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PARK LAND ACQUISITION AGREKKENT This Agreement made and entered into this day of and between the City of Roseville, Minnesota, "cit and the County of Ramsey f X4nnesota* ( County � AREAS the it entered into an agreement with the St. Paul � - � 1��7 titled hand Sale Board of Water Commissioners dated August 15, r and Purchase A (attached as Exhibit 1 hereto) , involving the �reement purchase of 38.59 acres of land in the City for $725,252 and option to purchase of 13,53 additional acres of Yard located in the City for the option tion rice of $250,000 hereafter referred to in the aggregate as the Waterworks Property" shows as parcels Ar B{ Cr EIF and F on the diagram attached as Exhibit 2 hereto and legally described on Exhibit 3 attached hereto; and, WHEREAS,, the Waterworks Property will become part of a proposed ark and en space corridor consisting of other City and prep p P county land as shown on Exhibit 4 and as referred to as the p Integrated Corridor"; and, WHEREAS., the City,, pursuant to its agreement with the St., Paul Board d of Water Commissioners, has acquired the 38 - 59 acres of the Waterworks Property Parcels Ar B, C,, and P of Exhibit 2) and has requested the County to Finance the entire purchase opt ion, and, WHEREAS,, the County' is willing to finance the purchase option as set forth herein in consideration of the County receiving an undivided one quarter fee interest in the entire Waterworks property, the benefits of the agreements herein concerning the development of a master plan for the Integrated Corridor and the other conditions set :.orth herein NP NOW, FORE, the parties hereby agreed as follows 1* Exercise of tion The City shall exercise its option to- purchase the 13 .53 acre P ortion of the Waterworks Property identified as Parcel E on Exhibit 2 and 3, on or be f ore December 31, 19980 2 ., iro of Option The County shall, upon 60 days prior written notice from the City, provide the funds necessary for the City to exercise said option, up to a total of $250,000, by transferring the three annual installments of $83, 333 -00 . The first installment shall be due sixty days after receipt of written notice by the County from the City that it intends to close on the exercise of said option. The second and third installments of $83,333-00 shall be transferred to the City on or before the first and second