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AGREEMENT <br />THIS AGREEMENT is made and entered into this day of <br />1998 by and between the City of Little Canada, a Minnesota municipal corporation (hereinafter <br />referred to as the "City "), and the Little Canada Historical Society, Inc., a Minnesota nonprofit <br />corporation (hereinafter referred to as the "LCHS "). <br />WITNES SETH: <br />WHEREAS, the City and the LCHS recognize the importance of preserving Little <br />Canada's unique heritage; and <br />WHEREAS, the City has determined a community museum would assist in preserving <br />Little Canada's unique heritage, and also benefit the citizens of Little Canada; and <br />WHEREAS, the LCHS has developed a collection of artifacts and records of local <br />historical significance for many years; and <br />WHEREAS, the LCHS is a nonprofit corporation exempt from the payment of federal <br />income taxes under Section 501 (c) (3) of the Internal Revenue Code; and <br />WHEREAS, the LCHS and the City are desirous of having a facility to display items of <br />local historical significance to the public as a museum, while also being adequate in size for <br />storage of LCHS's artifacts and records; and <br />WHEREAS, the City recognizes the dedicated and selfless efforts the volunteer members <br />of LCHS render to the community in providing this civic service; and <br />WHEREAS, many options have been studied by City to address the community museum <br />LCHS's space requirements; and <br />WHEREAS, the most viable option to meet the long -term needs of the community is to <br />construct an addition to the Little Canada City Center at an estimated cost of Two Hundred Fifty <br />1 <br />Page 73 <br />