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GRANT OF ENCROACHMENT EASEMENT <br />GRANT OFENCROACHMENT EASEMENT <br />This(this "Grant of Easement") is executed as <br />of the __ day of May, 2012 bythe City of Ramsey, Minnesota, a charter city organized and existing under <br />the constitution and laws of the State of Minnesota (the "Grantor"). <br />RECITALS <br />A. <br />Grantor owns the real property located in Anoka County, Minnesota legally described on the <br />Exhibit A <br />attached(the "Burdened Property"), on which Grantor has constructed a municipal <br />parking ramp. <br />B. <br />F & C Development, Inc., an Indiana corporation (the “Grantee”) owns real property located in <br />Exhibit B <br />Anoka County, Minnesota legally described on the attached (the "Benefited Property") <br />that is adjacent to the Burdened Property and on which Grantee intends to construct a residential <br />apartment building. <br />C. <br />In preparation for and in anticipation of the building improvements, Grantor constructed footings <br />on the Burdened Property with the intention that such footings would provide support for both the <br />municipal parking ramp constructed by Grantor and the residential apartment building <br />constructed by Grantee. <br />D. <br />As a result of how the footings were constructed, Grantee’s residential apartment building will <br />encroach onto the Burdened Property. Grantor has therefore agreed to grant an easement for the <br />encroachment to Grantee, subject to the terms set forth below. <br />In consideration of the foregoing, Grantor hereby declares: <br />GRANT OF EASEMENT <br />1. <br />Easement. <br />Grantor hereby grants, for the benefit of Grantee and Grantee’s tenants, a perpetual, <br />non-exclusive appurtenant easement over, under, and across that portion of the Burdened <br />Exhibit C <br />Property described on (the “Easement Area”). The easement is appurtenant to the <br />Benefitted Property. The purpose of the easement is to give Grantee the right to use the Easement <br />Area and the footings located within the Easement Area for the construction, use, maintenance, <br />repair and replacement of a portion of the residential apartment building that Grantee is <br />constructing on Benefitted Property. <br />4638290v3 <br /> <br />