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OPEN SPACE EASEMENT AGREEMENT <br />THIS OPEN SPACE EASEMENT AGREEMENT (“Agreement”) is made this day of <br />, 2024, by and between U.S. Home, LLC, a Delaware limited liability company <br />(“Grantor”) and the City of Lino Lakes, a municipal corporation under the laws of Minnesota <br />(“Grantee”). <br />Recitals <br />A.Grantor is the fee owner of the following described property in Anoka County, Minnesota <br />(the "Property") as shown on attached Exhibit A: <br />Outlot A, WATERMARK 8 t h ADDITION, according to the recorded plats thereof. <br />B.Pursuant to Section 7.2 of that certain Master Development Agreement (the “Development <br />Contract”) by and between Grantor and Grantee, dated on or about the date hereof, Grantor is <br />required to grant to Grantee an open space easement over portions of the Property. <br />C.Grantor desires to fulfill its obligations under the Development Contract with respect to <br />the obligations set forth in Section 7.2 thereof, and therefore, for good and valuable <br />consideration, Grantee and Grantor hereby agree on the terms and conditions set forth herein. <br />Terms of Agreement <br />1.Grant of Open Space Easement. For good and valuable consideration, receipt of which is <br />acknowledged by Grantor, the Grantor grants and conveys to the Grantee an open space easement <br />(the “Easement”) over the Property owned by Grantor described as follows (“Easement Area”): <br />Over, across, through, and upon all of Outlot A, Watermark 8th Addition <br />2.Scope of Easement; Confinement; Exceptions. <br />2.1 The easement includes the right of the Grantee, its contractors, agents, and <br />employees to enter upon said Easement Area at all reasonable times for all purposes as set forth in <br />the Development Contract, including but not limited to the right of Grantee to utilize the Easement <br />Area in a manner consistent with Exhibit D of the Development Contract. <br />2.2 Notwithstanding anything to the contrary in this Agreement, the Easement granted <br />herein (i) shall not encumber any portion of the Property that is intended to and ultimately does <br />contain improvements, such as roads, trails, parks, sidewalks or other improvements, as authorized <br />or contemplated by the Development Contract or any Development Agreement for separate phases <br />of the Property, and (ii) shall not prohibit Grantor from grading or performing construction or <br />development work or staging activities on portions of the Property authorized for such work <br />pursuant to the Development Contract or any Development Agreement for separate phases of the <br />Property. <br />Attachment 6: Open Space Easement Agreement