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<br />GRANT OF EASEMENT <br />FOR UTILITY PURPOSES <br /> <br />THIS GRANT OF EASEMENT FOR UTILITY PURPOSES is made on June 11-, 2007, by <br />Park Pointe Limited Partnership, a Minnesota limited partnership ("Grantor") to the City of Elk River, a <br />Minnesota municipal corporation ("Grantee"). <br /> <br />RECITALS <br /> <br />Grantor is the owner in fee simple of real property in the County of Sherburne, Minnesota, which <br />is legally described on Exhibit A attached hereto (the "Property"). Grantee desires to use a portion of the <br />Property for the construction and maintenance of certain utilities. <br /> <br />NOW, THEREFORE, in consideration of the sum of One Dollar ($1.00) and other good and <br />valuable consideration, the receipt and sufficiency of which are hereby acknowledged: <br /> <br />1. Permanent Easement - Grantor hereby grants to Grantee, its successors and assigns, a permanent <br />easement for utility purposes over, under, upon, and across that portion of the Property legally <br />described on Exhibit B (the "Permanent Easement"). The Permanent Easement shall permanently <br />run with the title to the Property and shall inure to the benefit of and be binding upon the parties <br />hereto and their respective heirs, successors, and assigns, including, but without limitation to, all <br />subsequent owners of the Property and all persons claiming under them. <br /> <br />2. Use of Property - Grantor hereby agrees that it will not perform or allow or cause the <br />construction of any improvements on the Permanent Easement which could damage or obstruct <br />the Permanent Easement or interfere with Grantee's access to or Grantee's right to construct, <br />maintain, and repair the utilities on the Permanent Easement. If Grantee alters the condition of <br />the Property as a result of construction, reconstruction, or repair of the utilities within the <br />Permanent Easement, Grantee shall repair or reconstruct the Property to the condition existing as <br />of the date of this Grant of Easement for Utility Purposes. <br /> <br />3. Warranty of Title - Grantor represents and warrants to Grantee that it is the only owner of fee <br />simple title to the Property, and that there are no undisclosed and/or unrecorded mortgages, <br />contracts for deed, leases, rental agreements, occupancy agreements, or any other encumbrances <br />or verbal or written agreement of any nature whatsoever affecting title to the Permanent <br />Easement. Except as expressly provided in Section 2 with respect to Grantee's obligation to <br />repair or reconstruct the Property, Grantor, on behalf of itself and its successors and assigns, <br />hereby indemnifies and holds harmless Grantee against and from any and all claims for loss, <br />