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PURCHASE AGREEMENT <br />THIS PURCHASE AGREEMENT ("Agreement") is made and entered into effective as of <br />June 13, 2017 (the "Effective Date") by and between AEON PORTFOLIO 2 LLC, a Minnesota <br />nonprofit corporation, its successors and/or assigns ("Buyer"), and the CITY OF RAlVISEY, <br />MINNESOTA, a Minnesota municipal corporation ("Seller"). <br />In consideration of the Earnest Money, the mutual covenants set forth in this Agreement, <br />and other good and valuable consideration, the receipt and sufficiency of which are hereby <br />acknowledged, Seller and Buyer agree as follows: <br />1. Capitalized Terms and Other Kev Terms. Capitalized terms used in this Agreement that <br />are not otherwise defined herein shall have the meanings assigned to such terms as set forth <br />on Exhibit A hereto, which is hereby incorporated by reference. <br />2. Sale of Pronertv. Seller agrees to sell to Buyer, and Buyer agrees to buy from Seller, the <br />Property, upon and subject to the terms, conditions, and limitations herein contained. <br />3. Purchase Price and Manner of Payment. The Purchase Price shall be payable by Buyer to <br />Seller as follows: <br />3.1 Earnest Money Denosit. Within ten (10) business days following the Effective <br />Date, Buyer shall deposit the Earnest Money in the form of cash with the Title <br />Company and such funds shall be held and disbursed pursuant to the Escrow <br />Agreement and this Agreement; provided, however, that if there are any <br />inconsistent terms between the Escrow Agreement and this Agreement, the terms <br />of this Agreement shall control. Except as otherwise provided herein, the Earnest <br />Money shall be credited against the Purchase Price at the Closing. <br />3.2 Balance of Purchase Price. The balance of the Purchase Price, as increased or <br />decreased by any and all other adjustments set forth in this Agreement, shall be paid <br />by wire transfer of immediately available funds at the Closing. <br />4. Insnection Period. <br />4.1 Buyer acknowledges that it received the documents set forth in Exhibit C, if any, <br />and previously inspected the Property as part of its purchase from the Seller of the <br />adjoining property. <br />4.2 Upon the completion of its activities on the Property, Buyer shall remove any debris <br />resulting from such activities and shall restore the Property to the condition it was <br />in prior to the commencement of such activities. <br />Page 1of15 <br />