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3 190485v1 C. After five (5) years, but within seven (7) years of the Approval Date, the City may purchase the Civic Use Land from Landowner for the purchase price of one hundred percent (100%) of the actual land cost paid by the Landowner to Ramsey County for the land as documented in the MCPD (pro rated if part of a larger parcel). The City will also pay one hundred percent (100%) of the costs incurred by the Landowner for the construction of the Improvements. D. If at any time within seven (7) years from the Approval Date, the City determines it no longer wants its Option, then the City will promptly deliver a written termination notice to Landowner and rezone the property to TC3 in accordance with the TRC applicable at that time. E. If the City does not exercise the Option within 7 years after the Approval Date, the Option automatically expires seven (7) years from the Approval Date and the City agrees to rezone the property to TC3, within 2 months after the 7th anniversary of the Approval Date, in accordance with the TRC applicable at that time. F. The City may only exercise its Option if it has determined to and is ready to construct a Civic Use, as defined in the TRC, and said use has been approved by the Landowner. 2. Purchase Price for Option. The City shall pay to the Landowner the sum of One 00/100 Dollars ($1.00) in consideration of the Landowner granting the City the Option described herein. 3. Notice of Exercise of Option. If the City desires to exercise the Option and has obtained Landowner’s written approval for the Civic Use, the City shall notify the Landowner in writing that the City is exercising the Option granted by the Landowner under the terms, covenants and conditions of this Agreement (“City Notice”). The City’s Notice shall set forth the proposed date (“Closing Date”) of the closing under the terms of this Agreement (“Closing”), which Closing