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cafuGt 44 <br /> LISTING AGREEMENT <br /> THIS AGREEMENT made and entered into as of the 26-LLA day of June, 2011, by <br /> and between the City of New Brighton, a Minnesota municipal corporation, having its principal <br /> offices at 803 Old Highway 8 NW, New Brighton, Minnesota 55112 ("City") and Welsh <br /> Companies, LLC, having its principal offices at 4350 Baker Road, Suite 400, Minnetonka, <br /> Minnesota 55343 ("Agent"). <br /> WHEREAS, City is the owner of a certain parcel(s) of vacant land located in the City of <br /> New Brighton, Minnesota, which parcel(s) of land is designated for office and/or mixed use <br /> development by City, is described on Exhibit A attached hereto ( "Property"); and <br /> WHEREAS, City has entered into a Redevelopment Services Agreement with Ryan <br /> Companies U.S., Inc. ( "Redeveloper") to assist with the development of the Property with <br /> office/showroom and mixed use development; and <br /> WHEREAS, the Property is within Development District No. 1 (the "District") and the <br /> City has the authority pursuant to Minn. Stat. 469.124, et seq to provide for the sale and leasing <br /> of property within the District to further the City's development goals and this Agreement is to <br /> assist in that effort; and <br /> WHEREAS, the proposed development projects to be facilitated and undertaken by the <br /> Redeveloper on the Property will be build-to-suit and speculative development projects; and <br /> WHEREAS, the parties hereto desire to enter into an agreement whereby City appoints <br /> Agent as the exclusive Agent to assist City in the sale of the Property, subject to and in <br /> accordance with the terms, covenants, conditions and agreements herein contained; and <br /> WHEREAS, the City desires to hire Agent to market the Property independently of the <br /> Redeveloper as well as to enter into separate written agreement(s) to market the Redeveloper's <br /> proposed development of the Property. <br /> NOW, THEREFORE, in consideration of the foregoing, and in consideration of the <br /> mutual terms, covenants, conditions and agreements herein contained, the parties hereto agree as <br /> follows: <br /> 1. Employment of Agent. City hereby retains Agent as its exclusive Agent to assist <br /> the City in the sale of the Property upon the conditions and for the terms and compensation <br /> hereinafter set forth. In no event shall this Agreement be interpreted to include any other land or <br /> future buildings located on or near the property. <br /> 1 <br />