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FIRST AMENDMENT <br />TO THE <br />PURCHASE AGREEMENT <br />This is the First Amendment to the Purchase Agreement ("First Amendment") by and <br />between the City of Ramsey, a Minnesota municipal corporation ("Seller"), and Centra Homes <br />LLC, a Minnesota Limited Liability Company and/or its assigns ("Buyer"), with an Effective Date <br />of August 17, 2023. <br />Recitals <br />1. ORIGINAL AGREEMENT. Seller and Buyer entered into a certain Purchase Agreement dated <br />effective as of August 17, 2023 (the "Original Agreement"), for the purchase and sale of <br />approximately 16.3 acres located in Anoka County, Minnesota and legally described as set forth <br />in the Original Agreement and defined therein as the Property. Seller and Buyer desire to amend <br />certain terms of the Original Agreement as specifically set forth in this First Amendment and only <br />the terms specifically set forth in this First Amendment. <br />2. EFFECTIVE DATE. The Effective Date remains August 17, 2023. <br />3. SALE OF PROPERTY. Seller agrees to sell to Buyer, and Buyer agrees to buy from Seller <br />approximately 16.3 acres (710,028 SF) of vacant land, legally described as follows: <br />see attached Exhibit A <br />PID Number: Portion of 28-32-25-22-0058 ("Property"). <br />4. CONSTRUCTION DEADLINE. Section 28 of the Original Agreement is hereby amended in <br />its entirety as follows: <br />28. CONSTRUCTION DEADLINE. The project consists of 103-unit owner occupied <br />detached townhomes. Buyer shall obtain certificates of occupancy for the construction of <br />forty (40) single family townhomes pursuant to the following schedule: <br />Construction Deadline Schedule: <br />Eight (8) certificates of occupancy within sixteen (16) months after Closing; <br />A total of sixteen (16) certificates of occupancy within twenty-eight (28) months <br />after Closing; <br />A total of twenty-four (24) certificates of occupancy within forty (40) months after <br />Closing; <br />A total of thirty-two (32) certificates of occupancy within fifty-two (52) months of <br />Closing; <br />A total of forty (40) certificates of occupancy within sixty-four (64) months of <br />Closing. <br />