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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> • COUNTY OF SHERBURNE <br /> STATE OF MINNESOTA <br /> RESOLUTION 08- 08 <br /> RESOLUTION APPROVING THE ASSIGNMENT OF ASSOCIATED INVESTORS OF <br /> ELK RIVER,INC.'S RIGHT, TITLE AND INTEREST IN THE CONTRACT FOR <br /> PRIVATE REDEVELOPMENT BY AND BETWEEN THE ECONOMIC <br /> DEVELOPMENT AUTHORITY IN AND FOR THE CITY OF ELK RIVER AND <br /> ASSOCIATED INVESTORS OF ELK RIVER,INC.,FISHER SAND AND <br /> AGGREGATE,LLP,AND ELK RIVER BUSINESS PARK,LLC <br /> WHEREAS, the Economic Development Authority in and for the City of Elk River <br /> ("EDA") has entered into a Contract for Private Redevelopment ("Contract")by and between the <br /> EDA and Associated Investors of Elk River, Inc., Fisher Sand and Aggregate, LLP, and Elk <br /> River Business Park, LLC (collectively, the"Redeveloper"), dated July 30, 1999; and <br /> WHEREAS,pursuant to Section 7 of the Contract, the right, title and interest in the <br /> Contract of each of the developer entities maybe assigned with approval of the EDA,which <br /> approval will not be unreasonably withheld or delayed; and <br /> WHEREAS, the EDA has received a request that it consent to the assignment of <br /> • Associated Investors of Elk River, Inc.'s right, title and interest in the Contract to Ann S. Fisher, <br /> Trustee of the Ann S. Fisher Living Trust u/d/t February 2, 1995; and <br /> WHEREAS, the EDA has determined that the ability of the Redeveloper to perform its <br /> obligations under the Contract will not be materially impaired by the requested assignment; <br /> NOW, THEREFORE,BE IT RESOLVED by the Board of Commissioners of the Elk <br /> River Economic Development Authority that the assignment of Associated Investors of Elk <br /> River, Inc.'s right, title and interest in the contract to Ann S. Fisher, Trustee of the Ann S. Fisher <br /> Living Trust u/d/t February 2, 1995 is hereby approved. <br /> Dated: November 10, 2008 <br /> f <br /> ,;---j <br /> Patrick Dwyer,President <br /> ATTEST: <br /> Illir <br /> ii�/... <br /> : _(._, A,_, <br /> Car enne Mehelich, Executive Director <br /> IIIGP:2474182 vl <br />