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MBG COMMERCIAL EXCLUSIVE <br />LISTING AGREEMENT - SALE <br />EXHIBIT B <br />General Understanding of Sale Terms <br />For Property at 609 Old Highway 8 N W New Brighton MN <br />4725 Excelsior Boulevard, Suite 500 <br />Minneapolis, MN 55416 <br />(952)922-4405 <br />The provisions of this Exhibit B are subject to and shall be deemed a part of that certain Commercial <br />Exclusive Listing Agreement - Sale dated , 2009 by and between MINNESOTA <br />BROKERAGE GROUP ("BROKER") and City of New Brighton ("SELLER"). <br />Suggested List or "Ask" Price: $420 000 * (Normal marketing_ period of up to <br />12 months or 1 ear <br />* Seller, at its discretion, may negotiate and/or accept an actual sale price, at, above, or below <br />the List Price. <br />0 Length of Inspection/Due Diligence Period: 45 Days <br />Condition of Property: "As -is" condition, with all faults. <br />Deliveries: SELLER will furnish an Abstract of Title, Registered Property Abstract or commitment for an <br />ALTA owner's policy of title insurance, certified to date, including proper searches covering bankruptcies <br />and State and Federal judgments and liens. SELLER will furnish a copy of the most recent Phase 1 <br />Environmental Assessment if available. SELLER will deliver such other documents as may be required to <br />consummate the sale of the Property in accordance with the terms above designated or such other terms to <br />which SELLER may hereafter consent. <br />Conveyance of Title: SELLER will convey title to the property by a Limited Warranty Deed <br />Other Terms: <br />C] <br />