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1 <br />DOCSOPEN\MU205\50\716385.v4-4/22/21 <br />PURCHASE AND DEVELOPMENT AGREEMENT <br />This Purchase and Development Agreement (the “Agreement”) is made and entered into this <br />26th day of April, 2021, by and between the Mounds View Economic Development Authority, a <br />public body corporate and politic under the laws of Minnesota, having its principal office at <br />2401 Mounds View Boulevard, Mounds View, Minnesota 55112 (the “EDA”) and BIOCLEAN <br />MOBILE WASH INC., a Minnesota business corporation, having its principal office at 2151 <br />Mustang Drive, Mounds View, Minnesota 55112 (the “Developer”). <br />WITNESSETH: <br />WHEREAS, the EDA is fee owner of the Development Property, as defined herein and legally <br />described on Exhibit A attached hereto; and <br />WHEREAS, the Developer has identified the Development Property as a desired location <br />for development of an approximately 3,500 square foot expansion to an existing facility of <br />Developer; and <br />WHEREAS, the Developer has submitted such expansion proposal to the EDA (the <br />Developer Proposal”), as set forth in Exhibit B and incorporated herein by reference as if fully <br />set forth in this Agreement, detailing the aforementioned project; and <br />WHEREAS, the EDA has determined that the Developer Proposal is consistent with <br />existing development in the area and contributes to the long-term vision of the community; and <br />WHEREAS, the Development Property shall be conveyed by the EDA to the Developer for <br />development purposes, pursuant to Minnesota Statutes, Section 469.105; and <br />WHEREAS, the conveyance of the Development Property by the EDA to the Developer <br />shall be subject to the terms and conditions contained in this Agreement, including without <br />limitation, the following: <br />a. The Development Property sales price is $77,000; <br />b. The Developer, with the reasonable assistance of the EDA, shall plat the <br />Development Property in accordance with local subdivision regulations; <br />c. The Developer, with the reasonable assistance of the EDA, shall obtain all other <br />applicable planning and zoning approvals; and <br />d. Construction of the Minimum Improvements on the Development Property shall <br />commence within one year of the Date of Closing, as defined herein. <br />WHEREAS, the EDA believes that the development of certain land pursuant to this <br />Agreement and the fulfillment generally of this Agreement are in the vital and best interests of the <br />City of Mounds View and the health, safety, morals, and welfare of its residents, and in accord with <br />the public purposes and provisions of the applicable state and local laws and requirements.