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C. Pursuant to a Property Exchange Agreement, Falcon Crossing and Sherman have agreed that Falcon Crossing will transfer the Release Parcel to Sherman, and Sherman will transfer the New Parcel to Falcon Crossing, on terms acceptable to both parties. D. The Release Parcel is currently encumbered by an Assessment Agreement dated September 19, 1984, by and among the City, Bullseye Golf Centers, Inc., a Minnesota corporation, and the Assessor, which Agreement was filed with the Ramsey County Registrar of Titles Office on November 15, 1984, as Document No. 768257, and was re-filed with the Ramsey County Registrar of Titles Office on December 11, 1984, as Document No. 769751 (the "Assessment Agreement") E. Falcon Crossing and Sherman have proposed, and the City and the Assessor have agreed, to amend the Assessment Agreement by modifying the legal description attached thereto to include the New Parcel, rather than the Release Parcel. • F. The Mayor and the Clerk of the City are authorized to execute this Amendment on behalf of the City. NOW, THEREFORE, the parties hereto for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, do hereby agree as follows: 1. This Amendment shall be effective upon the later of the recordation of a deed transferring title to the New Parcel to Falcon Crossing and the recordation of a deed transferring title to the Release Parcel to Sherman (the "Effective Date"). 2. Effective on the Effective Date, Schedule A to the Assessment Agreement is hereby deleted in its entirety and replaced by Schedule A to this Amendment. 3. Except as hereby specifically amended, the Assessment Agreement and all of the terms and provisions thereof shall remain unchanged and in full force and effect. 4. This Amendment may be executed in counterparts, each of which shall constitute an original and all of which together shall constitute one and the same instrument. 108339 ~3~