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<br />2. The City shall, upon its approval and execution of this Agreement, return the earnest <br /> <br />money in the amount of Forty Thousand Dollars ($40,000.00) to Royal Oaks. <br /> <br />3. For good, sufficient, and valuable consideration as set forth in paragraphs 1 and 2 above, <br /> <br />each party does hereby release the other, their respective agents, employees and officers <br /> <br />from all claims, duties, obligations and rights under the Purchase Agreement. <br /> <br />Dated: <br /> <br />Royal Oaks Realty, Inc. <br /> <br />BY: <br />its: President <br /> <br />Subscribed and Sworn to before me, a Notary Public, this _ day of , 2008 <br />by Marcel Eibensteiner, President of Royal Oaks Realty, Inc., a Minnesota Corporation, on <br />behalf of the Corporation. <br /> <br />Notary Public <br /> <br />Dated: City of Arden Hills <br /> <br />BY: <br />its: Mayor <br /> <br />Subscribed and Sworn to before me, a Notary Public, this day of <br />by Stan Harpstead, Mayor of the City of Arden Hills, Minnesota, on behalf ofthe <br />City.. <br /> <br />,2008 <br /> <br />Notary Public <br />