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<br />AMENDMENT NO.5
<br />to
<br />ELK RIVER PLAZA PLANNED UNIT DEVELOPMENT AGREEMENT
<br />CITY OF ELK RIVER, SHERBURNE COUNTY, MINNESOTA
<br />
<br />THIS AMENDMENT NO.5 is made effective the 20th day of November, 2000, by and
<br />between the CITY OF ELK RIVER, Sherburne County, Minnesota (the City), and ELK
<br />RIVER SHOPPING CENTER COMPANY, a Minnesota partnership, 9110 83rd Avenue
<br />North, Brooklyn Park, Minnesota 55445.
<br />
<br />WIT N E SSE T H:
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<br />WHEREAS, on December 24, 1984, the parties hereto entered into Elk River
<br />Plaza Planned Unit Development Agreement, which agreement was amended by
<br />Amendment No. 1 effective December 31, 1985, and by Amendment No.2, effective
<br />March 16, 1987, and by Amendment No.3, effective September 21, 1987; and
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<br />WHEREAS, the City Council on June 21, 1999, approved the Replat of Lot 4,
<br />Block 2, of Elk River Plaza, as Elk River Plaza 4th Addition.
<br />
<br />WHEREAS, on June 21, 1999, the Elk River City Council approved an
<br />amendment to the Elk River Plaza Planned Unit Development Agreement to permit the
<br />development of Elk River Plaza 4th Addition by the placement of the following
<br />improvements on the property: A 15,000 square foot retail building on Lot 1, Block 1, Elk
<br />River Plaza 4th Addition; the placement of a 200 seat Class I restaurant with on sale
<br />liquor, a 6,500 square foot retail building on Lot 2, Block 1, Elk River Plaza 4th Addition,
<br />and the placement of a 40,00 square foot medical office on Lot 3, Block 1, Elk River
<br />Plaza 4th Addition.
<br />
<br />WHEREAS, on November 20, 2000 the Elk River City Council approved an
<br />amendment to the Elk River Plaza Planned Unit Development Agreement to permit a
<br />second wall sign on the rear of the mall for a 6,500 square foot retail building on Lot 2.
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<br />NOW, THEREFORE, it is hereby agreed by and between the parties here as
<br />follows:
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<br />1.) The Elk River Plaza Planned Unit Development Agreement is hereby
<br />amended to allow the construction of the following improvements:
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<br />(01) Wall signage as follows:
<br />1. Attached restaurant/retail buildinQ on Lot 2 - Restaurant shall
<br />have 2 wall signs and retail tenants shall have 2 wall signs. Signs
<br />shall consist of individual letters. Capital letters shall be no larger
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