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AMENDMENT NO. 1 TO LOAN AGREEMENT <br />BETWEEN THE METROPOLITAN COUNCIL AND <br />THE CITY OF RAMSEY FOR <br />HIGHWAY RIGHT-OF-WAY ACQUISITION <br />LOAN AGREEMENT NO. L-1 1-01 <br />WHEREAS, the Metropolitan Council ("the Council") and the City of Ramsey ("the Recipient") <br />have entered into a loan agreement for protective acquisition of highway right-of-way, which <br />loan agreement is dated and is identified as Loan Agreement <br />No. L-11-01 ("Loan Agreement"); and <br />WHEREAS, the Loan Agreement provides that the Council will advance to the Recipient the <br />Recipient's actual acquisition costs for the real property described in Exhibit A to the Loan <br />Agreement in an amount not to exceed $ 638,727.00 and <br />WHEREAS, Council and Recipient agree that it is in their best interests to amend the Loan <br />Agreernent to Reflect Recipient's actual acquisition cost; <br />NOW, THEREFORE, for one dollar and other good and valuable consideration, the sufficiency <br />and receipt of which is hereby acknowledged by Council and Recipient, the Loan Agreement <br />between the Metropolitan Council and the City of Ramsey for Protective Acquisition of <br />Highway Right of Way, Loan Agreement No, L-11-01 is hereby amended as follows: <br />1. Section I, Paragraph 1.01 is hereby amended by deleting $638,727.QO and substituting <br />therefore 653,728.00. <br />2. Section I, Paragraph 1.02 is hereby amended by deleting $60,000.00 from the third <br />sentence of said Paragraph 1.02 and substituting therefore the sum of $QO1 00 ; <br />3. In all other respects the Loan Agreement remains unchanged. <br />APPROVED AS TO FORM: <br />Legal Counsel <br />METROPOLITAN COUNCIL <br />By <br />Arlene McCarthy, Director <br />Metropolitan Transportation Services <br />APPROVED AS TO FORM: CITY OF RAMSEY <br />BY �-`l <br />City Attorney Bob Rim <br />By <br />Todd Bia[on EZ Auto <br />Kurt Ulrich, City Administrator <br />