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. " ~. .' . FIRST AMENDMENT TO THE CONTRACT FOR PRIVATE REDEVELOPMENT THIS AGREEMENT is made on or as of this 10th day of May, 1994 by and between the City of New Brighton, Minnesota (the "City") and stony Lake Properties, Inc., a Minnesota corporation. (the "Redeveloper"). WITNESSETH: WHEREAS, the City and the Redeveloper entered into a Contract for Private Redevelopment dated as of September 3, 1993 (the "Contract" - Capitalized Terms not defined in this Agreement are defined in the Contract); and WHEREAS, the City and Redeveloper desire to amend the Contract to further the purposes set forth therein; NOW, THEREFORE, in consideration of the premises and the mutual obligations of the parties hereto, the parties hereby agree as follows: Section 1. Section 2.1 of the Contract is amended by adding a new subsection (i). (i) The City also recognizes that located on or under the Redevelopment Property are certain releases of petroleum as those terms defined in Chapter 115 C of Minnesota Statutes and are further described in the reports set forth in Schedule C and which require mediation. The City will comply with any M.P.C.A. approved Work Plan and will secure a closure letter from the M.P.C.A. indicating that the clean-up has been performed in accordance with the Work Plan. The City further agrees to remediate any other hazardous substances, as described in the reports in Schedule C, in accordance with any M.P.C.A. approved Work Plan provided that the City is a responsible person (as defined in Chapter 115 B of Minnesota statutes) and provided that the Work Plan is obtained within five (5) years of the date of this Agreement. Section 2. Section 2.2 of the Contract is amended by adding a new subsection (m). (m) The Redeveloper will assist the City with the City's implementation of its Tax Increment District No. 18 Tenant-Owner Relocation Assistance Program (the "program"). Under the Program tenant-owners in Tax Increment District No. 18 who are forced to relocate