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TOGETHER WITH <br />A 10.00 foot wide permanent easement for drainage and utility purposes over under and across that <br />part of said Lot 2 which lies west of said Parcel 4PE, and which lies northerly of a line drawn parallel with <br />and distant 10.00 feet southerly of the above described Line "A" and it's extensions. <br />AND; <br />PROPERTY DESCRIPTION PARCEL B: <br />Lot 3, Block 2, HY-10 RAMSEY, Anoka County, Minnesota; <br />EXCEPT <br />Parcel 5, ANOKA COUNTY HIGHWAY RIGHT-OF-WAY PLAT NO. 90, Anoka County, Minnesota; <br />PROPOSED DRAINAGE & UTILITY EASEMENT DESCRIPTION: <br />A permanent easement for drainage and utility purposes over under and across Parcel 5PE as shown <br />on said ANOKA COUNTY HIGHWAY RIGHT-OF-WAY PLAT NO. 90. (the "Property") <br />Addresses: 8020 147th Avenue NW, Ramsey, MN and 8019 146th Avenue NW Ramsey, MN <br />55303. <br />Anoka County Property Identification: Part of 29-32-25-14-0019 and Part of 29-32-25-14- <br />0009; <br />3. PURCHASE PRICE. The purchase price for the Property is $1.00 (the "Purchase Price"). <br />The property valuation is $621,019 for the purposes of the land exchange. <br />4. EARNEST MONEY AND ADDITIONAL EARNEST MONEY. Within (5) business <br />days after the Effective Date, Buyer must deposit the sum of $1.00 (the "Earnest Money") <br />with Registered Abstracters Inc., 2115 3rd Avenue, Anoka, MN 55303 ("Escrow Agent"), <br />via wire transfer or delivery of a certified check payable to Escrow Agent. <br />a. If Buyer does not deposit the Earnest Money Escrow Agent as required above, <br />then Seller may terminate this Agreement by written notice to Buyer; provided, <br />however, if Buyer deposits the Earnest Money with Escrow Agent before Seller <br />exercises Seller's right to terminate, Seller's right to terminate is extinguished. <br />b. Upon Seller's receipt of a Notice to Proceed from Buyer in accordance with <br />Section 9(b), all of the Earnest Money becomes non-refundable (except in <br />accordance with Section 22 as a result of a default by Seller). <br />c. If Buyer does not provide a Notice to Proceed to Seller in accordance with <br />Section 9(b), this Agreement automatically terminates and Escrow Agent must <br />disburse all Earnest Money Escrow Agent holds to Buyer. <br />Page 2 of 12 <br />