10.01 Purchase Agreement for Pequot Lakes Industrial Park Lot1, Block 2

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EXHIBIT B (1'op 3 inches reserved for recording data) QUIT CLAIM DEED eCRV number: DEED TAX DUE:$ Date: FOR VALUABLE CONSIDERATION,the City of Pequot Lakes,a municipal corporation under the laws of the State of Minnesota("Grantor"),hereby conveys and quitclaims to The Dotty Holdings Limited Liability Partnership,a limited liability partnership under the laws of the State of Arizona("Grantee"),real property in Crow Wing County,Minnesota,legally described as: Lot 1,Block 2,Pequot Lakes industrial Park,City of Pequot Lakes,Crow Wing County,Minnesota together with all hereditaments and appurtenances belonging thereto. Subject to the following restrictions,covenants,and conditions: 1. The real property herein conveyed shall be devoted to the following use:light industrial. 2. The real property shall be devoted to such intended use by the Grantee in accordance with the provisions of this Deed. 3. The Grantee shall devote the real property to its intended use by December 31,2020. If the Grantee fails to devote the real property to its intended use on time,title to the real property shall revert to Grantor,at Grantor's election,and,in that event,Grantee shall promptly offer a deed to the real property to Grantor,who will then refund to Grantee the amount of the Purchase Price paid by Grantee to Grantor,without interest,less any taxes and other encumbrances affecting marketability of title. Notwithstanding the foregoing,Grantor may,at its option,consider an extension of time for good cause shown by Grantee. In the event an extension is granted,such extension(a)shall be to a date certain, (b)may be conditioned by Grantor to protect the public interest,and(c)during the period Grantee shall not transfer title to the real property without the express written consent of Grantor. After the Grantee has devoted the real prope�ty to its intended use in accordance with the approved plans and specifications for the development of the real property submitted to the Grantor and the Development Agreement,the Grantor shall provide to Grantee a certificate of compliancelcompletion in recordable form within 30 days from the determination thereof by Grantor. 12