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AMENDMENT NO. 1 TO PURCHASE AGREEMENT <br />THIS AMENDMENT NO. 1 TO PURCHASE AGREEMENT ("Amendment") is made as of <br />the day of September, by and between THE HOUSING AND REDEVELOPMENT <br />AUTHORITY IN AND FOR THE CITY OF RAMSEY, MINNESOTA, a public body politic and <br />corporate under the laws of the state of Minnesota ("Seller") and KONA PROPERTIES, LLC, a <br />Minnesota limited liability company ("Buyer"). <br />RECITALS: <br />A. Seller and Buyer are parties to that certain Purchase Agreement dated September 4, <br />2012 (the "Purchase Agreement"). <br />B. Seller and Buyer wish to amend the Purchase Agreement to reflect certain additional <br />agreements between them. <br />NOW, THEREFORE, in consideration of the premises and for good and valuable <br />consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as set <br />forth below. <br />1. Defined Terms. Unless otherwise indicated, capitalized terms shall be defined in the <br />manner set forth in the Purchase Agreement. <br />2. Legal Description. The existing legal description of the Property was inadvertently <br />not included in the executed Purchase Agreement. Accordingly, the legal descriptoin attached hereto <br />as Exhibit A is hereby inserted as Exhibit A to the Purchase Agreement. It is understood and agreed <br />that, prior to Closing, the Property will be re -platted such that the legal description as of Closing <br />shall be Lot 5, Block 1, COR TWO. <br />3. Special Service District. The following is hereby added as a new Section 5.6 to the <br />Purchase Agreement: <br />"5.6. Special Service District. Seller has advised Buyer that Seller has <br />been working with the City and intends to continue to work with the City after <br />Closing on the City' s adoption of an ordinance establishing a Special Service District <br />pursuant to Minnesota Statutes Sections 428A.01 through 428A.101, as the same <br />may be amended, or the establishment of a similar service district pursuant to future <br />special legislation (either a "Special Service District"). The Special Service District, <br />if established, will include the Property. Buyer agrees that, at the request of Seller, <br />Buyer will cooperate with and assist Seller and the City in the establishment of a <br />Special Service District. Buyer' s obligation to cooperate and assist includes, but is <br />not limited to, an obligation to join in a petition requesting a public hearing on the <br />creation of a Special Service District pursuant to Minnesota Statues Section 428A.08. <br />Buyer further agrees that Buyer will not file or join in the filing of an objection <br />84959-004\1579549.doc 1 <br />