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Rosevilie Acquisitions Three, LLC 2575 Fairview Avenue North, Suite 250 Roseville, Minnesota 55113 April 24, 2009 City of Rosevilie Attn: William J. Malinen, City Manager 2b60 Civic Center Drive Roseville, Minnesota 55113 Re: 2690 Cleveland Avenue N- Former Cummins Diesel Property Offer af Just Compensation - Parcel 2 Twin Lakes Infrastructure Impravements - Phase I WSB Project #1814-00 Dr. Mr. Malinen: This letter will confirm that on Apri122, 2009, Roseville Acquisitions Three, LLC received from the City of Rosevil�e a letter dated Aprii 8, 2009 together with an Offer to Purchase a portion of the property located at 2690 Cleveland Avenue N(Former Cummins Diesel Property} (the "Property"), a copy of an appraisal perfarmed by Da�len, Dwyer and Foley, Inc., a three page handout titled "Acquisition Inforrnation far Property Owners," Acquisition and Appraisal Surrimary showir�g a val�e of $],031,2Q0 a�ld a parcel sketch. We are pleased to accept your offer referenced in the April 8, 2009 letter, subject t� the fallowing clarifications andlor modiftcations: Demolitifln. The City of Roseville agrees to pay all costs necessary to completely demolish and remove all buiIdings located irnmediateEy adjacent to the Properiy to be conveyed to t}�e City (the "Future Right of Way") on or before June l, 2009. 2. Mount R3dge Road. T�e City afRosevilie agrees at its sole cost and expense to fa�Ce all necessary action (inc]uding, �Jithouf lirnitation, vacation proceedin�s, wriften conveyance, termination of rig�ts} to, on or before June 1, 2009, (i) vacate the portion of Mount Ridge Raad and any easenlents located therein ��hich abut the Property and {ii) cause ati�nership af one half of such road to be vested i�l fee simple in the name of the adjacent property owners Eocated to the east and west af the road. Fee simple ownership in Mount Ridge Road will be transferrEd to the adjacent property awners without any rec�uirement af payment io the City of Roseville. Co�ldition of the Property. The City of Roseville agreES that it is acquiring the Future Rigt�t of Way "as is" and i�i its curr�nt co�ldition without any represeniation whatsaever as to the condition of s�ach property or its fitness for any intended use of such pr�perty by the City of Rosevilie. 4. Goverrvnent Gz��It Futlds. In the event tl�e Properiy is to be assessed or f�as been assessed for the cast to construct raadways or for the cost to construct the i�lfi-ast�cture or- reznediate cnntaminated 6!