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~ ~-! ., -~ ~ . CITY OF NEW BRIGHTON COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 01-~62 A RESOLUTION AUTHORIZING EXECUTION AND DELIVERY OF A SECOND AMENDMENT TO CONTRACT FOR PRIVATE REDEVELOPMENT BY AND BETWEEN THE CITY AND MAINSTREET VILLAGE, LLC, AND CONSENT TO ASSIGNMENT AND ASSUMPTION AGREEMENT. BE IT RESOLVED by the City Council (the "Council") of the City of New Brighton, Minnesota (the "City"), as follows: Section 1. Recitals. 1.01 The City has heretofore entered into a Contract for Private Redevelopment, dated as of May 15, 2000 (the "Redevelopment Contract"), by and between Mainstreet Village, LLC (the "Redeveloper") and the City with respect to certain development to occur on the Redevelopment Property (as defined in the Redevelopment Contract). 1.02 The City thereafter entered into a First Amendment to the Contract for Private Development, dated as of October 24, 2000 (the "First Amendment"), by and between the Redeveloper and the City. 1.03 It has been proposed that the City and the Redeveloper further amend both the Redevelopment Contract and the First Amendment, as provided in the Second Amendment to the Contract for Private Redevelopment (the "Second Amendment") between the City and the Redeveloper. 1.04 The Redeveloper has proposed to convey a portion of the Redevelopment Property to and to assign the Redevelopment Contract, as amended by the Second Amendment and as it relates to such portion of the Redevelopment Property, to New Brighton Leased Housing Associates I, Limited Partnership, a Minnesota limited partnership ("New Brighton Leased Housing"), through an Assignment and Assumption Agreement by and between the Redeveloper and New Brighton Leased Housing (the "Assignment").