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Memorandum of Understanding <br />This MEMORANDUM OF UNDERSTANDING ("MOU") is made and entered into as <br />of the day of NOVWtr 2024 by and between the ELK RIVER <br />HOUSING AND REDEVELOPMENT AUTHORITY, a public body corporate and politic <br />("HRA") and the DOWNTOWN ELK RIVER BUSINESS ASSOCIATION, a Minnesota <br />nonprofit corporation ("Association"). <br />RECITALS <br />WHEREAS, the HRA owns the real property located at 724 Main Street NW, Elk River, <br />Minnesota 55330, with a PID of 75-00405-0225 (the "Property"); and <br />WHEREAS, the Association has offered to place and light seasonal trees and other <br />amenities (collectively "Items") on the Property for use by the public during the 2024 holiday <br />season; and <br />WHEREAS, the Association has arranged to obtain the necessary trees and amenities at <br />its own sole expense; and <br />WHEREAS, the HRA believes that these activities will benefit the public and further a <br />public purpose by supporting the HRA's efforts to promote redevelopment in the City of Elk River <br />areas; and <br />WHEREAS, the parties to this MOU wish to memorialize their understanding. <br />NOW, THEREFORE, the HRA and the Association have reached the following <br />understandings: <br />1. Purpose. The purpose of this MOU is to establish a mutual understanding of the parties' <br />intentions, rights, and obligations. <br />2. Use and Placement Authorized. The Association may place lighted trees and related <br />amenities on the Property. <br />3. Responsibilities of Association. The Association shall be solely responsible for acquiring, <br />transporting, placing, maintaining, cleaning, repairing, and removing the trees and amenities, and <br />ensuring safe installation and operation. In no case shall the City be responsible for any portion of <br />the cost associated with the placement on the Property. <br />4. Responsibilities of the HRA. The HRA shall allow the Items to be placed on the Property, <br />and shall not remove the Items except as provided in this MOU. If the Items become damaged, <br />defaced, in disrepair, unsightly, or begins to encroach on or obstruct the use of the Property or <br />nearby uses, the HRA may, but is under no obligation to, remove and dispose of the affected <br />portion of the placed Items. <br />230863v2 <br />Page 28 of 32 <br />