CCP 04-10-2007 - Laserfiche WebLink

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. THIRD AMENDMENT TO CONTRACT FOR PRIVATE DEVELOPMENT This Third Amendment to Contract ("Third A mendment") is made as of the day of , 2007 by and between the City of New Brighton, Minnesota (the "City") and Dalstar S Avenue, LLC, a Minnesota limited liability company (the "Redeveloper"), successor in interest to Dalstar New Brighton, LLC, a Minnesota limited liability company. WHEREAS, the City and Dalstar New Brighton, LLC entered into a Contract for Private Redevelopment dated as of August 22, 2000, as amended as of August 5, 2003 and as of November 3, 2005 (as sa amended, the "Contract"); WHEREAS, the Contract contemplated that once the City had acquired the Bell Parcel (as defined in the Contract), the Redeveloper would purchase bath the Option Property (as defined in the Contract) already awned by the City and the Bell Parcel from the City; WHEREAS, the parties acknowledge that acquisition by the City of the Bell Parcel has been determined to be unfeasible and, consequently, wish to eliminate the requirement that the City acquire the Bell Parcel and, instead, have agreed to an . enlargement and reconfiguration of the Option Property to accommodate the Redeveloper's construction of its Expansion Space (as defined in the Contract); WHEREAS, any capitalized terms not defined in this Third Amendment shall have the respective meanings ascribed to them in the Contract; and WHEREAS, the City and the Redeveloper hereby reaffirm the terms of the Contract but also 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, the parties hereby agree as follows: Section 1. The definition of "Bell Parcel" in Section 1.1 of the Contract is deleted. Section 2. The following definition is added to Section 1.1: "City Parcel" means the parcel owned by the City with property identification number 29-30-23-43-00] 9. Section 3. '1"he first sentence of the definition of "Expansion Space" in Section ] .1 is amended by deleting the words "which shall not exceed 40,000 square feet".