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RESOLUTION NO. 02-EDA-158 MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION AMENDING PREVIOUSLY ADOPTED RESOLUTION NO. 02-EDA-155 REGARDING THE TERMS AND CONDITIONS OF THE SALE OF EDA-OWNED LAND LOCATED AT 2091 HILLVIEW ROAD TO G.R. DANIELSON & SON COMPANY It is hereby resolved by the Board of Commissioners (the “Board”) of the Mounds View Economic Development Authority (the “Authority”) as follows: WHEREAS, the Authority acquired the real property located at 2091 Hillview Road (the “Property”) from the Department of Housing and Urban Development on September 4, 2001; and, WHEREAS, on December 10, 2001, the Authority accepted the offer submitted by G.R. Danielson and Son Company (the “Purchaser”) in the amount $100,100 with an additional $135,000 to be invested toward the repair and improvement of the Property; and, WHEREAS, the Authority held a public haring on January 7, 2002 regarding the conveyance of the Property to the Purchaser at which time all interested persons were given an opportunity to be heard; and, WHEREAS, through negotiations with the purchaser, an amendment to the proposed Purchase and Redevelopment Agreement (the “Agreement”) and to approved Resolution 02-EDA-155 (the “Resolution”) have been put forward to the Authority for its consideration; and, WHEREAS, the amendments to the Agreement and Resolution are as follows: 1. The purchase price of the Property accepted by the Authority shall be $99,000. 2. The Purchaser of the Property shall be identified by their individual personal names: Gary Danielson, Debbie Danielson, David Scott and Peggy Scott. All other provisions and requirements identified in the Agreement and Resolution shall remain unchanged and in force. NOW THEREFORE BE IT RESOLVED, the Mounds View Economic Development Authority approves the sale of the Property to the Purchaser in the amount of $99,000 less submitted earnest money. RESOLUTION NO. 02-EDA-158 February 11, 2002 Page 2