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AMENDMENT <br />TO <br />DEVELOPMENT AGREEMENT <br />This Amendment to Development Agreement is made and entered into effective as of <br />, 2017, between and among the City of Orono, a municipal corporation (the <br />"City"), and the Orono Housing and Redevelopment Authority, a body corporate and politic, and <br />a political subdivision (collectively, the "HRA"), and , <br />LLC, a Minnesota limited liability company (the "Developer"). <br />BACKGROUND <br />The City, the HRA and Orono Senior Housing, LLC, a Minnesota limited liability company <br />(the "Original Developer") are parties to that certain Development Agreement relating to Orono <br />Woods Apartments (including Tax Increment Financing District No. 1-1) dated November 30, <br />2001 (collectively, the "Development Agreement"). All capitalized terms which are defined in the <br />Development Agreement will have the same meaning(s) when used in this Amendment. <br />Developer named above has succeeded to the interests of the Original Developer under the <br />Development Agreement, and with respect to the Development Property and the Project. <br />Developer named above will for all purposes be deemed to be the "Developer" under the <br />Development Agreement. <br />Effective as of the date of this Amendment, the Ground Lease referenced in the <br />Development Agreement has been terminated, and the City/HRA has conveyed fee title to the <br />Project and the Development Property to the Developer, subject to the terms of the Development <br />Agreement, as amended hereby. The Housing Bonds referenced in the Development Agreement <br />have been paid and satisfied of record and in full. <br />The parties wish to amend and modify certain provisions of the Development Agreement, <br />and have entered into this instrument to memorialize such changes. <br />NOW, THEREFORE, the parties agree as follows: <br />1. Term. The date of "February 1, 2024" appearing in Section 1.1(w) of the <br />Development Agreement is hereby amended to read: " <br />2. Signatures in Counterparts and/or by Electronic Transmission. The undersigned <br />agree that this instrument may be signed in any number of counterparts, each of which will <br />constitute an original, and that an electronic pdf transmission of any signature, of any party, will <br />be deemed as enforceable and effective as an original signature. All such counterparts together <br />will constitute one and the same instrument. <br />{00354631 1 <br />