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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 Capital Real Estate, Inc., a <br />Minnesota Corporation and/or its assigns, ("Buyer") with an Effective Date of January 14, <br />2025. <br />Recitals <br />1. EFFECTIVE DATE. The Effective Date remains January 14, 2025. <br />2. SALE OF PROPERTY. Buyer desires to assign the Purchase Agreement to Bunker Lake <br />Crossing LLC, a Delaware Limited Liability Company, and Seller agrees to and accepts said <br />assignment. Seller agrees to sell to Buyer, and Buyer agrees to buy from Seller <br />approximately 4.01 acres (174,676 square feet) of vacant land, legally described as follows: <br />Part of Outlot D, Waterfront Village, to be platted as: <br />Lots 1, 2 and 3, Block 1, Bunker Lake Crossing <br />Part of PID Number: 28-32-25-22-0107 ("Property") <br />3. PURCHASE PRICE. The purchase price for the Property is $981,000 (the "Purchase <br />Price"). <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 3 <br />