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EXHIBIT I <br />DECLARATION OF RESTRICTIONS AND COVENANTS <br />DECLARATION OF RESTRICTIONS AND COVENANTS <br />, 2012 <br />THIS DECLARATION OF RESTRICTIONS AND COVENANTS ("Declaration") is <br />executed by The Housing and Redevelopment Authority in and for the City of Ramsey, <br />Minnesota, a public body politic and corporate under the laws of the state of Minnesota (the <br />"HRA"). <br />RECITALS <br />WHEREAS, the HRA is the owner of the real estate legally described on the attached <br />Exhibit A (the "Burdened Property"); <br />WHEREAS, PSD, LLC, a Minnesota limited liability company ("PSD"), is the owner of <br />the real estate legally described on the attached Exhibit B-1 (the "PSD Property"); Anchors <br />Away, Inc., a Minnesota corporation ("Anchors Awav"), is the owner of the real estate legally <br />described on the attached Exhibit B-2 (the "Anchors Awav Property"); NAU Holding Company, <br />LLC, a Minnesota limited liability company ("NAU") is the owner of the real estate legally <br />described on the attached Exhibit B-3 (the "NAU Property"); and Ramsey Professional Center, <br />LLC, a Minnesota limited liability company ("RPC") is the owner of the real estate legally <br />described on the attached Exhibit B-4 (the "RPC Property") (collectively, the entities are the <br />"Affiliated Entities") (collectively, the parcels of property are the "Benefited Properties"); and <br />NOW, THEREFORE, for one dollar and other good and valuable consideration, the <br />HRA hereby declares as follows: <br />DECLARATIONS <br />1. Declaration of Restriction. The HRA hereby declares that (i) it will not, in its <br />capacity as the owner of all or any portion of the Burdened Property, file or join in a filing of a <br />I-1 <br />4517963v7 <br />