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Page 2 of 2 <br />BWSR Form: revised for Restoration Devlopment.doc <br />Revised 03/05/2009 <br />4. Buyer agrees to pay to a withdrawal fee of $237.83 to the State of Minnesota based on 6.5% of the <br />agreed to purchase price. At the Closing Date Buyer will execute a check made out for this amount, payable <br />to the Board of Water and Soil Resources. <br />5.The closing of the purchase shall occur on or before April 30, 2009 (Closing Date) at 1521 94th Lane <br />NE, Blaine MN 55449. The Closing Date and location may be changed by written consent of both parties. <br />Upon payment of the balance of the purchase price, Sellers will sign a fully executed Application for <br />Withdrawal of the Credits in the form specified BWSR, provide a copy of the Application for Withdrawal to <br />the Buyer and forward the same to the BWSR along with the check for the withdrawal fee. <br />6.Buyer has applied or will apply to Rice Creek Watershed District for approval of a replacement plan <br />utilizing the Credits as the means of replacing impacted wetlands. If the LGU has not approved the Buyer’s <br />application for a replacement plan utilizing the Credits by the Closing Date, and no postponement of the <br />Closing Date has been agreed to by Buyer and Sellers in writing, then Buyer may cancel this Agreement by <br />giving written notice to Sellers or the Sellers may cancel this Agreement by giving written notice to Buyer. <br />In this case neither Buyer nor Sellers shall have any further obligations under this Agreement. <br />RESTORATION DEVELOPMENT LLC CITY OF MOUNDS VIEW <br />By:___________________________________By:___________________________________ <br />Dave Newman (Date)Joe Flaherty (Date) <br />Its: Mayor <br />U.S. HOME CORPORATION By:____________ <br />Jim Ericson (Date) <br />Its: City Clerk-Administrator <br />By:___________________________________ <br />(Date) <br />___________________________________ <br />Printed Name