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62 <br /> Mike Mornson <br /> July 16, 2003 <br /> Page 2 <br /> 7. Commercial Condominium. The Developer is responsible for converting the property to a <br /> commercial condominium under the laws of the State of Minnesota. One unit of the <br /> condominium will be the Liquor Store parcel, and shall be designated as such on the <br /> condominium plat, which shall be approved by the City prior to the recording thereof. One unit <br /> of the condominium shall be retained by the Developer and leased to a third party for use as a <br /> restaurant with a liquor license and the initial tenant in the restaurant unit shall offer charitable <br /> gambling on the premises. The condominium documents shall be drafted by the Developer and <br /> the condominiums shall be created as a condition of closing. <br /> 8. Prohibition Against Transfer. The Developer cannot transfer any portion of the property or <br /> assign the Purchase and Development Agreement to another party without the written approval of <br /> the City. <br /> 9. Use Restrictions. The Agreement prohibits a number of uses on the site and restricts Liquor <br /> Store uses to only a municipal owned store. <br /> 10. Miscellaneous. The Agreement contains the City's standard title insurance, project insurance <br /> and default and termination provisions. <br /> Please contact me at 651-697-8506 if you have any questions. <br />