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<br /> <br /> <br /> <br /> <br /> <br /> <br />LICENSE AGREEMENT <br />THIS LICENSE AGREEMENT (“Agreement”) is made this _________ day of <br />________________, 2018, by and between the CITY OF ELK RIVER, MINNESOTA, a <br />Minnesota municipal corporation (“Licensor”) and PIPE PORTFOLIO OWNER (MULTI) <br />LP, a Delaware limited partnership, its successors and assigns (“Licensee”). <br />RECITALS <br />A. Licensor is the owner of the property described on Exhibit A attached hereto and <br />located in the City of Elk River, County of Sherburne, State of Minnesota (the “Property”). <br />B. Licensee has requested Licensor to grant a license to Licensee to use that portion <br />of the Property designated as the “License Area” on Exhibit B attached hereto for the limited <br />purposes set forth in this Agreement. <br />C. The License Area is not presently needed by Licensor for public purposes, but <br />does contain certain public utilities to which Licensor requires 24 hours per day, 7 days per week <br />access. <br />D. Licensor agrees to grant to Licensee the right to use the License Area for limited <br />purposes, upon the terms and conditions of this Agreement. <br />NOW, THEREFORE, in consideration of the Recitals and the agreements contained <br />herein, Licensor and Licensee agree as follows: <br />1. License. Licensor hereby grants to Licensee, its tenants, invitees, agents, <br />contractors, employees and guests, subject to the terms and conditions of this Agreement, a non- <br />exclusive license (the “License”) to use the License Area. <br />2. Term. The term of the License shall be for an unlimited period unless sooner <br />terminated as hereinafter provided. <br />3. No Interest in License Area. Licensee acknowledges and agrees that this <br />Agreement does not grant Licensee any estate or other interest in the License Area or any part <br />thereof, except the License expressly described herein. <br />193313v5 <br /> <br />