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AMENDMENT NO. 1 TO LOAN AGREEMENT <br />BETWEEN THE METROPOLITAN COUNCIL AND <br />THE CITY OF RAMSEY FOR <br />HIGHWAY RIGHT-OF-WAY ACQUISITION <br />LOAN AGREEMENT NO. L-06-09 <br />WHEREAS, the Metropolitan Council ("the Council") and the City of Ramsey ("the Recipient") <br />have entered into a loan agreement for protective acquisition of highway right-of-way, which <br />loan agreement is dated July 5, 2006 and is identified as Loan Agreement No. L-06-09 ("Loan <br />Agreement"); and <br />WHEREAS, the Loan Agreement provides that the Council will advance to the Recipient the <br />Recipient's actual acquisition costs for the real property described in Exhibit A to the Loan <br />Agreement in an amount not to exceed $15,880; and <br />WHEREAS, Council and Recipient agree that it is in their best interests to amend the Loan <br />Agreement to Reflect Recipient's actual acquisition cost; <br />NOW, THEREFORE, for one dollar and other good and valuable consideration, the sufficiency <br />and receipt of which is hereby acknowledged by Council and Recipient, the Loan Agreement <br />between the Metropolitan Council and the City of Ramsey for Acquisition of Highway Right of <br />Way, Loan Agreement No. L-06-09 is hereby amended as follows: <br />1. Section I, Paragraph 1.01 is hereby amended by deleting $1,749,880 and substituting <br />therefore $1,762,491. <br />2. Section I, Paragraph 1.02 is hereby amended by deleting $15,880 from the third sentence <br />of said Paragraph 1.02 and substituting therefore the sum of $28,491. <br />3. In all other respects the Loan Agreement remains unchanged. <br />APPROVED AS TO FORM: METROPOLITAN COUNCIL <br />q-/ %L �1'l ice• <br />vL�egal Counsel Arlene McCart y�Direc�tor <br />Metropolitan Transportation <br />Services <br />APPR VED AS TO FORM: <br />City Attorney <br />Ramsey (Nedegaard/Anchors Away 6745 Hwy. 10) <br />CITY OF RAMSEY <br />Tom Gamec, Mayor <br />.: V y <br />By <br />urt Ulrich, City Administrator <br />