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MEMORANDUM OF UNRECORDED AGREEMENTS
<br />THIS MEMORANDUM OF UNRECORDED AGREEMENTS, dated as of June _____,
<br />2024, by Doran St. Anthony, LLC, a Minnesota limited liability company (“Phase I Owner”),
<br />Doran SLV, LLC (the “Phase I Redeveloper”) Doran SLV II, LLC, a Minnesota limited liability
<br />company (“Phase II Redeveloper and Owner”), the Housing and Redevelopment Authority of St.
<br />Anthony Village, Minnesota, a public body corporate and politic and political subdivision of the
<br />State of Minnesota (the “Authority”), and the City of St. Anthony Village, a Minnesota municipal
<br />corporation (the “City”);
<br />1.Affected Real Property. The Phase I Owner is the fee simple owner of certain real
<br />property located in Ramsey County, Minnesota, as more particularly described in Exhibit A
<br />attached hereto and incorporated herein by reference (the “Phase I Property”). The Phase II
<br />Redeveloper and Owner is the fee simple owner of certain real property located in Ramsey County,
<br />Minnesota, as more particularly described in Exhibit B attached hereto and incorporated herein by
<br />reference (the “Phase II Property”).
<br />2.Recorded Private Contract for Redevelopment. The Phase I Property and Phase II
<br />Property are subject to that certain Contract for Private Development dated as of February 19,
<br />2019, and filed of record in the office of the Ramsey County Recorder on March 17, 2020, as
<br />Document No. A04802554, as affected by City of St Anthony Village Resolution 19-093 approving
<br />Contract for Private Redevelopment Agreement with Phase I Redeveloper, recorded March 11,
<br />2020, as Document No. A04801670, as affected by Housing and Redevelopment Authority of St.
<br />Anthony, Minnesota Resolution 19-05, a resolution approving Contract for Private Redevelopment
<br />and awarding the sale of, and providing the form, terms, covenants and directions for the issuance
<br />of its tax increment revenue notes to Phase I Redeveloper, recorded March 11, 2020, as Document
<br />No. A04801671, as affected by the Assignment and Subordination of Development Agreement
<br />dated October 30, 2020, recorded February 11, 2021, as Document No. A04863728, as affected by
<br />Amended and Restated Assignment and Subordination of Development Agreement, dated
<br />November 24, 2020, recorded May 7, 2021, as Document No. A04882387, as affected by Amended
<br />and Restated Assignment of Subordination of Development Agreement and TIF Note dated
<br />November 24, 2020, recorded May 7, 2021, as Document No. A04882388 (as amended, modified
<br />and supplemented from time to time, collectively the “Development Agreement”)
<br />3.Unrecorded Agreements Amending and/or Affecting Development Agreement.
<br />The Development Agreement was amended pursuant to (a) that certain First Amendment to
<br />Contract for Private Redevelopment by and among the Authority, the City and Phase I Redeveloper
<br />dated June 2020 (the “First Amendment”); (b) that certain Second Amendment to Contract for
<br />Private Redevelopment by and among the Authority, the City, Phase I Redeveloper, Phase I Owner
<br />and Phase II Redeveloper and Owner dated November 24, 2020 (the “Second Amendment”); and
<br />(c)that certain Third Amendment to Contract for Private Redevelopment by and among the
<br />Authority, the City, Phase I Redeveloper, Phase I Owner and Phase II Redeveloper and Owner
<br />dated January 4, 2024 (the “Third Amendment”) and is affected by (i) that certain City of St
<br />Anthony Village Resolution 20-054 approving the First Amendment (“Resolution 20-054”); (ii)
<br />that certain Housing and Redevelopment Authority of St. Anthony, Minnesota Resolution 20-05, a
<br />resolution approving the First Amendment (“Resolution 20-05”); (iii) that certain City of St
<br />Anthony Village Resolution 20-085 approving the Second Amendment (“Resolution 20-085”); (iv)
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