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SETTLEMENT AGREEMENT <br />This is a binding Settlement Agreement ("Agreement") made and entered into as of the <br />3rd day of November, 2020 by and between the City of Ramsey ("Ramsey") on the one hand, <br />and the State of Minnesota, by and through its Department of Transportation, (the "State") on the <br />other hand. <br />DEFINITIONS <br />1. "Lawsuit" means the served and filed lawsuit captioned State of Minnesota, by <br />and through its Department of Transportation v. Chase Holdings, LLC; Ramsey Jr. Partners, <br />LLC; Mixmi Brands, Inc.; and City of Ramsey with Anoka County District Court File Number <br />02-CV-20-2576. <br />2. "Party" means the parties to this Agreement, Ramsey and State, individually, and <br />"Parties" means Ramsey and State, collectively. <br />3. "Barrier" means either jersey barriers or a split -rail fence. <br />RECITALS <br />WHEREAS, State has initiated the Lawsuit against Ramsey. <br />WHEREAS, the Parties desire to resolve the Lawsuit, on the terms stated herein, to avoid <br />the uncertainties and costs associated with litigation. <br />AGREEMENT <br />NOW, THEREFORE, in consideration of the covenants and other terms set forth in this <br />Agreement, and for other good and valuable consideration, the receipt and sufficiency of which <br />the Parties hereby acknowledge, the Parties hereby agree as follows: <br />1. Incorporation of Definitions and Recitals. The foregoing definitions and recitals <br />are incorporated in this Agreement. <br />2. Placement of Barrier. Ramsey shall erect and maintain a Barrier around the <br />parking spaces located south of Tract C on Registered Land Survey No. 151, which was recorded <br />on November 15, 1994, with the Anoka County Registrar of Titles as document number 261926. <br />The parking spaces to be fenced are located within State's Trunk Highway 10 right of way as <br />depicted on Plat 02-M6 recorded on December 14, 1979, with the Anoka County Recover as <br />document number 541043. The Barrier must be placed in a way to ensure no vehicles may enter <br />into the area within the Barrier. <br />3. Duration of Placement of Barrier. The Barrier erected by Ramsey pursuant to <br />paragraph 2 shall remain around the parking spaces south of Tract C until such time as the <br />Parties reach a subsequent agreement. <br />1 <br />