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EXHIBIT I <br />LEGAL DESCRIPTION <br />A parcel of land lying in the North Half of the Southwest Quarter of Section 34, Township 33, <br />Range 26, Sherburne County, Minnesota, described as follows: <br />Beginning at the southwest corner of Lot 1, Block 3, of the Village of Elk River, according to <br />said plat on file and of record in the office of the Register of Deeds, Sherburne County, <br />Minnesota; thence North 11 degrees 06 minutes 40 seconds East, an assumed bearing, along the <br />West line of said Lot 1, a distance of 179.00 feet to the Northwest corner of said Lot 1, being a <br />point on the southerly line of the state highway right of way of Trunk Highway No. 10; thence <br />North 64 degrees 17 minutes 53 seconds West a distance of 121.42 feet along said southerly right <br />of way line to a line drawn parallel with and distant 80.00 feet East of the East line of Block 2 of <br />said plat; thence South 11 degrees 06 minutes 40 seconds West along said parallel line a distance <br />of 210.28 feet to the northerly line of right of way of Main Street as dedicated in said plat; thence <br />South 79 degrees 13 minutes 30 seconds East along said northerly right of way of Main Street a <br />distance of 117.50 feet to the point of beginning. <br />