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DECLARATION OF PUBLIC ROADWAY EASEMENT <br />1. Declarant. The Housing and Redevelopment Authority in and for the City of <br />Ramsey, a body politic and corporate under the laws of the state of Minnesota (the "HRA") <br />makes this Declaration of Public Roadway Easement (the "Declaration of Easement") as of the <br />date set forth in Section 2 below. <br />2. Effective Date. This Declaration of Easement is effective as of the <br />,2011. <br />3. Recitals. <br />day of <br />3.1 Recital One. The HRA is the owner of the real property legally described <br />on the attached Exhibit A (the "F&C Property"); <br />3.2 Recital Two. The City of Ramsey, a municipal corporation and political <br />subdivision of the State of Minnesota (the "City") is the owner of the real property <br />legally described on the attached Exhibit B (the "City Property"). <br />3.3 Recital Three. The F&C Property and the City Property are referred to <br />collectively in this Declaration of Easement as the "Property." <br />3.4 Recital Four. The HRA is selling the F&C Property to F & C Ramsey, <br />LLC, an Indiana limited liability company ("F&C") pursuant to that certain Purchase <br />Agreement among and between F&C, the City and the HRA dated January 31, 2011 (the <br />"Purchase Agreement"). <br />3.5 Recital Five. Pursuant to Section 6(b)(ii)(F) of the Purchase Agreement, <br />the HRA is to convey the F&C Property to F&C subject an appurtenant, exclusive <br />easement over a portion of the F&C Property for public vehicular and pedestrian ingress <br />and egress between the City Property and Sunwood Drive. The public may use the <br />easement 24 hours a day, every day without restriction. <br />3614104v2 <br />