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ADDENDUM <br />THIS ADDENDUM will be attached and made a part of the PURCHASE AND SALE CONTRACT OF <br />REAL PROPERTY (the "Agreement") made and entered into by and between CITY OF RAMSEY <br />and/or ASSIGNS (hereinafter "Seller") and IMPERIAL DEVELOPMENT COMPANY, LLC. and/or <br />ASSIGNS (hereinafter "Purchaser"). <br />Re: a certain tract of real property measuring approx. 160' of frontage on Hwy 47 South by 275' of depth for a <br />total 1.01± acres, City of Ramsey, Anoka County, Minnesota, <br />Section #2 (Earnest Money) and Section #6 (Inspection Period) is hereby amended to read as follows: <br />EARNEST MONEY. Buyer shall deposit ONE THOUSAND AND NO/100 ($1,000.00) into a non -interest <br />bearing escrow account held by Fidelity Title Agency of Springfield, MO. ("Escrow Holder") within five <br />(5) days after execution of the contract. Upon execution of this addendum Buyer shall deposit an <br />additional ONE THOUSAND AND NO/100 ($1,000) To the Escrow Holder; this payment and <br />the initial earnest money, an amount totaling two thousand ($2,000), shall be non refundable but <br />applied to the purchase price. <br />INSPECTION PERIOD. For a period of three hundred and sixty (360) days, which shall end on April <br />28 ,2015. Buyer shall have the privilege of going upon the Property as needed to confirm zoning, confirm <br />availability of all utilities (including sewer), to inspect, examine, survey, make soil and subsoil tests, <br />percolation tests, arrange fmancing for the proposed development and to otherwise do what Buyer <br />reasonably deems necessary to determine, to Buyer's sole satisfaction, whether the Property is suitable for <br />Buyer's intended development and use. If Buyer determines, in its sole discretion, that the Property is <br />unsuitable for its proposed development and gives notice of this to Seller prior to the expiration of the <br />Inspection Period, then this Agreement shall terminate. <br />All other terms of the contract not modified by this Addendum shall remain in full force and effect. <br />The acceptance of the above addendum to said PURCHASE AND SALE CONTRACT OF REAL <br />PROPERTY is hereby indicated by the signatures below. <br />PURCHASER(S): SELLER(S): <br />IMPERIAL DEVELOMENT, LLC. CITY OF RAMSEY <br />By: Sid Aultman <br />As Its: Member <br />Date: <br />As Its: <br />Date: <br />