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<br />ESTOPPEL CERTIFICATE <br /> <br />THE STATE OF MINNESOTA § <br /> § KNOW ALL MEN BY THESE PRESENTS: <br />COUNTY OF SHERBURNE § <br /> <br />THIS ESTOPPEL CERTIFICATE (this “Certificate”) has been executed this _____ day <br />of _________________, 2022, by the City of Elk River, Minnesota, a municipal corporation <br />organized under the laws of the State of Minnesota (“City”), to and for the benefit of CRISTOBAL, <br />INC., a Delaware corporation (“Cristobal”). <br />R E C I T A L S: <br />A. Cristobal has now or will soon hereafter acquire fee title to that certain project <br />located at 14100 Business Center Drive, Elk River, Minnesota 55330 (the “Property”). The current <br />owner of the Property is JPM Capital Corporation, a Delaware corporation (“Seller”). The current <br />tenant at the Property is United Healthcare Services, Inc. (“United”). <br />B. Reference is made to that certain Sanitary Sewer Easement Agreement dated <br />August 2, 2011 and recorded on August 17, 2011 under Doc No. 735569 in the Office of the <br />County Recorder in Sherburne County, Minnesota (the “Easement”). Unless otherwise defined <br />herein, all initially capitalized terms have the respective meanings assigned to such terms in the <br />Easement. <br />C. As a condition to Cristobal’s acquisition of the Property, Cristobal has requested, <br />and the City has agreed, to deliver this Certificate with respect to certain matters covered under <br />the Easement. Cristobal would not have agreed to acquire the Property in the absence of this <br />Certificate. <br />In consideration of the recitals set forth above, the City hereby certifies to Cristobal, and <br />otherwise consents and approves, the following: <br />ARTICLE I <br /> <br />EASEMENT MATTERS <br />Section 1.01 Easement. The Easement is currently in full force and effect and has not, <br />except as noted above, been modified or otherwise amended. The Easement does not contain any <br />reacquisition or similar options. United has not defaulted under, nor otherwise violated the terms <br />set forth in, the Easement. <br />Section 1.02 Sewage Facilities. The Sewage Facilities have been installed to such <br />specifications as the City required, and have been approved by the City. United has reimbursed to <br />the City all costs incurred by the City to maintain, repair and replace the Sewage Facilities, through <br />the date hereof, as required under the Easement. <br />224159v2 <br /> <br />