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Agenda - Council Work Session - 01/11/2016
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Agenda - Council Work Session - 01/11/2016
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Last modified
3/17/2025 3:46:30 PM
Creation date
1/8/2016 9:13:54 AM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council Work Session
Document Date
01/11/2016
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Ramsey, Minnesota <br />Sunwood Drive <br />L/C: 022-0575 <br />SECOND AMENDMENT TO REAL ESTATE CONTRACT <br />This SECOND AMENDMENT TO REAL ESTATE CONTRACT ("Amendment") is dated X', <br />between THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF <br />RAMSEY, MINNESOTA, a public body corporate and politic under the laws of the State of <br />Minnesota ("Seller") and McDONALD'S USA, LLC, a Delaware limited liability company <br />("Purchaser"), The following statements are a material part of this Amendment: <br />A. Seller and Purchaser entered into a Real Estate Contract dated December 19, 2012 as <br />amended by First Amendment to Real Estate Contract dated June 11, 2013 (together, the "Contract") <br />for the property described in Exhibit A attached to the Contract and incorporated into, this Agreement <br />by this reference. <br />B. Purchaser has expended considerable time, money and effort to satisfy the conditions <br />precedent in the Contract, <br />C. The expiration of the Contingency Period is about to occur, and the parties desire to <br />extend such date. <br />THEREFORE, in consideration of the mutual covenants contained in the Contract and other good <br />and valuable consideration, the receipt of which is hereby acknowledged between the parties, Seller and <br />Purchaser agree as follows: <br />1. The expiration of the Contingency Period set forth in Article 6A of the Contract is <br />extended to expire on December 9, 2013. <br />Except as modified by this Amendment, the Contract is ratified and confirmed by the <br />parties. <br />3 This Amendment may be signed in one or more counterparts, all of which taken <br />together shall constitute one and the same document. <br />End of Text. Signatures on next page <br />Document H: 1258288-v1 <br />
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