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CIRCLE 0 <br />CIRCLE K STORES INC. <br />LETTER OF INTENT — PURCHASE <br />Date: 8/7/24 <br />To: City of Ramsey <br />C/O Brian Pankratz CBRE <br />This Letter of Intent to Purchase (the "Letter") between the Seller and Buyer (defined below and <br />sometimes collectively referred to herein as "Party" or "Parties") does not create any legal obligation, <br />except solely for any provision(s) below that (a) expressly state they are a representation and warranty, or <br />(b) expressly state they are intended to be binding. Consummation of the transaction contemplated hereby <br />is subject in all respects to the execution and delivery of a definitive purchase and sale agreement (the <br />"Contract"), which neither Party commits to doing by signing this Letter. <br />Seller: City of Ramsey <br />Seller's Address: 7550 Sunwood Dr NW <br />Ramsey. MN 55303 <br />Seller's Counsel: TBD <br />Buyer: Holiday Stationstores, LLC <br />Buyer's Address: 6000 Clearwater Drive #300 <br />Minnetonka, MN 55343 <br />Property Approximately 3.00 acres located at PID 28-32-25-22-0058 Ramsey, <br />Description: Minnesota further shown on Exhibit "A". together with all improvements <br />thereon, if any, and all rights, and appurtenances pertaining thereto (referred <br />to as the "Property"). <br />Purchase Price: $914,760 ($7.00 PSF) <br />Earnest Money $5,000.00 to be delivered within 15 business days after Contract execution, <br />Deposit: to be applied against the Purchase Price at Closing and refundable as further <br />provided in the Lease. <br />