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Document No.: 2362834.006 ABSTRACT <br />04/21/2022 09:27 AM <br />Fees/Taxes In the Amount of: $46.00 <br />Pamela J. LeBlanc <br />Anoka Cty Property Records and Taxation <br />Property Tax Administrator and <br />Recorder/Registrar of Titles <br />Deputy: klhenche <br />11 <br />11 <br />11 <br />CITY OF RAMSEY <br />DEVELOPMENT AGREEMENT FOR OPPIDAN <br />111 <br />11 <br />11 <br />11 <br />iui <br />This Agreement (hereinafter the "Agreement") is dated as of this 12th, day of April, 2022 and is by <br />and between the CITY OF RAMSEY, a Minnesota municipal corporation (the "CITY") and Ramsey <br />Industrial Owner 1 LLC, a Delaware limited liability company ("RAMSEY 1 OWNER"), Ramsey <br />Industrial Owner 2 LLC, a Delaware limited liability company ("RAMSEY 2 OWNER"), and Ramsey <br />Industrial Owner 3 LLC, a Delaware limited liability company ("RAMSEY 3 OWNER", collectively, <br />with Ramsey 1 Owner and Ramsey 2 Owner, individually or collectively, as the context may require, <br />"OWNER") and Oppidan Incorporated, a Corporation under the laws of Minnesota (the <br />"PERMITTEE"). <br />Recitals <br />A. Concurrently herewith, RAMSEY INDUSTRIAL OWNER LLC ("OWNER <br />PARENT"), the sole owner and member of each Owner, has received approval from the CITY to <br />subdivide the Subject Property (as defined below) and plat the same as Amsterdam Extension 2nd <br />Addition (the "Plat"). <br />B. Upon the execution and recordation of the Plat, OWNER PARENT intends to <br />convey the land legally described on the attached Exhibit A-1 (the "Ramsey 1 Property") to <br />RAMSEY 1 OWNER such that RAMSEY 1 OWNER will be the owner of the Ramsey 1 <br />Property. <br />C. Upon the execution and recordation of the Plat, OWNER PARENT intends to <br />convey the land legally described on the attached Exhibit A-2 (the "Ramsey 2 Property") to <br />RAMSEY 2 OWNER such that RAMSEY 2 OWNER will be the owner of the Ramsey 2 <br />Property. <br />D. Upon the execution and recordation of the Plat, OWNER PARENT intends to <br />convey the land legally described on the attached Exhibit A-3 (the "Ramsey 3 Property", <br />together with the Ramsey 1 Property and Ramsey 2 Property, individually or collectively, as the <br />context may require, the "Subject Property") to RAMSEY 3 OWNER such that RAMSEY 3 <br />OWNER will be the owner of the Ramsey 2 Property. <br />its <br />u <br />1 <br />