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<br />CITY OF ARDEN HILLS <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />TERMINATION AND RELEASE OF <br />DECLARATION OF COVENANTS AND RESTRICTIONS <br />This Termination and Release of Declaration and Restrictions (“Release”) is made and <br />entered into to be effective as of ____ day of January, 2020 (“Effective Date”) by NORTH <br />AMERICAN LAND COMPANY, LLC, a Minnesota limited liability company (“NALC”) and <br />CITY OF ARDEN HILLS, MINNESOTA (the “City”). <br />RECITALS: <br />A. NALC is the successor-in-interest to CMK Arden Holdings, a Minnesota limited <br />partnership, Declarant under that certain Declaration of Covenants and Restrictions dated May 29, <br />2001 and recorded December 31, 2001 as Document No. 3456570 in the Office of the Recorder <br />of Ramsey County, Minnesota (the “Declaration”), pursuant to which Declarant subjected the <br />property (the “Property”) to certain restrictions that inure to the benefit of the owners of the <br />Property and the City. <br />B. NALC is the fee simple owner of the Property. <br />C. The parties have agreed to terminate the Declaration as of the Effective Date and <br />desire to release the Declaration as a matter of public record, on the terms and conditions more <br />particularly set forth below. <br />AGREEMENT: <br />1.Release of Declaration. For valuable consideration (the sufficiency and receipt of <br />which is hereby acknowledged), the parties hereby release and terminate the Declaration. <br />2.Entire Agreement; Counterparts. This Release is intended to provide recorded <br />notice of the termination of the Declaration. This Release may be executed in any number of <br />counterparts, each of which shall constitute an original and all of which shall constitute but one <br />and the same document. <br />[Signature Pages Follow]