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NOW, THEREFORE, in consideration the mutual covenants and agreements set forth in <br />this Amendment No. 1, the parties agree to amend the Agreement as follows: <br /> <br />SECTION 1.A. of the Agreement shall be amended to reads as follows: <br /> <br /> A. Land Acquisition. The City has commenced condemnation proceedings <br />under Minnesota Statutes, Chapter 117 to acquire fee title to the Project Site, the legal <br />description of which is attached hereto and incorporated as part of this Agreement as <br />Exhibit A. The City will complete said proceedings under the "quick-take" provisions of <br />said statute, pay the awards as are required by law, and thereby acquire title to the Project <br />Site. The City shall secure access to the Project Site to allow the ACHRA to perform <br />geotechnical and environmental analyses of the Project Site. Upon receipt of title to the <br />Project Site under Minn. Stat. § 117.011 et seq., the City agrees to allow the ACHRA and <br />its contractors, subcontractors and agents access to enter upon the Project Site to do all <br />things necessary or desirable to construct and operate the Project pending conveyance of <br />the Project Site to the ACHRA and the City further agrees to expeditiously comply with <br />all requirements of its charter governing conveyance of real property. The City shall also <br />provide to the ACHRA, at no cost to the ACHRA, a survey of the Project Site providing a <br />legal description and topography of the Project Site, all easements and utilities, and which <br />is certifiable to the Bond Trustee. The City shall also extend all public utilities to the <br />Project Site at no cost to the ACHRA. <br /> <br />SECTION I.D. of the Agreement shall be amended to reads as follows: <br /> <br /> D. Conveyance of Project Site. At bond closing for financing of the Project, <br /> <br />or on such later date as the City has complied with its charter provisions governing <br />conveyance of real property, the City shall convey marketable title to the Project Site to <br />the ACHRA for $1.00. The conveyance shall be subject to the following conditions: <br /> <br /> 1) The City shall have good and marketable title to the Project Site, <br /> <br /> the legal description of which is found on Exhibit A, and shall furnish an Owner's <br /> Policy of Title Insurance insuring the ACHRA, on a standard ALTA form, <br /> insuring title in a sum equal to the fair market value of the Project Site. <br /> <br />2 <br /> <br /> <br />