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EDA RESOLUTION 20 -EDA -336 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA A RESOLUTION APPROVING A LISTING AGREEMENT FOR EDA LAND AND AUTHORIZING STAFF NEGOTIATIONS ON BEHALF OF THE EDA WHEREAS, the Mounds View Economic Development Authority (the "EDA") is the owner of certain real property located at 7861 Groveland Road in the City of Mounds View (the "City") which is legally described on Exhibit A attached hereto (the "Property"); and WHEREAS, the EDA wishes to sell the Property and has determined that it should list the Property with a licensed real estate brokerage firm to aid in the sale process; and WHEREAS, the EDA has decided to list the Property with Douglas Harris and Mark Hulsey (the "Brokers") of Re/MAX Results Commercial Group under a listing agreement dated June 9, 2020, which will commence June 22, 2020 and terminate on June 9, 2021 (the "Listing Contract"); and WHEREAS, the EDA and Brokers have agreed per the Listing Contract that the sale of the Property shall only occur if the sale of 2840 and 2832 Mounds View Boulevard in the City shall occur to an EDA approved developer; and WHEREAS, the EDA has determined, through reasonable investigation, it wishes to enter into the Listing Contract, in substantively the form shown on Exhibit B, attached hereto. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of the City of Mounds View, Minnesota: 1. The recitals set forth above in this Resolution are incorporated into and made a part of this Resolution. 2. The EDA hereby approves the Listing Contract in substantially the form presented to the EDA on the date below and further subject to any modifications that do not alter the substance of the transaction and that are approved by the EDA's attorney. The proper EDA officials, staff and consultants are authorized to execute the Listing Contract and to take any and all other steps necessary or convenient in order to carry out the obligations under the Listing Contract, as well as to fulfill the intent of this Resolution. 4. The President, EDA staff, the EDA attorney, and EDA consultants are hereby authorized and directed to take any and all additional steps and actions necessary or convenient in order to accomplish the intent of this Resolution. MU205\13\658001 A