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as named insured. The City and EDA's costs for insurance shall be added to the <br />Lease payments due from the YMCA. <br />This document represents a framework of principles expressing the current understanding between <br />both parties and does not constitute a legally binding agreement. The parties agree to utilize the <br />principles expressed in this document as a framework for all subsequent legally binding <br />documents between the City, EDA and the YMCA. <br />CITY OF ELK RIVER <br />By: <br />ECONOMIC DEVELOPMENT AUTHORITY IN AND FOR <br />THE CITY OF ELK RIVER <br />Its: <br />YOUNG MEN'S CHRISTIAN ASSOCIATION OF <br />METROPOLITAN MINNEAPOLIS <br />Hazold Mezile, Jr. <br />Its: President and CEO <br />GP:i9~zas9 ~z <br />4 <br />