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IN WITNESS WHEREOF, Purchaser and Seller have executed this Purchase Agreement as of the <br />Effective Date. <br />PURCHASER: <br />E&R Investments, LLC <br />a Minnesota Limited Liability Company <br />By: <br />Print: Gregory R. Ebert <br />Title: President <br />Dated: <br />SELLER: <br />CITY OF ELK RIVER <br />By: <br />Print: John Dietz <br />Title: Mayor <br />By: <br />Print: Tina Allard <br />Title: City Clerk <br />Dated: <br />Purchase Agreement Page 13 of 13 <br />469680v2 SJS EL185-36