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� � th� si:e of t11e Nletro Transit Proj•.;et and an Outl��t :�, Twin Lakes �ddiiio:l (hereinafter th� •-�. - ��;> "Otitlor'), t�°llicrl may be de��eloped in tile 'ruture; � -� «'HERE:�S. the disaereement o��er the nutu,e of tlle in:erest conve�-ed by the 19�9 Qnit Ciai�n Deed is, accordin� io the O��ner, preventing the O�vne� from elosirg on the �vfeti�o Tia�lsi: u�ansaction: E�'I-IEREAS, in order to facilitate the platting of the Exhibit A Property into a pl�zt to be 1<nown �s '1�win Lakes Addition and the commencement of construction oi the Metro Transit Proje,:t or.� Lot 1, City an:l Owne� ��ish to resolve the disagreemenC over the interpretation of the 19�9 Qu:t Claim Ueed on t11e terr�s cescribed herein; and WI-IERI�:AS, Cent '�'enti�res 2, a ivlinnesota limited liability company, as a contract purchaser oi the Uutlot, also supports and a�rees to the terrras of resolution of the issue descri�ed herein. Nn�ti' `I'II�IZEI� OFt�, IT lS AGRE�D AS FOLLO«'S: Citv shall execute and deli��er to Owncr a quit ciaim deed (hereinaite; the `'Cit}� Quit Cia�m Deed" i conveyin; �o O�:�ner all of City's interest in tlie 10 foot strips affectir:g the Outlot. 2. Owrer sllall prepare a plat to be kno��m as T�t-in I,akes Addition (hereinafter the "Piat"). :�s part of the Plat, the O��ner ��ill dedicate to th� City the I G foot strips on the north au�l �ast sides of I_ot 1 as "public «.'ay." The Plat «�ill also show dedica�ion of 10 foot s:rips on the nort'� and ea�t sides oT the Outlot as "public «ay'�. 3. Lipon receiving the City Quit Claim Deed and reeeiving the necessary land u.se ap�rovals fror.i the City for the T��rin Lakes Addi�i�,n plat, the Owne�r shall proceed to, first, record t�e Quit Claim DE:ed; and; second, record th� Plat, as described in pa�agraph two above. =3. (�nce th� Plat described in paraDraph two is aecepted by EZamsey C;ounty for recordir.g the City �vill promptly begi�l ihe vacatior. process oi the ± 0 foo: strips affecting ih� .�