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Resoluitoon 16-26 A Resolution of the City of Elk River Authorizing Conveyance of Several Properties Located at the Southeast Corner of US HWY 10 and Jopii i Street WHEREAS, on November 2, 2015, the City entered into a purchase agreement (Attachment 11 (the "Agreement"), with E&R Investments, LLC ("B&R") to convey several vacant properties located at the Southeast corner of US Hwy 10 & Joplin Street NW (the "Properties"); and WHEREAS, under the Agreement, the City was required to acquire by eminent domain several of the Properties that were encumbered by highway easements and obtain the release of such easements from the State of Minnesota; and WHEREAS, the City has acquired such parcels by eminent domain and obtained the release of the highway easements; and WHEREAS, under the Agreement, the City was also required to acquire one of the Properties from the County of Sherburne (the "County"); and WHEREAS, by Resolution No. RS . adopted contemporaneously with this resolution, the City has authorized the acquisition of the County -owned property; and WHEREAS, with the above preconditions fulfilled or ready to be fulfilled, the City and E&R desire to close on the sale of the Properties; and WHEREAS, prior to closing, the parties must execute an Amendment to the Agreement (Attachment 2), to reflect certain changes to the Properties' legal descriptions. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River, Minnesota, as follows: 1. The Council hereby authorizes the conveyance of the Properties, as legally defined in Exhibit B of the Amendment to the Agreement (Attachment 2); and 2. City staff and the law firm of Kennedy & Graven, Chartered, are authorized and directed to take all steps necessary to convey the Properties pursuant to the Agreement including, without limitation, to execute the Amendment to the Agreement. P O N F `A�1 0 11 A ! U N.