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RELEASE 411 This Release is given and granted by the CITY OF MOUNDS VIEW (the "City") , a home rule city of the State of Minnesota, having its principal offices at 2401 Highway 10, Mounds View, Minnesota 55112 , to EVEREST DEVELOPMENT, LTD. , a Minnesota corporation, COMMERCIAL PROPERTY INVESTMENTS, INC. , a Minnesota corporation, and EVEREST INVESTMENTS LIMITED PARTNERSHIP, a Minnesota limited partnership (hereinafter collectively referred to as the "Redevelopers") having their principal offices at 2685 Long Lake Road, Roseville, Minnesota 55113 . WITNESSETH: WHEREAS, the City and Redevelopers are parties to a Contract for Private Redevelopment made and entered on the 11th day of January, 1983, and amended by a First Supplement to Contract for private Redevelopment offve as of the l5t11 day of November, 1989 , (hereinafter collectively referred to as the "Contract") , covering certain property located in Ramsey County, Minnesota, as more particularly described in • attached Exhibit A; and WHERE S the property coverers by the Contras has been subdivided into six separate parcels, which parcels are identified and legally described on attached Exhibit B; and WHEREAS, the minimum improvements contemplated by the Contract have been constructed or are in the process of construction on each of said parcels; and WHEREAS, certain parcels have been transferred and conveyed since the date of the Contract, and the present owners of said parcels are as noted on attached Exhibit B; and WHEREAS , the owners of said parcels have assumed the obligations of the Redevelopers under the Contract, the owners have the qualifications and financial responsibility to fulfill such obligations, and the documents of transfer and assumption are in a worm satisr?cLory to the City; and MDSVREL/C 1