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18-EDA-315
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18-EDA-315
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Last modified
8/10/2022 11:24:19 AM
Creation date
11/27/2018 9:50:27 AM
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MV EDA
EDA Document Type
Resolutions
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EXHIBIT A <br />MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br />AND INH PROPERTY MANAGEMENT, INC. <br />FIRST AMENDMENT TO PRELIMINARY DEVELOPMENT AGREEMENT <br />This first amendment (the "First Amendment") to the preliminary development agreement dated <br />January 8"', 2018, (the "Preliminary Agreement") by and between the Mounds View Economic <br />Development Authority, a public body corporate and politic under the laws of the state of Minnesota <br />(the "EDA") and INH Property Management, Inc., a Mimiesota corporation d/b/a INH Properties (the <br />"Developer") is hereby approved as follows: <br />1. Amendment to Term of Preliminary Agreement, The Preliminary Agreement <br />included a term that expires one year after the execution of said Preliminary Agreement. Based upon <br />the ongoing negotiations between the parties thereto, each party desires and agrees to amend the term <br />of the Preliminary Agreement to expire on May 1, 2019, subject to a condition that Developer and the <br />EDA shall finalize negotiation of all terms necessary and related to the development of a purchase <br />agreement and development agreement for the proposed development by January 8, 2019, with such <br />condition to be reviewed by the EDA at its meeting to be held on December 10, 2018. <br />2. No Other Material Changes. Besides the change to the term noted herein, the <br />Preliminary Agreement shall remain in frill force and effect for the full length of the updated term. <br />IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be duly <br />executed in their names and on behalf of their respective organizations. <br />Dated: November 26, 2018. <br />By: <br />Its: <br />DEVELOPER: <br />INH PROPERTY MANAGEMENT, INC. <br />EDA: <br />MOUNDS VIEW ECONOMIC <br />DEVELOPMENT AUTHORITY <br />By: 4 -- <br />Carol Mueller, Pre 'dent <br />By: " I <br />4 h 9- ,�- - � <br />Nyl frknni , Executive Director <br />A-1 <br />5386190 MU205A6 <br />
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