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FIRST SUPPLEMENT TO PURCHASE AGREEMENT <br />The undersigned parties to a Purchase Agreement, dated the <br />day of September, 1987, on property known as 657 LaBore <br />Road, Little Canada, Minnesota, hereby mutually agree to amend <br />said contract as follows: <br />1. Buyer agrees to provide Seller with a title insurance <br />binder for an owner's title insurance policy in the amount of <br />$70,000.00 indicating marketable title for the property which is <br />legally described as follows: <br />The South 250 feet of Lots 3 and 4, Auditor's <br />Subdivision No. 43, Ramsey County, Minnesota, <br />as measured along the East line of said Lot 4 <br />and the West line of said Lot 3 thereof. <br />The Buyer shall pay the cost of the title insurance policy. The <br />title insurance policy will insure over any defects relating to <br />the property description, which result or might result in a gap <br />or an overlap. <br />2. The Buyer shall enter into a Development Agreement with <br />the Seller for Thunder Bay Development District Tax Increment <br />Financing District No. 1 prior to the closing of the purchase of <br />the Wright property by the City of Little Canada. <br />3. <br />from the <br />property <br />4. <br />survive <br />Closing. This sale shall close on or before 120 days <br />date of the closing of the purchase of the Wright <br />by the City of Little Canada. <br />All terms and conditions of the Purchase Agreement shall <br />the closing. <br />Dated: , 1987. <br />SELLER: <br />CITY OF LITTLE CANADA <br />BY: <br />BY: <br />Michael I. Fahey, Mayor <br />Joseph G. Chlebeck, City Clerk <br />Page 12 <br />Dated: , 1987 <br />BUYER: <br />Frank M. Frattalone <br />