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MEMORANDUM OF AGREEMENT <br /> CITY OF NEW BRIGHTON <br /> LONG LAKE INTERCEPTOR REHABILITATION PROJECT <br /> Fee Owner: LVP, LLC Parcel No.: 20-30-23-43-0008 <br /> On this day of , 2021, , the of <br /> LVP, LLC, the Owner of the above-referenced parcel of property located in Ramsey County, <br /> Minnesota, executed and delivered an easement to the City of New Brighton (the "City"). <br /> This Memorandum includes all the terms, and the only terms, agreed in connection with the <br /> above transaction. The parties agree that: <br /> 1. The Owner has been furnished with the approved estimate of just compensation <br /> for the property interests acquired and a summary statement of the basis for the <br /> estimate. The Owner understands that the acquired property interests are for use <br /> by the City and Metropolitan Council Environmental Services ("MCES") in <br /> connection with the project referenced above. <br /> 2. The Owner acknowledges the necessity for, and the public purpose of, the project. <br /> 3. In full compensation for the grant of easements, the City will pay the Owner a <br /> total of$8,300.00. <br /> 4. The City will pay the compensation amount to the Owner within ten days after <br /> receiving the easements. <br /> 5. The City may record the easements at its expense. <br /> 6. The parties agree to cooperate, as necessary to make the easements recordable, if <br /> recording is desired by the City. <br /> NE136-24-727019.v1 <br />