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<br />DRAFT <br /> <br />AMENDED AND RESTATED <br />EXCLUSIVE NEGOTIATION AGREEMENT <br /> <br />1. Parties. The parties to this Amended and Restated Exclusive Negotiation <br />Agreement are the City of Ramsey, a Minnesota municipal corporation (the "City") and RCM- <br />Minnesota Corporation, a Minnesota corporation ("Muir"). <br /> <br />2. Effective Date. This Agreement is effective as of JHly- ,2006 <br />(the "Effective Date"). Unless sooner terminated pursuant to Section 5.5, Section 6 or Section <br />&-;7.5. this Agreement expires and is of no further force and effect as on January 10, 2007.of <br />.2007. This AQ:reement renlaces. in its entirety. the Exclusive NeQ:otiation <br />AQ:reement between the City and Muir dated as of Julv 26. 2006. and the City and Muir <br />aQ:ree that the Exclusive NeQ:otiation AQ:reement dated as of Julv 26. 2006 is of no further <br />force and effect. <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 Development <br />Propertyidentified on Exhibit A (each, a "Parcel") and those proceedings <br />are currently pending in Anoka County 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 />1966223vRed; 1966223vl to 1919544v4; 11/16/06 <br />