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AMENDMENT NO, I TO LOAN AGREEMENT <br /> BETWEEN THE METROPOLITAN COUNCIL AND <br /> THE CITY OF RA.MSEY FOR <br /> HIGHWAY RIGHT-OF-WAY ACQUISITION <br /> LOAN AGREEMENT NO, L-05-02 <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 February 9, 2005 and is identified as Loan Agreement No, L--05-02 <br /> ("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 $13,140,; and <br /> WHEREAS, Council and Recipient_agree that it is in their best interests to amend the Loan <br /> Agreement 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 Hardship Acquisition of Highway <br /> Right of Way, Loan Agreement No. L-05-02'is hereby amended as follows: <br /> I. Section I, Paragraph 1,01 is hereby amended by deleting $1,1_33,140 and substituting <br /> therefore $1,165,249. - <br /> 2. Section I, Paragraph 1,02 is hereby amended by deleting$13,140 from the fourth <br /> sentence of said Paragraph 1.02 and substituting therefore the sum of$45,249, <br /> 3. In all other respects the Loan Agreement remains unchanged. <br /> APPROVED AS TO FORM: METROPOLITAN COUNCIL <br /> Le al Counsel � Arlene McCa h Di ect r <br /> g y� <br /> Metropolitan Transportation <br /> Services <br /> APPR VED AS TO FORM; CITY OF RA.MSEY <br /> City Attorney Tom Gamec, May <br /> EO <br /> By r <br /> K rt Ulrich, City Administrator. <br /> Ramsey(Hamilton,6615 Hwy. 1 D) <br />