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(d) Seller's receipt of an Amended and Restated Development <br />Agreement, acceptable to Seller in Seller's reasonable determination, <br />which has also been approved by Buyer and the City, on or before October <br />15, 2011. Seller may exercise the contingency described in this subsection <br />(d) and terminate this Agreement pursuant to Section 18 on or before <br />October 16, 2011. <br />6. The sentence beginning with "Buyer is deemed to have commenced <br />construction... " set forth in Section 6(b)(ii)(E) of the Purchase Agreement is amended <br />and restated in its entirety to read as follows: "Buyer is deemed to have commenced <br />construction when Buyer has: (a) obtained all building permits from the City necessary <br />for the construction of the "Minimum Improvements," as defined in the Development <br />Agreement, and (b) undertaken work on the Property which work would constitute "the <br />actual and visible beginning of improvement on the ground," as that phrase is used in <br />Minnesota Statutes, Section 514.05 and interrupted by the Minnesota Courts." <br />7. Except as specifically modified herein, the Purchase Agreement is ratified <br />and confirmed in all respects. <br />Executed as of the date first above written. <br />(Signature pages follow) <br />4168216v1 <br />