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SECOND AMENDMENT TO <br /> CONTRACT FOR PRIVATE REDEVELOPMENT <br /> This SECOND AMENDMENT TO CONTRACT FOR PRIVATE REDEVELOPMENT <br /> (the "Second Amendment") is made on or as of _ , 2011, by and between the <br /> City of New Brighton (the "City"), of the State of Minnesota, APi Group Headquarters, LLC, a <br /> Minnesota limited liability company (the "Redeveloper") and, for purposes of paragraph 4 below <br /> only, Joseph R. Link("Guarantor"). <br /> WHEREAS, the City and the Redeveloper entered into a Contract for Private <br /> Redevelopment dated May 10, 2007 (the "Contract"); and <br /> WHEREAS, the City the Redeveloper entered into the First Amendment to Contract for <br /> Private Development dated , 2008 (the "First Amendment"); and <br /> WHEREAS, the City and the Redeveloper desire to amend the Contract to extend the <br /> dates for the performance of certain obligations thereunder and for other purposes set forth <br /> herein. <br /> NOW, THEREFORE, in consideration of the premises and the mutual obligations of the <br /> parties hereto,the parties hereby agree as follows: <br /> 1. Section 5.2 is amended to read as follows: <br /> Section 5.2. Construction of Minimum Improvements. The Redeveloper <br /> shall construct the Minimum Improvements in accordance with the Construction <br /> Plans approved by the City. The Redeveloper substantially completed <br /> construction of the First Building on August 29, 2008 and the City issued a <br /> Certificate of Occupancy on September 8, 2008. The City issued a footing and <br /> foundation permit to the Redeveloper for the Second Building on June 26, 2007. <br /> On or about September 1, 2007, the Redeveloper suspended construction work on <br /> the Second Building. Subject to Unavoidable Delays, the Redeveloper shall <br /> resume construction of the Second Building on or before May 15, 2012 and <br /> complete construction on or before December 31,2012. <br /> 2. Sections 5.8 is amended to read as follows: <br /> Section 5.8. Payment in Lieu of Tax Increment for Second Building. The <br /> Redeveloper shall make the following payments in lieu of tax increment to the <br /> City for the unconstructed Second Building as follows: <br /> (i) $9,400 in 2009, with half payable on each of May 15 and October <br /> 15; and <br />