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ECONOMIC DEVELOPMENT AUTHORITY <br />OF THE CITY OF ELK RIVER <br />COUNTY OF SHERBURNE <br />STATE OF MINNESOT4 <br />RESOLUTION APPROVING CONSENT TO PLAT OF YANKEE DOODLE CROSSING <br />Section 1. Recitals. <br />1.01 The Economic Development Authority of the City of Elk River, Minnesota, is the <br />mortgagee and holder of that certain Mortgage, Security Agreement, Fixture Financing <br />Statement and Assignment of Leases and Rents, dated September 10, 2013, and filed on <br />September 18, 2013 as Document Number 49208 in the Office of the County Recorder of <br />Sherburne County, Minnesota (the "Mortgage"); <br />1.02 The real property encumbered by the Mortgage includes the following described <br />real property (the "Property"): <br />That part of the Southeast Quarter of the Northwest Quarter and of the Northeast <br />Quarter of the Southwest Quarter of Section 32, Township 33, Range 26, <br />Sherburne County, Minnesota lying northerly of the northerly line of Old <br />Highway No. 10 which is known as the Elk River to Big Lake Road and lying <br />Southeasterly of US Highway No. 10 as now laid out and traveled and lying west <br />of a line described as follows: Commencing at the northwest comer of said <br />Northeast quarter of the Southwest Quarter; thence south along the west line of <br />said Northeast Quarter of the Southwest Quarter, a distance of 11.15 feet to said <br />northerly line of Old Highway 10 which is known as Elk River to Big Lake Road; <br />thence east along said northerly line deflecting 87 degrees 45 minutes 39 seconds <br />left. a distance of 347.23 feet to the beginning of said line to be described; thence <br />north deflecting 92 degrees 20 minutes 59 seconds left, a distance of 333.18 feet <br />to the southeasterly line of said US Highway No.10 and said line there <br />terminating. Containing 1.80 acres; <br />1.03 The Property is part of a larger property that is to be platted as YANKEE <br />DOODLE CROSSING; and <br />1.04 The EDA has found that the Mortgage will not be impacted by the platting <br />of YANKEE DOODLE CROSSING, <br />NOW THEREFORE, BE IT RESOLVED by the Board of Commissioners (the "Board") of the <br />Economic Development Authority of the City of Elk River (the "EDA") as follows: <br />Section 2. Approval of Consent to Plat. <br />2.01. The Consent to Plat, attached hereto, is hereby approved. <br />102. The approval hereby given of the Consent to Plat includes approval of such <br />498835v] DDSEL185-36 <br />