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4 <br />FIRST AMENDMENT TO MASTER <br />DEVELOPMENT AGREEMENT <br />This FIRST AMENDMENT TO MASTER DEVELOPMENT AGREEMENT ("First <br />Amendment") is made and entered into this g day of February, 2005, by and between the <br />CITY OF RAMSEY, MINNESOTA, a municipal corporation organized and existing under the <br />laws of the State of Minnesota (the "City"); RAMSEY TOWN CENTER LLC, a Minnesota <br />limited liability company (the "Developer"); RAMDANCE LLC, a Minnesota limited liability <br />company ("Ramdance"); and PSD, LLC, a Minnesota limited liability company ("PSD"). <br />RECITALS: <br />WHEREAS, the City and the Developer are parties to the City of Ramsey Master <br />Development Agreement for Ramsey Town Center by and between City of Ramsey and Ramsey <br />Town Center LLC, dated as of September 17, 2003 and recorded in the office of the Anoka <br />County Recorder and the office of the Anoka County Registrar of Titles on September 29, 2004 <br />as Document Nos. 1854364.0 and 446333.0, respectively (the "Master Agreement"); <br />WHEREAS, the Master Agreement encumbers certain property defined therein as the <br />"Subject Property." Since the execution and recording of the Master Agreement, the "Subject <br />Property" has been platted and replatted. The current description of the "Subject Property" is set <br />forth on the attached Amended and Restated Exhibit A. <br />WHEREAS, the City and the Developer have negotiated certain mutually beneficial <br />amendments to the Master Agreement as more particularly set forth herein; and <br />WHEREAS, the Interested Parties, as defined in this First Amendment, are executing this <br />First Amendment to subject their interests in the Subject Property, as defined in the Master <br />Agreement, to the terms of this First Amendment to Master Development Agreement. <br />NOW, THEREFORE, in consideration of the premises and the mutual obligations of the <br />parties hereto, each of them does hereby covenant and agree with the others as follows: <br />1. Section 2.1(g) of the Master Agreement is hereby deleted in its entirety and replaced with <br />the following: <br />(g) City Hall and Parking Ramp Sites. "City Hall and Parking Ramp Sites" <br />means the real property legally described on the attached amended and restated <br />Exhibit B. <br />2. Section 2.1(q) of the Master Agreement is hereby amended to read as follows: <br />(q) City's Ninety Foot Tract. "City's Ninety Foot Tract" means Outlots <br />A, B and C, RAMSEY TOWN CENTER ADDITION, Anoka County, <br />Minnesota. <br />3. Section 2.1(kk) of the Master Agreement is hereby amended to read as follows: <br />1 <br />