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DocuSign Envelope ID: 45Dl3D3EE-FA34-43[32-854A-1 D513BODB30B <br />the parcel(s) for which a certificate of occupancy was not obtained. <br />7. CONTINGENCIES. In addition to all other requirements and contingencies by the Buyer and <br />Seller herein, Buyer's obligation to acquire the Property and the Purchase Price of $ 1.00 is <br />contingent on the following: <br />a. Satisfactory review of the underwriting by the Seller demonstrating the need of financial <br />assistance in the form of a land- write down of $434.511. <br />b, City Council approval and execution of a Tax Increment Financing Agreement between the <br />Seller and Buyer and or its assigns. <br />c. City Council approval of Business Subsidy for Buyer and or its assigns. <br />d. Hotel feasibility study supporting a viable market in the City of Ramsey, Developer <br />obtaining surreys, environmental and geotechnical reports, wetland studies and such other items <br />Developer determines to be necessary to build and operate the proposed hotel. <br />e. Seller's approval of a replat of the Property. <br />f. Buyer and Seller entering into a Development Agreement on such terms as are satisfactory <br />to Buyer; <br />g. Any shared access easement(s) between the Property and any adjacent property required by <br />Seller is in existence or has been obtained <br />Agreement <br />1. AMEENDMENT APPROVAL. Buyer and Seller hereby approve this First Amendment to <br />Purchase Agreement as modified by the above Recitals, which are hereby incorporated herein. <br />2. REMAINING TERMS. All other provisions of the Purchase Agreement remain unchanged <br />except to the extent inconsistent with the terms of this First Amendment to Purchase Agreement. <br />The terms used in'this First Amendment to Purchase Agreement have the same meaning as in <br />the Purchase Agreement. <br />SELLER: City of Ramsey, a Minnesota municipal corporation <br />By: Dated-, -L <br />32023 <br />Mark E. Kuz'ma, Mayor <br />By: -;m 0. Dated: 2023 <br />Brian Hagen, City Xeministrator <br />BUYER (ASSIGNOR): THE SCHEEBOUT FAMILY LIMITED PARTNERSHIP, LLLP <br />I <br />By: _ fAf a, Dated: 1/25/2023 92023 <br />Emily Aflegra, Partner <br />Page 2 of 4 <br />