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*. <br />*Thi«t tiid rhllllps*), »tm th« Mll«rt pursuant to tlio Purclisso <br />A«ro««ant and sro tho prosont oimocs in Coo aiaiplo absotuto of <br />tbo Pcopoctp* <br />NHItEAS, upon tho closing of tho transaction contooplatod <br />in# antf subject to tho tocais anP conditiona of* tho Purchaso <br />Agrootnont, Thioa and Phillips shall grant and warrant to tbo <br />Oovolopor (a) foo sinplo absolute title In and to that portion <br />of tho Proporty which will bo legally described as Lot 2* block <br />2* and Outlet A* Orono School Bspanslen, according to tho plat <br />thereof to bo recorded in tho office of tho County locordor in <br />and for Hennepin County* Minnesota (the *Plat*) and (b) a <br />leasehold interest in t<ot 1* Block 2* and Irfits I and 2* block 1* <br />of the Plat* together with an option to purchase fee sinple <br />absolute title in and to said Lot I* Block 2* and Lots 1 and 2* <br />block 1. <br />MHBblAS* the City Council has granted approval Cor tho <br />Plat on tbo condition that tho Oovolopor* with tho consent of <br />the Thios and Phillips* enter into this Agteoa <br />... * ' ^ <br />tho tonw and conditions upon whioh tho 0ovolopoc"1ibsll~bo <br />: <br />it to provido jCos <br />^.......** <br />, <br />obllf atod rto.inatall .coctalnlTpublio :roa**ay ^and.Htllity'; <br />h'*?-iai»r iti ■ boroinaftor doscrlbod^on tbo tofiw^and oowiUIom <br />MNBBIAS* the City Council baa granted approval of tbo <br />M