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Phase I Environmental Site Assessment for Ramsey Town Center, <br />Highway 10 and Ramsey Boulevard, NW, Ramsey, Minnesota <br />dated April 27, 2007 (Delta Project No. 5A0703-198), prepared by <br />Delta Environmental Consultants, Inc. for Minnwest Bank Central, <br />a copy of which Seller has provided to Buyer (the "Environmental <br />Report"); the Land is not subject to any liens or claims by <br />government or regulatory agencies or third parties arising from the <br />release or threatened release of Hazardous Substances in, on or <br />about Land; and, except as may be disclosed in the Environmental <br />Report, the Land has not been used in connection with the <br />generation, disposal, storage, treatment or transportation of <br />Hazardous Substance. For purposes of this Agreement, the term <br />"Hazardous Substance" includes but is not limited to substances <br />defined as "hazardous substances," "toxic substances" or <br />"hazardous wastes" in the Comprehensive Environmental <br />Response Compensation Liability Act of 1980, as amended, 42 <br />U.S.C. §9601, et seq., and substances defined as "hazardous <br />wastes," "hazardous substances," "pollutants, or contaminants" as <br />defined in the Minnesota Environmental Response and Liability <br />Act, Minnesota Statutes, §115B.02. The term "hazardous <br />substance" also includes asbestos, polychlorinated biphenyls, <br />petroleum, including crude oil or any fraction thereof, petroleum <br />products, heating oil, natural gas, natural gas liquids, liquefied <br />natural gas, or synthetic gas useable for fuel (or mixtures of natural <br />gas and synthetic gas). <br />b. Statutory Disclosures. As required by statute, Seller hereby represents to <br />Buyer that, to the best of Seller's actual knowledge: <br />i There are no wells located on the Land. <br />ii There are no underground or above ground storage tanks of any <br />size or type located on the Land. <br />iii Sewage is not currently generated at the Land, and there are no <br />abandoned individual sewage treatment systems located on the <br />Land. <br />iv The Land has not been used for Methamphetamine production. <br />c. Covenants of Seller. <br />i From and after the Effective Date, Seller will not perform any <br />grading or excavation on the Land, will not construct, remove or <br />modify any improvements or landscaping on the Land, without <br />Buyer's consent which consent Buyer may not unreasonable <br />withhold, condition or delay. <br />C-7 <br />4937063v3 <br />