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PARTIAL RELEASE OF ALLOCATION AGREEMENT <br /> <br /> THIS PARTIAL RELEASE OF ALLOCATION AGREEMENT (this "Partial Release") <br />is made as of June __, 2005, between CITY OF RAMSEY, a Minnesota municipal corporation <br />(the "City") and RAMSEY TOWN CENTER, LLC, a Minnesota limited liability company <br />("Developer"). <br /> <br />BACKGROUND: <br /> <br /> A. City, D. R. Horton, Inc-Minnesota, a Delaware corporation ("Horton") and <br />Developer entered into that certain Allocation Agreement dated December 16, 2003 wh/ch was <br />recorded in the office of the Anoka County Recorder on January 22, 2004 as Document No. <br />1891854 and in the office of the Registrar of Titles on ., 2004 as Document <br />No. 457481 (the "Allocation Agreement"). <br /> <br /> B. Horton has re-conveyed to Developer the property legally described on Exhibit A <br />attached hereto and made a part hereof (the "Release Property"). <br /> <br /> C. City and Developer desire to partially release the Release Property from the <br />Al location Agreement. <br /> <br />AGREEMENT: <br /> <br /> FOR VALUABLE CONSIDERATION, the receipt of which is acknowledged by the <br />parties hereto, the parties hereby agree as follows: <br /> <br /> 1. City and Developer hereby partially release the Release Property from the <br />Allocation Agreement. The Release Parcel shall no longer be subject to the terms and conditions <br />of thc Allocation Agreement. <br /> <br /> 2. This instrument may be executed by the parties hereto in separate counterparts, <br />each of which when so executed and delivered shall be an original, but all such counterparts shall <br />together constitute but one and the same instrument. <br /> <br /> <br />