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REHABILITATION GRANT PROGRAM AGREEMENT THIS REHABILITATION GRANT PROGRAM AGREEMENT (hereinafter "Agreement") is made and entered into this '7 ay of M(64444.- 2012, by and between the City of Louisville, a Colorado home rule municipal corporation (hereinafter "City ") and Amterre Property Group, LLC, a Colorado limited liability company (hereinafter "Owner "). WITNESSETH: WHEREAS, the City has made certain proceeds of the Historic Preservation Fund (hereinafter "HPF ") available to help property owners rehabilitate and preserve those resources which contribute to the character of historic Old Town Louisville; and WHEREAS, the Owner will be the owner in fee simple of certain real property described on Exhibit A, attached hereto and incorporated herein by this reference (hereinafter the "Property ") and the Historic Grain Elevator improvements thereon (hereinafter the "Structure ") located at 540 County Road, Louisville. Colorado; and WHEREAS, the City and Owner both desire that the Structure be stabilized, rehabilitated and redeveloped to retain its historically and architecturally significant features, while being sensitively adapted and altered, where necessary and as mutually agreed, to provide for contemporary uses; and WHEREAS, the Owner will submit an application to the City for approval of a Rehabilitation Grant for funding of the purchase of the Property, and for the stabilization and rehabilitation of the exterior, interior, architectural and structural improvements to the Structure; and WHEREAS, on July 17, 2012, the City Council adopted Resolution No. 41, Series 2012, approving a non - binding Letter of Intent with Owner outlining the City's assistance to the Property (the "Resolution "); and WHEREAS, the City and Owner desire to enter into this Agreement to set forth their understandings regarding City assistance, in the amount of up to $2,100,000, for funding to purchase, stabilize and rehabilitate and redevelop the Structure, including certain site improvements to the Property as further detailed in this Agreement, with the exterior of the Structure to be landmarked and the Owner to grant to the City a conservation easement for the Structure in furtherance of the requirements of Section 3.20.605 of the Louisville Municipal Code (hereinafter "LMC "); and NOW THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties hereto agree as follows: 1. ACTIONS REQUIRED OF THE OWNER: The Owner hereby commits to the following actions relating to improvements on the Property: a. Purchase the Property. 1