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of <br />LAM <br />ResaWttion 16-85 <br />A Resolution of the City of Elk River Authorizing Acquisition of a Portion of <br />Old Highway 10 from Sherburne County <br />WHEREAS, on November 2, 2015, the City entered into a purchase agreement with E&R <br />Investments, LLC ("E&R") to convey several vacant properties located at the Southeast comer of US <br />Hwy 10 & Joplin Street NW (the "Properties"); and <br />WHEREAS, under the agreement with E&R, the city was required to acquire a portion of old <br />Highway 10 from the County of Sherburne (the "County Property"); and <br />WHEREAS, on March 7, 2016, the city entered into a purchase agreement with the County of <br />Sherburne to acquire the county property; and <br />WHEREAS, the city and E&R desire to close on the sale of the properties to E&R; and <br />WHEREAS, prior to closing, it is necessary for the city and the county to execute an Amended <br />and Restated Purchase Agreement (Attachment 1), which amends the original purchase agreement with <br />the county to acknowledge that it is no longer necessary to facilitate the relocation of a county -owned <br />billboard and to correct the legal description of the county property. <br />NOW, THEREFORE, BE 17 RESOLVED by the City Council of the City of Elk River, Minnesota, <br />as follows: <br />1. The Council hereby authorizes the acquisition of the county property, as provided in the Amended <br />and Restated Purchase Agreement (Attachment 1); and <br />2. City staff and the law firm of Kennedy & Graven, Chartered, are authorized and directed to take all <br />steps necessary to close on the acquisition of the county property including, without limitation, to <br />execute the Amended and Restated Purchase Agreement. <br />Passed and adopted this 19`° day of December 2016. <br />n Jj6ictz, ayor <br />ATTEST: <br />Tina Allard, City Clerk <br />P0*IOII I <br />NATURE <br />