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FIRST AMENDMENT <br />TO <br />PURCHASE AGREEMENT <br />(Assignment Approval) <br />This is the First Amendment to the attached Purchase Agreement by and between <br />the City of Ramsey and Michael and Kristen Johnson dated March 15, 2017. <br />Recitals <br />1. The Buyers desire to assign their entire interest in the Purchase Agreement, as <br />amended, and all rights and obligations contained therein, to MK Johnson <br />Properties, LLC. ("Assignee"). <br />2. Assignee desires to assume the Purchase Agreement, as amended, from Buyers, <br />including all of Buyers' rights and obligations contained therein. <br />3. Seller is amenable to the assignment from Buyers to Assignee, subject to the terms <br />set forth below. <br />Agreement <br />1. ASSIGNMENT APPROVAL. Seller hereby approves the assignment of the <br />Purchase Agreement, as amended, from Buyers to Assignee, subject to the <br />following: <br />a. All of Buyers' rights and obligations shall transfer to Assignee in their <br />entirety. Assignee shall be fully responsible for fulfilling the terms and <br />conditions of the Purchase Agreement, as amended, in the same manner as <br />would Buyers had the Purchase Agreement not been assigned, unless <br />otherwise agreed to in writing by Seller. <br />b. Any and all Earnest Money deposits made by Buyers to the Escrow Agent <br />shall transfer to Assignee, to the extent said deposits have not already <br />become non-refundable under the terms of the Purchase Agreement, as <br />amended. Buyers hereby relinquish all right, title and interest to the <br />Earnest Money. To the extent required by the Escrow Agent, Buyers and <br />Assignee shall execute documentation evincing the transfer to the Escrow <br />Agent's satisfaction. <br />