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RELEASE OF OBLIGATIONS <br />WHEREAS, The City of Little Canada, a Minnesota municipal corporation (the "City ") <br />and Towne & Country Center Limited Liability Company, a Minnesota limited liability company <br />(the "Developer ") entered into a Development Agreement that is dated February 29, 2000 and <br />was subsequently recorded on May 3, 2000 as Document No. 3321085 in the Ramsey County <br />Recorders Office, and <br />WHEREAS, said Development Agreement encompasses the property described on <br />Exhibit A attached hereto, and <br />WHEREAS, Developer has dedicated to City the necessary public right of way and City <br />has purchased the remaining property from Developer as of February 14, 2003: <br />NOW, THEREFORE, this document hereby certifies that Developer and City have <br />hereby satisfied all of their respective obligations under the Development Agreement by virtue of <br />Developer's dedication of required public right -of -way the City's purchase of the remaining <br />property. As a result, the aforementioned Development Agreement no longer encumbers the <br />property as identified on Exhibit A. <br />CITY OF LITTLE CANADA <br />Michael I. Fahey <br />Mayor <br />Joel R. Hanson <br />City Administrator <br />