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CONSULTING AGREEMENT <br />THIS CONSULTING AGREEMENT (this "Agreement") is made and entered into as of <br />August , 2010 ("Effective Date"), by and between Montgomery Realty Advisors, LLC, a <br />Minnesota limited liability company ("Consultant"), and the City of New Brighton (the "City"). <br />RECITALS: <br />A. The City has acquired property located at the northwest intersection of Interstate <br />Highways 35W and 694 in the City of New Brighton, Minnesota and is developing the property as a <br />business and residential park, which is known as the Northwest Quadrant Project (the "Project"). <br />The Project consists of approximately 11 parcels ("Parcels") of land totaling approximately 83 net <br />developable acres. <br />B. Consultant has experience in the marketing, sale and development of commercial <br />property. <br />C. City desires to hire Consultant to render the services described herein with respect to <br />the Project, and Consultant desires to render such services for the consideration and on the terms <br />and conditions set forth below. <br />D. Capitalized words and terms used in this Agreement and not otherwise defined shall <br />have the meanings ascribed to such words and terms in Exhibit A attached hereto and made a part <br />hereof. <br />NOW THEREFORE, in consideration of the promises and the mutual covenants set forth <br />below, the parties agree as follows: <br />1) Incorporation of Recitals. The recitals set forth above are incorporated into this <br />Agreement by reference as if fully set forth herein and made a material part hereof. <br />2) Appointment of Consultant. City hereby engages Consultant as an independent <br />contractor to perform the services described herein, all in accordance with this Agreement. <br />Consultant hereby accepts such engagement and shall perform the duties and responsibilities <br />described in this Agreement in accordance with and subject to the terms and conditions contained <br />in this Agreement. Consultant's services hereunder shall be performed by Consultant as an <br />independent contractor, and nothing contained in this Agreement or in the relationship of Owner <br />and Consultant shall be deemed to constitute any other relationship, such as that of partners or joint <br />venturers, or to constitute Consultant as an employee or partner of Owner, or to create any other <br />relationship (other than that of owner and independent contractor) between Consultant and City, <br />express or implied. <br />3) Representations and Warranties. <br />564003.00692.22919774.1 <br />