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<br />\...- . -- /BRIGGS&MORGAN <br /> <br />Fax:6512236645 <br /> <br />Dee 11 '98 15:24 <br /> <br />P.04 <br /> <br />., <br /> <br />2.7 Recital Seven. The Subject Property has an area of approximately 197,338 <br />square feet. The sum of the area of the Subject Property and the property the City conveyed <br />to Opus in November of 1997, as recited in Section 2.5 above, is approximately 389,594 <br />square feet. <br /> <br />3. Memorandum of Agreement. The City and Opus are executing this Closing <br />Memorandum to document each Party's acknowledgment that the City's conveyance of the Subject <br />Property to Opus contemporaneously with the execution oftbis ~emorandum of Agreement, when <br />combined with the City's conveyance to Opus of the property described in Section 2.5 above, <br />satisfies each Party's respective obligations relating to the Part n Redevelopment Property under <br />Section 3.1(1) and 3.1(3) of the Development Agreement. <br /> <br />CITY OF ROSEVlLLE <br /> <br />By <br />Daniel Wall <br />Its Mayor <br /> <br />By <br />Steven R Sarkozy <br />Its City Manager <br /> <br />OPUS NOFlTHWEST L.L.C. <br /> <br />By <br />Its <br /> <br />1005006.1 <br /> <br />2 <br />