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TRUST FUND REPAYMENT AGREEMENT THIS TRUST FUND REPAYMENT AGREEMENT (the “Agreement”) is effective as of October ___, 2016 (the “Effective Date”) by and between THE VILLAGE, LLC, a Minnesota limited liability company (the “Owner”) and the CITY OF SAINT ANTHONY VILLAGE (the “City”). The Owner and the City may collectively be referred to as the “Parties” or individually as a “Party.” The Parties agree and acknowledge that the MINNESOTA HOUSING FINANCE AGENCY (“MHFA”) is an intended third-party beneficiary of this Agreement. RECTIALS WHEREAS, the Owner is the fee owner of real property commonly known as 2501 Lowry Avenue, Saint Anthony, Minnesota (the “Property”) and currently operates a Manufactured Home Park, as defined in Minn. Stat. § 327.01, subd. 5, at the Property known as Lowry Grove (the “Park”); WHEREAS, MHFA is the state agency that oversees the Minnesota Manufactured Home Relocation Trust Fund (the “Trust Fund”); WHEREAS, on June 15, 2016, the Owner provided the City with a Park Closure Statement, which required the City to hold a public hearing as provided in Minn. Stat. § 327.095, Subd. 4 (the “Closure Hearing”) to review the closure statement and any impact that the park closing may have on the displaced residents and the park owner and to appoint a neutral third party to oversee requests from owners of manufactured homes in the Park for payments from the Trust Fund under Minn. Stat. § 327.095; WHEREAS, the City set the Closure Hearing for September 8, 2016 at 7 p.m.; WHEREAS, shortly before the commencement of the Closure Hearing, the City received correspondence from the MHFA and a representative from MHFA was invited to speak at the outset of the Closure Hearing wherein the MHFA raised concerns about whether the Trust Fund would be reimbursed as required under Minn. Stat. § 327.095 if the Owner did not close Park; WHEREAS, the City expressed concerns about the impact to the Trust Fund and owners of manufactured homes in the Park if the Park is not closed; WHEREAS, the City and the Owner desire to provide certainty that mobile home owners in the Park that meet the eligibility requirements set forth in Minn. Stat. § 327.095 will be able to receive payments from the Trust Fund; and WHEREAS, the Owner desires to confirm that it will make reimbursement payments to the Trust Fund as set forth in this Agreement whether the Park is closed or remains open. 55