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1. The expiration of the Contingency Period set forth in Article 6A of the Contract is extended to expire <br />on October 9, 2014. <br />2. Except as modified by this Amendment, the Contract is ratified and confirmed by the parties. <br />3. This Amendment may be signed in one or more counterparts, all of which taken together shall constitute <br />one and the same document. <br />Recommendation: <br />It is recommended that the HRA approve First Amendment to the Real Estate Contract Between the Ramsey HRA <br />and McDonalds USA, LLC with an extension of the contingency period to October 9, 2013. <br />Extending the contingency period will allow the City to proceed to closing with all contingencies removed. Not <br />approving the extension could potentially allow McDonald's to walk away or self - perform on the project <br />improvements, neither option is desireable given the desire of the HRA to close on the property and to complete the <br />site improvements in a timely manner. <br />Funding Source: <br />Not applicable. <br />Action: <br />Approve First Amendment to the Reaal Estate Contract Between the Ramsey HRA and McDonalds USA, LLC <br />with an extension of the contingency period to October 9, 2013. <br />Amendment to McDonalds Contract <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 06/06/2013 05:16 PM <br />Form Started By: Jo Thieling Started On: 06/06/2013 01:20 PM <br />Final Approval Date: 06/06/2013 <br />