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MEMORANDUM OF UNDERSTANDING <br />August 30, 1996 <br />1. Centennial School District No. 12 agrees to trade to Glenn <br />Rehbein Companies parcels "C" and "F" as identified on the <br />attached drawing and to pay Glen Rehbein a total of $92,000, <br />as and for the total purchase price for parcels "N ", "M" and <br />"H" which are'ttfl be deeded to Centennial School District No. <br />12.. <br />2. As and for additional consideration to be paid by Glen Rehbein <br />Companies in the form of labor and services, Glenn Rehbein <br />Companies shall construct a holding pond as designed by OSM <br />and approved by the Lino Lakes City Engineers on parcel "H ". <br />The pond shall be substantially completed on or about July 1, <br />1997, or sooner. It is further agreed and understood that the <br />holding pond shall not require any shrubs, the weirs shall be <br />constructed of wood and the seeding necessary will not exceed <br />$2,625.00 as approved by the City Engineer. <br />3. As and for additional consideration Glenn Rehbein Companies <br />shall not charge Centennial School District No. 12 or the City <br />of Lino Lakes for the easement that is necessary to construct <br />utilities along 4th Avenue, Lino Lakes, Minnesota. <br />4. All clean fill that is removed from this site shall be used as <br />fill on the middle school site. <br />5. Glenn Rehbein Companies shall remove all personal property, <br />including construction materials and debris, from the sites. <br />Centennial School Dist. No.12 Glenn Rehbein Companies <br />