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Little Canada is authorized to enter into this Agreement pursuant to the City Council <br />approval dated . The Council is authorized to enter into this Agreement <br />pursuant to Business Item 2009 -456 dated January 13, 2010. <br />Further, the parties specifically acknowledge and agree that it is their intent by this <br />Agreement that as provided in this Agreement, Met Council will transfer to Little Canada <br />and Little Canada will accept VH -422 and further, that Met Council, upon completion of <br />the repair items specifically listed in this Agreement, will transfer to Little Canada and <br />Little Canada will accept ownership and all responsibility and liability for maintenance <br />and operation of the L-10 System. <br />NOW, THEREFORE, for mutual consideration, the sufcieney of which has <br />been agreed to by the Parties, Little Canada and Met Council agree as follows: <br />I. <br />Purpose of Agreement <br />1. The purpose of this Agreement is to set forth the terms and conditions with respect <br />to the transfer of the Little Canada Interceptor from Met Council to Little Canada. For <br />purposes of this Agreement, the Little Canada hnterceptor is the interceptor shown on <br />Exhibit A attached hereto and made a part hereof and consists of the following: <br />a. Interceptor 1 -VH-422 from MIT 5 to MI-I 3A <br />h. Lift Station L10 is located at 2505 Edgerton Street, Little Canada, MN <br />c. Interceptor I -LC -420 from County Road D E and Labore Road to Lift Station <br />L10. <br />d. Interceptor 1 -LC -421 from new MH 125A (west of Noel Drive) to the 1 -LC- <br />420 interceptor intersection located along Keller Parkway. <br />Interceptor 1 -LC -420 and 1 -LC -421 as described above in Section I(1), (c) and (d), are <br />referred to as the "L10 Gravity Pipe System ". <br />Lift Station L10 and Interceptor 1 -LC -420 and 1 -LC -421 as described above in Section I <br />(I), (h) (c) and (d), are referred to as the "L10 System." <br />The L10 System and VH -422 are collectively referred to as the Little Canada Interceptor <br />and provisions in this Agreement which refer to the Little Canada Interceptor shall be <br />applicable to both the L10 System and VII -422. <br />For purposes of this Agreement: Interceptor 1 -VH -422 as described above in Section I <br />(1) (a) is referred to as "VH -422." Lift Station L -10 as described above in Section 1 (I) <br />(b) is refen•ed to as "Lift Station L10." <br />The Parties agree that the purpose of this Agreement is to serve as the Agreement <br />governing transfer pursuant to Minnesota Statutes § 473.5111, subd. 7(b). <br />3 <br />5 <br />