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3. This Agreement shall be governed by and construed in accordance with the laws of <br />the State of Minnesota, <br />4. This Agreement will run with title to the Park Property and the Country Club <br />Property and is binding upon and inures to the benefit of the parties hereto and their respective <br />successors in title. The covenants and obligations of each of the owners set forth in this Agreement <br />shall be binding upon such owner solely as the owner of the respective property and shall be <br />binding on the owners of the Park Property and Country Club Property and their respective <br />successors and assigns only as to such obligations arising during their respective periods of <br />ownership of the applicable parcel. <br />5. All notices to be given under this Agreement shall be given, in writing, by certified <br />or registered mail, to each owner at the address or addresses to which tax statements would be sent <br />by the taxing authority of Sherburne County, Minnesota, to the owner of such property, but nothing <br />shall prevent actual delivery to the owner by other means. <br />IN WITNESS WHEREOF, the parties hereto have executed this agreement as of the day <br />and year first above written. <br />CITY OF ELK RIVER <br />By: <br />Its Mayor <br />By: <br />Its City Clerk <br />STATE OF MINNESOTA ) <br />) ss. <br />COUNTY OF SHERBURNE ) <br />The foregoing instrument was acknowledged before me this day of , <br />2021, by John J. Dietz and Tina Allard, the Mayor and City Clerk, respectively, of the City of Elk <br />River, a Minnesota municipal corporation under laws of the State of Minnesota, on behalf of the <br />corporation. <br />Notary Public <br />3 <br />