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PURCHASE PRICE PAYMENT AGREEMENT <br /> <br /> THIS AGREEMENT, made and entered into this day of __ <br /> <br /> , 1984, by and between THE CITY OF R.~MSEY, a <br />Minnesota municipal corporation ("the City"), and WASTE MANAGE- <br />MENT OF MINNESOTA, INC., a Minnesota corporation ("WMMI"). <br /> <br /> 1. Agreement. In consideration of the transfer by the City <br />to WMMI of certain real property described in Section 2 hereof <br />and other good and valuable consideration, the receipt and <br />sufficiency of which both parties hereby acknowledge, WMMI does <br />hereby agree to make payments to the City in accordance w%th the <br />terms and conditions hereinafter set forth. <br /> <br /> 2. Property Description. The real estate with respect to <br />which the payments are to be calculated hereunder ("the <br />Property") is situated in the City of Ramsey, County of Anoka, <br />State of Minnesota, which Property is legally described on <br />Schedule A attached hereto and by this reference incorporated <br />herein, plus that certain real property described as the Westphal <br />Tract and as more fully described in Paragraph 5 hereof. <br /> <br /> 3. Term. The term of the Agreement shall commence on <br /> <br />the __ day of , 1984, (the "Commencement Date") <br /> <br />and shall terminate on such date as WMMI ceases permanently to <br />deposit solid waste on the Property. <br /> <br /> 4. Use. WMMI agrees to use the Property as a solid waste <br />disposal' facility ("Sanitary Landfill"), as a facility for the <br />storage and maintenance of waste collection vehicles, and for <br />other legal uses. <br /> <br /> 5. Payment. From and after the Commencement Date, and <br />except as hereinotherwise provided, WMMI agrees to make monthly <br />payments equal to ten percent (10%) of the monthly gross revenues <br />received by WM~i from WMMI's operations of a SaniTary Landfill at <br />the Property. Said payments shall be payable within forty (40) <br />days after the end of each month in which said gross revenues are <br />received and shall be accompanied by a letter explaining the <br /> <br />EXHIBIT B 6/21/84 <br /> <br /> <br />