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PRE-REDEVELOPMENT AGREEMENT <br /> THIS AGREEMENT, made and entered into as of the day of , 2003 by and <br /> between THE CITY OF ST. ANTHONY VILLAGE, a Minnesota public body corporate and <br /> politic, (hereinafter referred to as the "City"), and having its principal office at 3301 Silver Lake <br /> Road, St. Anthony Village, MN 55418 and AMCON CONSTRUCTION, a Minnesota company, <br /> or its successors or assigns ("Redeveloper") and having its principal office at 200 West highway <br /> 13, Burnsville MN 55337. <br /> BACKGROUND <br /> The purpose of this Agreement is to set forth the understanding between the parties with <br /> respect to the redevelopment of portions of the area generally described as the Stonehouse/SAV <br /> 1/Fire Station 1 Redevelopment (the "Redevelopment Property@) and shown in Exhibit A. <br /> BASIC TERMS AND CONDITIONS <br /> The following is a list of the terms and conditions under which the Redeveloper will proceed on <br /> an exclusive basis for the term of this agreement to structure and develop with the City a <br /> definitive Redevelopment Agreement for the Project and is intended to define the responsibilities <br /> and roles of the respective participants regarding the proposed redevelopment of the Project. <br /> • 1. Redevelopment Property. <br /> (a) The legal descriptions of the properties comprising the Redevelopment Property <br /> are set forth in Exhibit A. Said properties are commonly referred to as the <br /> Stonehouse/SAV 1 and Fire Station 1 Property. <br /> (b) The Redevelopment Property consists of approximately one (1) acre of land, <br /> together with all improvements and structures located on the land and easements <br /> and rights benefiting or appurtenant to the land. The exact dimensions and square <br /> footage of the Redevelopment Property shall be determined by survey as a part of <br /> the obligations contained in the Redevelopment Agreement. <br /> 2. Undertaking and Exclusive Rights. In consideration of the time, effort and expenses to <br /> be incurred by Redeveloper in pursuing the undertakings set forth herein and in further <br /> consideration of the deposit to be made by the Redeveloper pursuant to Section 10 of this <br /> Agreement, the City hereby agrees that for the Term of this agreement it will not enter <br /> into an agreement for provision of financial assistance to any third party in connection <br /> with any proposed development within the Site. During such Term, the Redeveloper <br /> shall have the exclusive right to work with the City in establishing a definitive <br /> Redevelopment Agreement by which the Redeveloper agrees to construct certain public <br /> and private improvements (the "Minimum Improvements") upon the Redevelopment <br /> • <br /> I PRE-REDEVELOPMENT AGREEMENT <br />