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ASSIGNMENT OF EXCLUSIVE OPTION AGREEMENT <br />THIS ASSIGNMENT made this day of , 2000 between the City of <br />Little Canada, a Minnesota municipal corporation (the "Assignor "), and Town & Country Center, LLC, a <br />Minnesota limited liability company (the "Assignee "). <br />RECITALS: <br />Assignor, on August 14, 1996, entered into an Exclusive Option Agreement (the "Option <br />Agreement ") with Eugene M. Delonais, now deceased, whereby Assignor was granted an option to purchase <br />certain real property located in Little Canada, Minnesota, a copy of the Option Agreement is attached. <br />Assignor, on February 23, 2000 entered into an Amendment to Exclusive Option Agreement (the <br />"Amendment ") with Dennis Evans, Kathleen M. DeLonais- Adams, and Virgil Drusch, as co- trustees of the <br />certain Revocable Trust under that certain Amendment and Restatement of Eugene M. Delonais Revocable <br />Trust Agreement effective September 19, 1997 (the "Owner "). <br />The Option Agreement and Amendment are, by their terms, assignable, and the performance of the <br />duties thereunder delegable, and Assignee desires to acquire the rights and is willing to perform the duties of <br />Assignor thereunder. <br />NOW, THEREFORE, in consideration of the terms contained herein, the sufficiency of which is <br />hereby acknowledged, the parties agree: <br />1. Assignment. Assignor hereby assigns to Assignee all of its interests in the Option Agreement <br />and Amendment with Owner. <br />2. Performance of Duties. Assignee hereby assumes and agrees to perform all of Assignor's duties <br />under the Option Agreement and Amendment with Owner. <br />3. Indemnification. Assignee hereby agrees to indemnify and hold Assignor harmless from any and <br />all liabilities or damages Assignor may suffer as a result of the Option Agreement and <br />Amendment. <br />IN WITNESS WHEREOF, the parties have signed this instrument as of the date first above written. <br />ASSIGNOR: ASSIGNEE• <br />City of Little Canada Town & Country Center, LLC. <br />By: By: <br />Michael I. Fahey, Mayor Robert E. Grootwassink, Manager <br />By: By: <br />Joel R. Hanson, City Administrator Mark A. Hotzler, Manager <br />Page 123 <br />