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CITY OF NEW BRIGHTON COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 09-009 LUTION AUTHORIZING PURCHASE AND LAND EXCHANGE AGREEMENT IETWEEN THE CITY OF NEW BRIGHTON AND MT PROPERTIES, INC. WHEREAS, the City of New Brighton is the owner of certain real estate located in the City Brighton, County of Ramsey, State of Minnesota, as described in the attached Exhibit A and I in the attached Exhibits B-1, B-2 and B-3 (the "Exchange Property"); and CijfHEREAS, MT Properties, Inc. ("MT") is the owner of certain real estate located in the Cit fNew Brighton, County of Ramsey, State of Minnesota, as described in the attached Exhibit C d icted in the attached Exhibit D (the "Butcher's Spur"); and WHEREAS, the City has entered into a Letter of Understanding by and among the City, MT andinnesota Commercial Railway Company; and EREAS, the Letter of Understanding contemplated that the City and MT would enter into agreement providing for MT to convey the Butcher's Spur to the City in exchange for the Cit o veying the Exchange Property, plus additional consideration, to MT; and IEREAS, the parties have negotiated a Purchase and Land Exchange Agreement to the Letter of Understanding; and HEREAS, the City Council has determined that it is in the public interest to convey the Property in accordance with the Purchase and Land Exchange Agreement. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE NEW BRIGHTON as follows: The recitals set forth in this Resolution are incorporated into and made a part of this Resolution. f The mayor and city manager are authorized and directed to execute the Purchase and Land Exchange Agreement. The mayor and city manager are authorized and directed to execute all necessary and appropriate documents to implement the provisions of the Purchase and Land Exchange Agreement in accordance with the terms and conditions thereof including, but not limited to the agreements referenced in the Purchase and Land Exchange Agreement and attached as exhibits that that agreement and all other instruments and documents customary to such transactions.