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1 <br />Amendment to Prelim Devel Agmt v2 <br />AMENDMENT NO. 1 TO PRELIMINARY DEVELOPMENT AGREEMENT <br /> <br /> <br /> THIS AMENDMENT NO. 1 TO PRELIMINARY DEVELOPMENT AGREEMENT <br />(“Amendment”) is made as of the 31st day of October, 2016, by and between the TCAAP JOINT <br />DEVELOPMENT AUTHORITY, a Minnesota joint powers entity (“JDA”) and ALATUS ARDEN HILLS <br />LLC, a Minnesota limited liability company (“Developer”). <br /> <br />RECITALS: <br /> <br />A. The JDA and the Developer are the parties to that certain Preliminary Development <br />Agreement dated June 6, 2016 (the “Agreement”). <br /> <br />B. JDA and Developer wish to amend the Agreement to, among other things, reflect changes <br />in certain dates set forth in the Agreement. <br /> <br />NOW THEREFORE, in consideration of the premises and for good and valuable consideration, the <br />receipt and sufficiency of which are hereby acknowledged, parties agree as set forth below. <br /> <br />AGREEMENT: <br /> <br />1. Definitions. Unless otherwise specifically stated herein, all capitalized terms used in this <br />Amendment will have the meanings ascribed to them in the Agreement. <br /> <br />2. Amendments. <br /> <br />(a) In each and every place in the Agreement where the date “October 31, 2016” <br />appears, said date is hereby deleted and the date “February 28, 2017” substituted therefor. <br /> <br />(b) In each and every place in the Agreement where the date “December 31, 2016” <br />appears, said date is hereby deleted and the date “May 31, 2017” substituted therefor. <br /> <br />3. Reference to and Effect on the Agreement. <br /> <br />(a) Upon the effectiveness of this Amendment, each reference in the Agreement to the <br />“Agreement,” “this Agreement,” “hereunder,” “hereof, “herein” or words of like import referring <br />to the Agreement shall mean, and be a reference to the Agreement as amended hereby. <br /> <br />(b) Except as specifically set forth herein, the Agreement remains in full force and <br />effect and is hereby ratified and confirmed. <br /> <br />(c) Wherever there exists a conflict between this Amendment and the Agreement, the <br />provisions of this Amendment shall control. <br /> <br />4. Governing Law. This Amendment shall be governed by and construed in accordance with <br />the laws of the State of Minnesota. <br /> <br />5. Headings. Section headings in this Amendment are included herein for convenience of <br />reference only and shall not constitute a part of this Amendment for any other purpose. <br />