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69 FIRST AMENDMENT TO REDEVELOPMENT AGREEMENT THIS FIRST AMENDMENT TO REDEVELOPMENT AGREEMENT ("First Amendment")is made and entered into this day of May, 2004, by and between the CITY OF SAINT ANTHONY, MINNESOTA, a Minnesota statutory city (the"City"), the HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT ANTHONY, , MINNESOTA, a public body corporate and politic organized and existing under the laws of the State of Minnesota (the"Authority"), and APACHE REDEVELOPMENT,LLC, a Minnesota limited liability company(the"Developer"). RECITALS WHEREAS,the Developer,the City and the Authority have previously entered into a Redevelopment Agreement dated as of December 19, 2003 (the"Redevelopment Agreement") and the capitalized terms used in this First Amendment shall have the meaning given them in the Redevelopment Agreement; WHEREAS,pursuant to the Redevelopment Agreement, the Developer agreed to develop a Development located in the Project Area in two Phases; WHEREAS,under Section 8.1 of the Redevelopment Agreement,the Developer and the Authority agreed to resolve certain issues concerning Phase II by negotiating and entering into a Phase II Contract Addendum by May 31, 2004; WHEREAS,by letter dated April 22, 2004, the Developer has informed the Authority that delays in Phase I have necessitated delayed completion of the Phase II Contract Addendum, and the incidental technical, financial and legal analysis required by the Redevelopment Agreement; and WHEREAS,the Developer has requested that the original deadline,under Section 8.1, for completion of the Phase II Contract Addendum of May 31, 2004 be extended until December 31, 2004, and that the deadline for providing pro formas, more detailed site plans and other Project Element information be extended to October 15, 2004. NOW,THEREFORE, in consideration of the premises and the mutual obligations of the parties hereto, each of them does hereby covenant and agree with the other as follows: 1. Section 8.1 of the Redevelopment Agreement is hereby amended to read as follows: "Section 8.1 Phase II Timing, General Contract Structure. The Developer has been approved by the Authority to undertake Phase II of the Development,however the parties acknowledge that certain issues remain to be resolved prior to commencement of Phase H. The Developer has agreed to the Developer Fee Hold Back as provided in Section 11.5, as consideration and evidence of Developer's good faith intent to proceed with Phase H. The Parties shall proceed to resolve these issues and agree to enter into a supplement to this Agreement (the"Phase II Contract Addendum") to establish all terms of the Phase II portion of