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1 THIS DOCUMENT WAS DRAFTED BY AND WHEN RECORDED RETURN TO: MICHAEL BEST & FRIEDRICH LLP Attn: Paul R. Jonas 790 N. Water Street, Suite 2500 Milwaukee, Wisconsin 53202 _____________________________________________________________________________________ PARKING LICENSE AGREEMENT THIS PARKING LICENSE AGREEMENT (this “Agreement”) is dated as of ____________, 2021 (the “Effective Date”), between BETHEL UNIVERSITY, a Minnesota nonprofit corporation (“Licensor”), and ARDEN HILLS RE, LLC, a Minnesota limited liability company (“Licensee”). RECITALS A. Licensor is the owner of certain real property located at 2 Pine Tree Drive, Arden Hills, Minnesota (the “Property”), which Property is described in Exhibit A attached hereto, where Licensor maintains a parking lot for its use. B. Licensee intends to build a senior residence building on real property it is purchasing from BETHEL UNIVERSITY (the “Senior Living Property”), which Senior Living Property is described in Exhibit B attached hereto, and which Senior Living Property lies adjacent to the Property. C. Licensor wishes to grant to Licensee an exclusive license to use a specific portion of the Property, comprised of twenty-five parking stalls and associated driveways providing access to and from such stalls as depicted on Exhibit C attached hereto (the “License Area”) for vehicular parking purposes, on the terms and conditions set forth in this Agreement. NOW, THEREFORE, Licensor and Licensee agree as follows: 1. License. Licensor hereby grants to Licensee and Licensee’s tenants, employees, guests, contractors, and invitees (collectively, the “Licensee Parties”) an exclusive license to enter on and cross over the License Area, and to use the License Area for the purpose of parking up to twenty-five (25) passenger cars in the marked spaces situated therein (the “License”). The Licensee Parties shall have the right, subject to the terms of this Agreement, to access the License Area and to park vehicles in the License Area 24 hours per day, 7 days per week. 2. Use. Use of the License Area by the Licensee Parties shall be subject to such rules and regulations as may be promulgated by Licensor from time to time. Licensee shall use the License Area only to access the parking stalls situated therein and for the parking of standard passenger vehicles, and for no other purposes. Licensee’s use of the parking lot shall at all times conform to all applicable laws, ordinances, regulations and codes. July 6th