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3. Immediately, upon written notice of either party to the other of its <br /> termination of this Agreement. <br /> 4. When the total lease payments received by Owner for lease of the Property <br /> for agricultural purposes equals the total amount of the Deferred Assessments. All lease <br /> payments received by Owner in excess of the amount of the Deferred Assessments shall <br /> be returned to the City and used for restoration of the Property. <br /> 5. Regardless of which reason 1-4, above, the Agreement is terminated, if the <br /> Agreement is terminated while crops are in the ground, Owner shall have the right (if the <br /> Agreement is terminated by the City) or the obligation (if the Agreement is terminated by <br /> Owner) to harvest the crops and receive the lease payment due through the harvesting, <br /> unless the LSOHC determines, in their sole discretion, that harvesting the crops would be <br /> inconsistent or in conflict with the Grant Agreement. <br /> CITY OF ELK RIVER <br /> By <br /> John J. Dietz <br /> Its Mayor <br /> AND <br /> Tina Allard <br /> Its City Clerk <br /> HOULTON OLSON FAMILY, LLLP <br /> By: <br /> Its <br /> 760437.DOCX <br /> 3 <br />