and its southerly extension, a
<br />distance of 434,45 feet; thence Easterly, Southeasterly and Southerly a distance of 102,62 feet,
<br />along anon-tangential curve concave to the Southwest having asadius of 60.00 feet, a central
<br />angle of 97 degrees 59 minutes 52 seconds and a chord which bears South 56 degrees 27 minutes
<br />57 seconds East; thence North 68 degrees 47 minutes 48 seconds East, not tangent to said last
<br />described curve, a distance of 109.32 feet; thence North 25 degrees 22minutes 35 seconds East a
<br />distance of 134,43 feet; thence North 68 degrees 47 minutes 48 seconds East a distance of 126.75
<br />feet; thence North 21 degrees 12 minutes 12 seconds West a distance of 521,01 feet to the
<br />intersection with a line distant 66,00 feet southeasterly of and parallel with the Southeasterly line
<br />of RIVER'S BEND 2"d ADDITION, according to said plat on file and of record in the office of
<br />the County Recorder, Anoka County, Minnesota; thence South 78 degrees 28 minutes 02'
<br />seconds West, along said last described parallel line, a distance of 76.27 feet; thence. South 67
<br />degrees 21 minutes 17 seconds West, along said last described pazallel line, a distance of 200.91
<br />feet; thence South 21 degrees 12 minutes 12 seconds East 110.00 feet; thence South 67 degrees
<br />21 minutes 17 seconds West a distance of 110,D0 feet to the point of beginning,
<br />(the "City Property"); and
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