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1ynnLaSalle Plaza <br />aoo LaSax*Avenue <br />Minneapolis; MN ssooz <br />~z 95292*4600 <br />July 1O.201Q <br />BYELECTRONIC MAIL <br />City ofRamsey <br />755OSunwmodDrive NVV <br />Ramsey, yNN553O3 <br />Attention: Sean Sullivan and Kurt Ulrich <br />Re: Exclusive Sales Listing Agreement <br />Multiple Land Parcels, City nfRamsey, Minnesota /'Propmrty'1 <br />Vacant Land Exhibit B <br />Dear Sean and Kurt, <br />Thank you for selecting CBRE, Inc. ("CBRE") to represent you. The terms of our engagement are contained <br />in this agreement ("Agreement"). <br />1 This Agreement shall terminate six months from August 1.201S(7erm^). <br />2. During the Term, you appoint uoyour exclusive agent with the right tolist and market the Property <br />for sale and to negotiate agreements for the sale of the Property (which includes portions thereof), <br />If, during the Term, the Property is removed from the market because escrow is opened or an offer <br />to purchase the Property is accepted, and if the sale is not consummated for any reason, then the <br />Tenn will be extended by the longer ofthe number nfdays that (i) escrow was open or (ii) the <br />Property was removed from the market, but in no event more than 180 calendar days in the <br />aggregate. <br />3. We will commit the appropriate number of qualified and licensed professionals to this engagement. <br />Your "Listing Team" is comprised of Brian Pankratz. We will have the right to change members of <br />the Listing Team as necessary and appropriate. The Listing Team shall owe you duties of trust, <br />confidence and loyalty. <br />4. We will offer the Property at an initial |iudnQ price that is per separate agreement and Acceptable <br />to Owner, although the Property may be sold upon such other terms as you may agree. However, <br />it is your right to: (a) approve, modify, reject ordisapprove any and all proposals and offers as well <br />as any prospective purchasers for the Property and (b) adjust the terms and conditions of any offer <br />made, including but not limited to, adjusting the Property's listing price. <br />5. We will work with you to create and implement o sales strategy for the Property, including <br />preparation of appropriate and customary marketing materials (such as an offering brochure). In <br />developing the strategy, wewill rely on(without requirement toverify) any information provided hu <br />us by you, your agents, affiliates and/or any of the Property's managers. However, we will not issue <br />any written marketing materials without your prior written approval. Further, you authorize us to <br />place one ormore signs onthe Property eawedeem appropriate. <br />& The success of this engagement edies, in part, on cooperation and communication between City <br />of Ramsey and CBRE Listing Team. Thenahone, you agree to: (i) provide us with all available <br />information to eoaiat us in marketing the Property; (ii) make CBRE Listing Team aware of all <br />inquiries regarding CBRE listed properties; and (iii) work with CBRE Listing Team to conduct <br />o\Como°ws","om/oDevelopment o/"u/un\Pmne"ies\Cens\Co"r°cxzn/one"/°°\L/"o"oAgreement City mRamsey rp`yClean u"=, <br />/ <br />