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EXHIBIT A <br /> <br />RELEASE OF OBLIGATONS UNDER <br />PETITION AND WAIVER AGREEMENT <br /> <br />This Release (the “Release”) is entered into effective as of May ___, 20 13 (the <br />“Effective Date”), by and between the City of Lino Lakes , a municipal corporation under the <br />laws of the State of Minnesota (the “City”) and Lino Lakes Assisted Living, LLC , a <br />Minnesota limited liability company (the “LLC”). <br /> <br />RECITALS <br /> <br />A. The City and Legacy Holdings LL, LLC, a Minnesota limited liability company <br />(“Legacy Holdings”) are parties to a Petition and Waiver Agreement dated <br />effective December 20, 2004, and recorded January 19, 2007, as Document No. <br />1990513.011, in the office of the Anoka Coun ty Recorder, Anoka County, <br />Minnesota (the “Petition”). <br /> <br />B. The real property legally described as Outlot A, The Village No. 4, Anoka <br />County, Minnesota (the “Property”), which was tax -forfeited, is subject to the <br />Petition. <br /> <br />C. The LLC has entered into a Purchase and Redevelopment Agreement dated <br />March 19, 2013 (the “Purchase Agreement”), with the Lino Lakes Economic <br />Development Authority (the “EDA”) to purchase and redevelop the Property as <br />an expansion to the existing assisted living facility located on property adjacent <br />to the Property. <br /> <br />D. In connection with the acquisition of the Property, the LLC has requested that <br />the Property and the LLC be released from the terms and conditions of the <br />Petition. <br /> <br />E. It is in the best interest of the City to promote development by LLC and to <br />release the LLC and the Property from the terms and conditions of the Petition. <br /> <br />AGREEMENT <br /> <br />For good and valuable consideration, the receipt and sufficiency of which the parties <br />acknowledge, the undersigned agree as follows: <br /> <br />1. The Property is re leased from the Petition and the Petition no longer encumbers <br />the Property. <br />2. The LLC has no liability or obligations under the Petition. <br />3. This Amendment may be executed in counterparts, each of which, when so <br />executed and delivered, shall be an original, but such counterparts together shall constitute one <br />and the same instrument. <br />