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1 409586v1 SJS MU210-189 <br /> <br />LIMITED USE AGREEMENT <br /> This Limited Use Agreement (the “Agreement”) is made as of September 1, 2012, by and <br />between the Mounds View Economic Development Authority, a Minnesota body corporate and <br />politic, 2401 County Road 10, Mounds View, Minnesota 55112 (the “EDA”) and Coventry Senior <br />Living of Mounds View, LLC, a Minnesota limited liability company, 720 Mahtomedi Avenue, <br />Mahtomedi, Minnesota 5515 (“Coventry”). <br /> <br /> <br />RECITALS <br /> A. The EDA is the owner of vacant property located in the City of Mounds View, <br />County of Ramsey which is located at: 2390 Highway 10 NE, legally described on the attached <br />Exhibit A (“Property”). <br /> <br /> B. Coventry is in the process of developing the adjacent property located southeast of <br />the Property into a senior housing development. <br /> <br /> C. Coventry has requested to temporarily use the Property as a construction staging <br />area for the senior living development. The area of the Property to be used by Coventry is depicted <br />on the attached Exhibit B (“Limited Use Area”). <br /> <br /> D. The EDA is willing to allow Coventry to use the Limited Use Area subject to <br />Coventry entering into this Agreement. <br /> <br /> <br />AGREEMENT <br /> 1. Incorporation of Recitals. The recitals set forth above are incorporated herein <br />and made a part of this Agreement. <br /> <br /> 2. Grant of Limited Use. The EDA warrants that it owns and has the right to grant <br />the limited use interest affecting the Property. The EDA does hereby grant a nonexclusive <br />limited use to Coventry for the purposes of parking vehicles and storage of materials, equipment, <br />and supplies over and across the Limited Use Area in exchange for Coventry’s covenants and <br />promises contained herein. The EDA may designate a different Limited Use Area on the <br />Property at its sole discretion after providing 14 days’ written notice to Coventry. <br /> <br /> 3. Consideration. Coventry agrees to pay the EDA $100.00 <br /> <br /> per month for the grant of <br />the limited use. <br /> 4. Scope. The EDA reserves the right to the use the Property, including the Limited <br />Use Area during the term of this Agreement for its own purposes. <br /> 5. Maintenance and Repair. Coventry shall repair and maintain, in a proper, <br />substantial and workerlike manner, the Limited Use Area during the term of this Agreement. <br />Coventry shall be responsible for the costs of removal of any refuse or waste materials from the <br />Limited Use Area. Coventry shall not use the Limited Use Area for the storage, handling, <br />transportation, or disposal of any hazardous substance, hazardous waste, pollutant, or contaminant <br />as those terms are defined in 42 U.S.C. Section 9601, et. seq. (“CERCLA”) or Minnesota Statutes