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<br />EXCLUSIVE NEGOTIATION AGREEMENT <br /> <br />. <br /> <br />1. Parties. The parties to this Exclusive Negotiation Agreement are the City of <br />Ramsey, a Minnesota municipal corporation (the "City") and RCM - Minnesota Corporation, a <br />Minnesota corporation ("Muir"). <br /> <br />2. Effective Date. This Agreement is effective as of July _,2006 (the "Effective <br />Date"). Unless sooner terminated pursuant to Section 5.5, Section 6 or Section 8, this Agreement <br />expires and is of no further force and effect as on January 10, 2007. <br /> <br />3. Recitals. <br /> <br />3.1 Recital One. The City desires to encourage and facilitate the development <br />and redevelopment of the real property referenced on the attached Exhibit <br />A (the "Development Property"). To that end, the City has solicited <br />development proposals from various developers and, after reviewing those <br />proposals, the City has selected Muir as. a potential developer for the <br />Development Property. . <br /> <br />3.2 Recital Two. To ensure that a developer is able to assemble the <br />Development Property for development and redevelopment, the City has <br />commenced eminent domain proceedings in Anoka County District Court <br />with respect to each parcel that is a part of the DevelopmentProperty <br />(each, a "Parcel") and those proceedings are currently pending in An()ka . <br />Comity District Court. <br /> <br />3.3 Recital Three. The City and Muir are executing this Agreement: <br /> <br />(a) 'to set forth the City's binding agreement not to seek to negotiate a <br />. development agreement for the development and redevelopment of <br />the Development Property with any third parties during the term of <br />this Agreement; <br /> <br />(b) to set forth the City's and Muir's current understanding of certain <br />terms that the City and Muir anticipate will be included in a final <br />Development Agreement to be negotiated between the City and <br />Muir; <br /> <br />(c) to set forth the City's and Muir's current understanding of the <br />timing of Muir's submission of applications for various City <br />approvals associated with the development to the City; and <br /> <br />(d) <br /> <br />to set forth Muir's binding 'agreement to reimburse the City for a <br />portion of certain costs the City has incurred and will incur in <br />connection with this development at the time Muir soq.bmits i~ <br />request for preliminary plat approval to the City for the Planning <br />Commission's and the City Council's review and consideration. <br /> <br />. <br /> <br />1919544v3 <br /> <br />-274- <br />