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Return To: <br />David K. Snyder, Esq. <br />JoHNsoN / TURNER LEGAL <br />56 East Broadway Avenue, Suite 206 <br />Forest Lake, MN 55025 <br />DRAFT NO.4 <br />CITY OF HUGO <br />WASHINGTON COUNTY, MINNESOTA <br />OPTION AGREEMENT <br />THIS OPTION AGREEMENT ("Agreement") is made effective this , 2019, <br />("Effective Date") by and between The City of Hugo, a Minnesota Municipal Corporation (the <br />"City" of "The City" or "Seller"), and Cattle House, LLC, a Minnesota Limited Liability <br />Company. ('Buyer"). <br />Recitals <br />WHEREAS, Seller is the owner of real property located in the County of Washington, <br />State of Minnesota and legally described on Exhibit A-1 attached hereto (the "Real Property" or <br />"the property"). The Seller has assembled this Real Property over many years with the desire <br />and intention that it be later offered for sale to a developer that will develop it carefully and in <br />accordance with the guidelines and direction of the City and to create a variety of uses which are <br />of direct, substantial and specific benefit to the City and its residents, including the provision of <br />necessary amenities; <br />WHEREAS, Buyer is desirous of securing an exclusive option for the overall purchase of <br />the property for the initial development of a restaurant upon part of it with subsequent phases to <br />include other land uses, subject to the review and discretion of the City; and <br />