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The City agrees that during the term of this letter of understanding, the City will not <br />negotiate with or enter into a similar letter or agreement with any third party concerning the <br />Property. <br /> <br /> This letter of understanding may only be modified and the term hereof may be extended <br />only through written amendments signed by the City and Redeveloper. <br /> <br /> If the Redeveloper is in agreement with and willing to be subject to the terms of this letter <br />of understanding, please sign this letter where indicated below. <br /> <br />CITY OF ELK RIVER <br /> <br />By <br /> Its <br /> <br />METROPLAINS DEVELOPMENT, LLC <br /> <br />Dated: By. <br /> Its <br /> <br /> <br />