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<br />February 8, 2018 <br />Mr. Michael M. Grochala <br />Community Development Director <br />City of Lino Lakes <br />600 Town Center Parkway <br />Lino Lakes, MN 55014 <br /> <br />Re: Legacy at Woods Edge Development <br /> <br />Dear Mr. Grochala, <br /> <br />I am pleased to present the following Letter of Intent for the purchase of approximately 2.4 acres <br />within the “Urban Block” of the Legacy at Woods Edge Master Development as depicted on the <br />site plan of Exhibit A herein. <br /> <br />Below are the following terms and conditions under which Venture Pass Partners, LLC is willing <br />to enter into a Purchase Agreement for above referenced property. If the terms are acceptable to <br />the Seller, please have the Seller sign this letter below and return to my attention. <br /> <br />LETTER OF INTENT TO PURCHASE: <br /> <br />Property: The real estate of approximately 2.4 acres within the “Urban Block” of <br />the Legacy at Woods Edge Master Development, consisting of the <br />realty for a grocery store of approximately 29,000 square feet and <br />critical parking area (the “Property”) as depicted on the site plan of <br />Exhibit A herein. <br /> <br />Seller shall be obligated to record a plat create the subject Property <br />prior to sale. <br /> <br />Seller shall grant Buyer easements to construct, operate, and maintain <br />access roads as depicted in blue on Exhibit A. <br /> <br /> <br />Buyer: Venture Pass Partners, LLC and/or its assigns. <br /> <br />Seller: City of Lino Lakes <br /> <br />Purchase Price: Five Hundred Seventy-Four Nine Hundred Ninety-Two and no/100 <br />Dollars ($574,992.00) <br /> <br />