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Seller agrees not to market the Property or entertain any offers to purchase the Property <br /> from others until the earlier to occur of(a) the date on which the parties mutually <br /> determine that they cannot reach agreement on a contract or (b) 30 days from the date <br /> after which Seller countersigns this Letter of Intent. <br /> If we do not receive from you a countersigned copy of this letter within days of the date <br /> hereof, then the terms of this letter shall be deemed null and void. <br /> Please fell free to contact us with any questions or comments that you may have <br /> regarding these matters. Thank you for providing Ryland with this business opportunity. <br /> Sincerely, <br /> Chris Enger <br /> Land Resources Manager <br /> The Ryland Group, Inc. <br /> By: <br /> Name: Chris Enger <br /> Title: Land Resources Manager <br /> The City of New Hope, Minnesota,the Seller named above, hereby agrees to sell the <br /> Property to Ryland and to cease marketing the Property in accordance with the above <br /> terms and conditions, subject to the signing of a mutually agreeable contract of sale <br /> incorporating the above terms. <br /> The City of New Hope, Seller <br /> By, <br /> Name: <br /> Title: <br />