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• EXTRACT OF MINUTES OF MEETING OF THE BOARD OF COMMISSIONERS OF THE ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY,SHERBURNE COUNTY,MINNESOTA Pursuant to due call and notice thereof, a regular meeting of the Board of Commissioners of the Elk River Economic Development Authority,Minnesota,was duly held in the City Hall in the City of Elk River,on March 11,2013,commencing at 5:30 p.m. The following members were present: President Tveite, Members Burandt, Dwyer, Motin, Provo,Westgaard and Wilson and the following were absent: None Member Dwyer introduced the following resolution and moved its adoption: RESOLUTION NO. 13-02 A RESOLUTION AUTHORIZING EXECUTION OF A PURCHASE AGREEMENT • WHEREAS,the Economic Development Authority of the City of Elk River,Minnesota(the "Authority") has caused to be prepared a Purchase Agreement(the "Purchase Agreement");between the Authority and Provo Enterprises,LLC,a Minnesota limited liability company(the"Developer") under Minnesota Statutes,Section 469.105. NOW,THEREFORE,BE IT RESOLVED by the Economic Development Authority of Elk River as follows: Section. The Board of Commissioners hereby determines that the sale is advisable and approves the Purchase Agreement in substantially the form submitted,and the President,Vice President and Executive Director are hereby authorized and directed to execute the Purchase Agreement on behalf of the Authority;and Section 2. The decision to sell the property is placed on the records of the Authority as of the date hereof. The motion for adoption of the foregoing resolution was duly seconded by member Motin and, after full discussion thereof,and upon a vote being taken thereof,the following voted in favor thereof: President Tveite,Members Burandt,Dwyer,Motin,Westgaard. Member Provo abstained. and the following voted against same: None •