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AGREEMENT THIS AGREEMENT, made and entered into this, day of cv-f ,t I), 1973, by and between R.C.E...Corporation, a corporation under,the laws of the State of Minnesota, and Richard C. Ernst,'personally, and as the President' of said R.C.E. Corporation, party of the, first part; and Keith T. Harstad,party of the second part, witnesseth: Whereas, the party of the first part has acquired certain lands and leases on strip-shopping centers to,be built as hereinafter des- cribed;., and Whereas, the party of the second part has obtai nidi,Af dtkefi bk financing for the project; Now therefore, in consideration of the parties' mutual covenants and promises, it is herein understood and agreed between the parties as follows: Thb parties hereto agree to construct jointly four strip-shopping centers on parcels of land hereinafter described, said construction hav- ing been commenced on the first two parcels hereinafter described; and the parties herein mutually agree that all construction shall be com- pleted no later than December 15, 1973. It is understood and agreed that the party of the first part has acquired four parcels of land, hereinafter described, has acquired four 20-year leases from "711 Stores" to rent one store at each parcel of land, and has acquired a mortgage committment from the Towle Company for the sum of $540,000.00 payable at 8 7/8% per annum interest with monthly payments amortized over 23 years, subject to said strip shopping centers: being constructed and leased. Parcel.l: 2200 County Road E, Nero Brighton, legally described as S. 233' of W. 183' of SE 1/4, Sec. 30, Township 30, Range 23, subject to County Road E and Silver Lake Road, Ramsey,County, Minn. This parcel:has been paid for in full by the parties hereto; and R.C:E. Corporation has received a deed to the same. In addition, first party has acquired a 50' strip of land immediately to the north, for which it has agreed to pay the sum of $5,000.00 to the owner, Fisher.