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Ramsey, MN <br />Sunwood Drive <br />L/C: 022-0575 <br />Prepared by: Gillian Bregman <br />After recording, return to: Kim Delmedico <br />McDONALD'S CORPORATION <br />One McDonald's Plaza <br />Oak Brook, Illinois 60523 <br />RESTRICTIVE COVENANT <br />The Housing and Redevelopment Authority in and for the City of Ramsey, Minnesota, <br />a public body corporate and politic under the laws of the State of Minnesota ("Grantor") wishes <br />to enter into a contract ("Contract") with McDONALD'S USA, LLC, a Delaware limited liability <br />company ("Grantee") to sell to Grantee a parcel of real estate described on Exhibit A attached <br />("the Premises"). <br />As an inducement for Grantee to enter into the Contract with Grantor, Grantor has agreed to <br />record a Restrictive Covenant affecting the use of Grantor's parcel of real estate located <br />adjacent to the Premises, as described on Exhibit B and as depicted as Area 1 on Exhibit C <br />("Lot 3"). <br />THEREFORE, in consideration of ONE DOLLAR AND NO CENTS ($1.00), and other good <br />and valuable consideration, the receipt of which is hereby acknowledged, Grantor promises and <br />declares that Lot 3 will not be leased, used or occupied as a Quick Service Restaurant and <br />further, that Lot 3 will only be primarily used for non -restaurant retail purposes (although its <br />ancillary uses will remain unrestricted) for a period of 20 years from the date listed in this <br />Restrictive Covenant; provided, however, that if (a) Grantee is not operating a McDonald's <br />Restaurant within 545 days after the date listed in this Restrictive Covenant or (b) if Grantee <br />opens and operates a McDonald's Restaurant and at any time within said 20 year period ceases <br />operating the McDonald's Restaurant for a period of more than 180 days other than as the <br />result of a casualty or any other conditions that are beyond the reasonable control of any party <br />to this Restrictive Covenant and not due to the fault or negligence of such party, this Restrictive <br />Covenant shall be null and void and of no further force or effect. The term "Quick Service <br />Restaurant" for purposes of this restriction shall be defined as any restaurant or food service <br />establishment with drive thru service, drive-in service or pedestrian walk-up window service <br />whose primary business consists of or whose marketing strategy is based on the sale of <br />hamburgers, ground meat or meat substitute sandwiches, or a combination of ground meat and <br />meat substitute sandwiches, or any other type of meat products, any of which are served in <br />sandwich form or chicken served in sandwich form. Any food service establishment which <br />offers as the primary method of service for all meal times, food and drink orders taken by and <br />served by a waiter or waitress at the customer's table is excluded from the term Quick Service <br />Restaurant. Notwithstanding the foregoing, a restaurant with drive-thru facilities that sells as its <br />primary product hamburgers, ground beef or ground beef products in sandwich form or chicken <br />in sandwich form shall be included in the term "Quick Service Restaurant". In addition, and not <br />by way of example, the following restaurants operating under the listed trade names, or <br />operating under any successor trade names, are prohibited within the area described on Exhibit <br />B, attached: <br />EXHIBIT C-1 <br />