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MEMORANDUM OF UNDERSTANDING <br />City of Roseville <br />City Project No.: _______________ <br />PID No.:052923120006 <br />Fee Owner:LLR Investments, LLC <br />As of __________________, 2023, LLR Investments, LLC, a Minnesota limited liability <br />company, Owner of that certain property located at 3070 Long Lake Road, in the City of Roseville <br />(the “City”), County of Ramsey, State of Minnesota, executed and delivered (i) a LIFT STATION <br />UTILITY EASEMENT AGREEMENTand (ii) a TEMPORARY CONSTRUCTION <br />EASEMENT(the “Easements”) <br />This Memorandumis now made and entered as a memorandum of the agreement between the <br />parties relating to the Easements.It is hereby acknowledged and agreed upon between the parties <br />that: <br />1.The Owner has been furnished with the approved estimate of just compensation for the <br />property rights acquired by the City in connection with the Easements. The Owner <br />understands that the property rights acquired by the City as described in the LIFT <br />STATION UTILITY EASEMENT AGREEMENTare permanent and will be <br />governed by the terms and conditions stated in theLIFT STATION UTILITY <br />EASEMENT AGREEMENT. <br />2.In full compensation for the conveyance of the Easements to the City, the City shall <br />pay the Owner $9,000 for the LIFT STATION UTILITY EASEMENT AGREEMENT <br />and $1,000 for the TEMPORARY CONSTRUCTION EASEMENT. Owner <br />understands that payment by the City is contingent upon City Council approval, <br />verification of marketable title, and a lender consent, if needed. City understands that <br />Owner’s grant of the Easements is contingent upon the payment of the foregoing <br />compensation to Owner. <br />3.In the event of a clerical error with respect to the Easements, the partiesagree to <br />cooperate in correcting the error including but not limited to resigning the easement <br />documents. <br />It is understood and agreed that the entire agreement of the parties is contained in this <br />Memorandum of Understanding and the Easementsdated _______________________, 2023, and <br />that these documents and agreements include all agreements between the partieswith respect to <br />the Easements. <br />RS160-1-853894.v1 <br /> <br />