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EXHIBIT B <br />PERMITTED ENCUMBRANCES AND RESTRICTIONS <br />1. Master Development Agreement dated September 17, 2003, filed September 24, <br />2003 as Document No. 1854364 (abstract) and 446333 (Torrens), as amended by <br />a First Amendment to Master Development Agreement dated as_of the 2 8th day of <br />February, 2005 and recorded in the office of the Anoka County Recorder and the <br />office of the Anoka County Registrar of Titles on fl)cct 13 , 2005 as <br />Document Nos. 1 C/' ,35,0if and Ateg , respectively. <br />2, Levied and pending special assessments. <br />3. Parking Improvement Use and Maintenance Agreement dated as of the 28 day of <br />February, 2005 and recorded in the office of the Anoka County Recorder and the <br />Anoka County Registrar of Titles' on , 2005 as Document No. <br />4. City of Ramsey Parkland and Trail Plan Agreement for Ramsey Town Center <br />dated -, 2005, and recorded in the office of the Anoka County <br />Recorder and the Anoka County Registrar of Titles as Document No. <br />on <br />5. The restriction setting forth the Declaration of Restrictive Covenant Regarding <br />Banking or Financial Institutions Agreement dated September 23, 2003 and <br />recorded in the office of the Anoka County Recorder and Registrar of Titles on <br />September 26, 2003 as, respectively, Document Nos. 1855389.0 and 446644.0. <br />6. Easements dedicated on the plat of Ramsey Town Center Addition. <br />7. Terms and conditions of Ordinance No. 86 -1I establishing a Storm Sewer <br />Improvement Tax District, recorded as Document No. 784944. <br />8. For a period of 30 years following the date of this deed, the City may only use the <br />City Hall and Parking Ramp Sites for purposes of a City Hall, a multi -modal <br />transit station, one or more public parking ramps, one or more public parking lots <br />or other parking facilities, or a combination of the above uses. This restriction <br />shall run with the land and are for the benefit of the owners of property in the <br />Core Area, which is legally described in Exhibit B -1 attached hereto. <br />The restrictions hereby imposed may be amended or released with the written <br />consent of the owners of a majority of the tax parcels within the Core Area. A <br />document amending or releasing these restrictions must: be in writing and must <br />reflect with specificity the nature of the release of the restriction or the <br />amendment of the restriction, and. <br />1 21 1 08456v3 820716 <br />