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PURCHASE AGREEMENT RELATING TO OUTLOT A, RAMSEY TOWN CENTER 7TH ADDITION 1. Parties. The parties to this Purchase Agreement (the "Agreement") are: a. The Housing and Redevelopment Authority in and for the City of Ramsey, Minnesota, a public body politic and corporate under the laws of the state of Minnesota ("Seller"). Seller's address is Ramsey Municipal Center, 7550 Sunwood Drive, Ramsey, Minnesota 55303, Attn: Executive Director; and b. Edgewood Management Group, LLC, a North Dakota limited liability company ("Buyer"). Buyer's address is . [Insert address and name of contact person.] Buyer hereby designates as Buyer's agent for service of process in Minnesota, agrees that Buyer may not revoke such designation during the term of this Agreement and agrees that Seller may serve process on Buyer by leaving the process with a person of suitable age and discretion at . [Insert address for service of process.] This Agreement sometimes refers to Seller and Buyer individually as a "Party" and collectively as the "Parties". Seller and Buyer are entering into this Agreement pursuant to Buyer's exercise of an option. Seller granted to Buyer in an Option Agreement between Seller and Buyer dated as of October 15, 2012 (the "Option Agreement"). Except for the provisions of Section 8 of the Option Agreement, which, by their terms, survive the Parties' execution of this Agreement, and the provisions of Section 11 of the Option Agreement, to the extent necessary to enforce Seller's rights under Section 8 of the Option Agreement, the terms of the Option Agreement are merged into and extinguished by the Parties' execution of this Agreement. 2. Effective Date and Original Purchase Agreement. This Agreement is dated, for reference purposes, and is effective as of December 15, 2012 (the "Effective Date"). 3. Property. The property that is the subject of this Agreement is Outlot A, RAMSEY TOWN CENTER 7TH ADDITION, Anoka County, Minnesota, according to the recorded plat thereof (the "Land"). As used in this Agreement the term "Property" means the Land and all hereditaments and appurtenances to the Land. There are currently no improvements located on the Land. The Parties do not contemplate the conveyance of any personal property pursuant to this Agreement. Seller and Buyer acknowledge and agree that as Buyer proceeds through its site evaluation and planning process, either Seller or Buyer may desire to modify the boundaries of the Land to better accommodate Buyer's development, but any modification to the boundaries to the Land shall require an amendment to this Agreement executed by both Seller and Buyer. 4. Purchase and Sale. Seller agrees to sell the Property to Buyer pursuant to the terms of this Agreement, and Buyer agrees to purchase the Property from Seller pursuant to the terms of this Agreement. C-1 4937063v3