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B R I G G S A N D MORGAN <br /> C. Negotiate a new settlement with McDonald's. <br /> 2. Restrictive Covenant. Upon the execution of an affidavit by a City representative <br /> indicating that no construction has taken place and that McDonald's is not operating a restaurant <br /> at the Property, the Examiner of Titles for Anoka County has agreed to issue an examiner's <br /> directive ordering the removal of the Restrictive Covenant from the various certificates of title <br /> for the property it was originally recorded against. The affidavit and examiner's directive are in <br /> process. <br /> 3. Escrow Agreements. The City requested the release of the Sign Escrow Funds <br /> and the Soil Escrow Funds in February after the last date had passed and the escrow agent has <br /> returned all funds to the City (with the consent of McDonald's). <br /> 3 <br /> 8219923v2 <br />