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FIRST AMENDMENT <br /> TO <br /> PURCHASE AGREEMENT <br /> This is the First Amendment to the Purchase Agreement by and between the City of <br /> Ramsey, a Minnesota municipal corporation("Seller"), and Garage RE LLC and/or its assigns, <br /> a Minnesota Limited Liability Company("Buyer") and T5 Ramsey LLC a Minnesota Limited <br /> Liability Company ("Assignee") with an Effective Date of February 27, 2024. <br /> Recitals <br /> 1. EFFECTIVE DATE. The Effective Date remains February 27, 2024. <br /> 2. SALE OF PROPERTY. Seller agrees to sell to Assignee, and Assignee agrees to buy from <br /> Seller approximately 1.16 acres 50,529 square feet) of vacant land, legally described as <br /> follows: <br /> Lot 2, Block 1, COR FOUR, to be platted as: <br /> Lots 1 and 2, Block 1, GH Ramsey <br /> PID Number: 28-32-25-23-0023 ("Property") <br /> 3. PURCHASE PRICE. The purchase price for the Property is $279,236 (the "Purchase <br /> Price"). <br /> 4. BUYER. Buyer desires to assign the Purchase Agreement to T5 Ramsey LLC, and Seller <br /> agrees to and accepts said assignment. <br /> Agreement <br /> 1. AMENDMENT APPROVAL. Buyer and Seller hereby approve this First Amendment to <br /> Purchase Agreement as modified by the above Recitals, which are hereby incorporated <br /> 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 <br /> Agreement. The terms used in this First Amendment to Purchase Agreement have the same <br /> meaning as in the Purchase Agreement. <br /> Page 1 of 2 <br />