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Addendum "A" <br />ADDENDUM TO PURCHASE AGREEMENT <br />Dated the day of , 2001 <br />Between <br />City of Little Canada ( "Seller ") and <br />CommonBond Communities, its successors and assigns ( "Buyer ") <br />for property located at the Northeast quadrant of First Bank Drive <br />and Market Place Drive, Little Canada, Minnesota ( "Property ") <br />1. Closing Date. The date of closing shall be on or before December 31, 2002. Buyer shall <br />give Seller at least 30 days notice of its intent to close on the Property. <br />2. Additional Buyer Contingencies. Buyer's obligations under the Purchase Agreement are <br />contingent upon Buyer obtaining or determining the following (by the date specified for <br />Buyer's contingencies as set forth in the Purchase Agreement, unless another date is <br />specifically set forth): <br />a. Buyer obtaining, on or before November 30, 2001, a Notice of Selection for <br />Section 202 Fund Reservation from the United States Department of Housing and <br />Urban Development. <br />b. Buyer obtaining a conditional use permit and other necessary governmental <br />approvals required to construct a thirty -six unit addition to Garden Terrace, an <br />existing senior housing building located at 2874 Market Place Drive, Little <br />Canada, Minnesota. <br />c. Buyer obtaining financing and grant commitments acceptable to Buyer, in its sole <br />discretion by November 1, 2002. <br />3. Seller Cooperation. Seller agrees to cooperate with Buyer in obtaining the necessary <br />approvals and permits required by governmental, and other bodies with jurisdiction over <br />the Property, necessary for Buyer to construct its proposed project for the Property. <br />4. Soil Correction Work. If Buyer determines the soil of the Property is not acceptable to it, <br />or determines that there are environmental matters which are unacceptable to it, Seller <br />shall have the right to correct said objection at its sole cost up until the date of closing. <br />5. Earnest Money Refund. If Buyer does not close as a result of exercising a contingency <br />granted to it under the Purchase Agreement and this Addendum, all earnest money shall <br />be retained by the Seller. <br />A: \KrisP \CORRESP \Kris' 2001 \Common Bond Addendum.doc <br />Page 30 <br />