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Original Agreement <br />1 of 2 <br />ACKNOWLEDGEMENT OF TRANSFEI <br />OF <br />REAL ESTATE PURCHASE AGREEMENT <br />This Acknowledgement is entered into by and between Common Bond <br />Communities, the Housing and Redevelopment Authority for the City of Ramsey <br />("the HRA"), and the City of Ramsey, Minnesota on December 31, 2014. <br />Recitals <br />1. Common Bond Communities and the HRA entered into a Real Estate Purchase <br />Agreement dated May 20, 2014, ("the Agreement") for the purchase of Real Estate <br />as legally described in the Agreement. <br />2. Subsequent to entering into the Agreement, the City undertook the statutory <br />process to dissolve the HRA for reasons unrelated to the Agreement. <br />3. As part of the dissolution process, the HRA adopted Resolution #HRA -14-11-236 <br />transferring all real estate holdings to the City, including the Real Estate that is the <br />subject of the Agreement. <br />4. Also, as part of the dissolution process, the HRA's obligations under existing <br />purchase agreements are being assumed by the City. <br />5. The purpose of this Amendment is to substitute the City for the HRA as the Seller <br />in the Agreement. No other terms of the Agreement are modified by virtue of this <br />Amendment. <br />Transfer <br />1. The HRA hereby transfers to the City, and the City hereby accepts, all rights and <br />obligations of the HRA as the Seller in the Agreement. The City shall enforce the <br />terms of the Agreement as the Seller of the Real Estate. <br />2. Common Bond Communities hereby acknowledges and consents to the transfer of <br />the Agreement from the HRA to the City. <br />3. With the exception of substituting the City for the HRA as Seller, no terms of the <br />Agreement are modified as a result of this Acknowledgement of Transfer. <br />