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Agreement <br />In consideration for the mutual promises set forth below, the parties agree as <br />follows: <br /> <br />1. <br />The above recitals are incorporated into the Agreement. <br /> <br />2. <br />The Closing Date is hereby extended from June 15, 2020 to January 15, 2021. <br /> <br />3. <br />The certificate(s) of occupancy dates are extended for construction of Building 1 to July <br />15, 2021 and for construction of Building 2 to February 15, 2022. The required certificate <br />of occupancy date for the construction of Building 2 can be extended in one month <br />increments with provision of $5,000 in Non-refundable Earnest Money for each additional <br />month beyond February 15, 2022, up to 6 months, or $30,000. The required construction <br />of Building 2 certificate of occupancy date will not be extended past August 15, 2022. The <br />penalty provision of $150,000 remains in place if Building 2 is not constructed according <br />to the terms and conditions of set forth herein. <br /> <br />4. <br />Buyer acknowledges that the Inspection Period expired on July 15, 2019 and that a Notice to <br />Proceed was provided to the Seller. <br /> <br />5. <br />All other terms of the Purchase Agreement and Purchase Agreement First Amendment remain <br />unchanged except to the extent inconsistent with this Second Amendment to Purchase <br />Agreement. <br /> <br />SELLER: The City of Ramsey <br />, a Minnesota municipal corporation <br /> <br />By: ____________________________ Dated: ___________________, 2020 <br /> John LeTourneau, Mayor <br /> <br /> <br />By: ____________________________ Dated: ___________________, 2020 <br />Kurt Ulrich, City Administrator <br /> <br />BUYER: RGH RAMSEY, LLC <br />, a Minnesota Limited Liability Company. <br /> <br /> <br />By: ____________________________ Dated: ___________________, 2020 <br /> Robert C. Hardy, Chief Manager <br /> <br /> <br />Resolution #20-100 <br />Page 4 of 4 <br /> <br /> <br />