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FIRST AMENDMENT TO MORTGAGE <br />The parties to this First Amendment to Mortgage (this "Agreement ") are the Economic <br />Development Authority of the City of Little Canada, a body corporate and politic established <br />under Minnesota Statutes, Ch. 469 (the "EDA "), and The Villas at Little Canada LLC, a <br />Minnesota limited liability company ( "Developer "). This Agreement is made and is effective as <br />of the 16th day of July, 2004. <br />RECITALS <br />A. The EDA and Developer are the parties to that certain Mortgage, dated as of <br />December 9, 2003 (the "Mortgage "). The Mortgage was recorded in the office of the County <br />Recorder of Ramsey County, Minnesota on , 200 as Document No. <br />B. The EDA and Developer wish to amend the Mortgage to modify the legal <br />description of the property subject to the Mortgage as provided herein. <br />NOW, THEREFORE, for other good and valuable consideration the receipt and <br />sufficiency of which is hereby acknowledged, the parties hereto agree as follows: <br />1. Terms used herein and not otherwise defined herein shall have the meanings <br />given to them in the Mortgage. <br />2. The legal description set forth in the second paragraph on page one of the <br />Mortgage is amended in its entirety to read as set forth on Exhibit A attached hereto. <br />3. Any property not described in Exhibit A hereto is hereby released from the <br />Mortgage. <br />4. Except as provided herein, the terms and provisions of the Mortgage shall remain <br />unchanged and in full force and effect. <br />IN WITNESS WHEREOF, the parties hereto cause this Agreement to be executed as of <br />the date and year first above written. <br />_5021 ?9vI <br />