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TERMINATION OF DEVELOPMENT AGREEMENTS <br />The City of Elk River, a Minnesota municipal corporation (the "City"), Richard C. <br />Foster ("Developer"), Coborn Realty Company Limited Partnership, a Minnesota limited <br />partnership ("Coborn Realty") and Coborn's, Incorporated, a Minnesota corporation <br />"Coborn's") make this Termination of Development Agreements (this "Termination") effective <br />as of March , 2009 (the "Effective Date"). <br />Recitals <br />A. Coborn's owns Lot One (1), Block Two (2), Hillside Crossing, Sherburne County, <br />Minnesota ("Lot 1 "). <br />B. Coborn Realty owns Lot Two (2), Block Two (2), Hillside Crossing, Sherburne <br />County, Minnesota ("Lot 2"). <br />C. Lot 1 and Lot 2 referred to collectively herein as the "Lots". <br />D. The City entered into an Addendum to Development Agreement Hillside Estates <br />First Addition with Richard C. Foster, (the "Hillside Estates Developer") dated <br />October 28, 1992, and recorded November 13, 1992, as Document No. 269108 in <br />the office of the County Recorder, in and for Sherburne County, Minnesota (the <br />"Hillside Estates Development Agreement"), which was recorded against the <br />Lots. <br />E. The City also entered into a Developer Agreement Hillside Crossing with Richard <br />C. Foster and Anita L. Foster, husband and wife dated August 30, 1994, and <br />recorded with the Sherburne County Recorder on August 30, 1994, as Document <br />No. 299486 (the "Hillside Crossing Developer Agreement"), which was recorded <br />against the Lots. <br />PMarch 12, 2009:02009 03 OS <br />Termination of DA Hillside crossing hillside estates.rtf <br />