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<br />said property for its corporate uses and purposes. Red <br />River Valley Fair i\ssociation shall permit said p!:'emises <br />to be used outside of Fair time for any agricultural, <br />farming or livestock exhibition or exposition, and said <br />premises may be used for other public, county or civic <br />purposes agreed to by Cass County, North Dakota, and the <br />Red River Valley Fair Association. <br />It is further understood and agreed that if, with the <br />joint consent of the parties, said real estate or any <br />part or portion thereof is sold or conveyed, such <br />proceeds shall be deposited in the Cass County Fair Fund, <br />but shall be made available to Red River Valley Fair <br />Association for the corporate purposes of said Red River <br />Valley Fair Association. <br />It is further understood and agreed that in the event <br />that said Red River Valley Fair Association shall fully <br />and permanently terminate its corporate activities, and <br />if its corporate existence be dissolved or terminated by <br />judicial decree or by operation of law, said real estate <br />or the unexpended portion of the proceeds of the sale <br />thereof shall become the sole and absolute property of <br />Cass County, North Dakota, a municipal corporation. <br /> <br />A copy of the proposed Quit Claim Deed to be executed by the <br /> <br />F..A~IR is attached hereto, marked Exhibit F, and incorporated by <br /> <br />reference. <br /> <br />4. On January 1, 2005, CASS COUNTY, as grantor, shall <br /> <br />convey, by Warranty Deed, to FAIR, as grantee, all of the following <br /> <br />real property lying and being in the County of Cass, and State of <br /> <br />North Dakota, and described as follows, to-wit: <br /> <br />A tract of land situated in the Northwest Quarter (NW~) <br />of Section 7 in Township 139 North, Range 49 West of the <br />Fifth Principal Meridian, Cass County, North Dakota, and <br />more fully described as follows: Corrunencing at the <br />northwest section corner of said section 7, thence <br />southerly on the west section line of said section 7 a <br />distance of 1241 feet to the point of beginning; thence <br />easterly on a 90' deflection to the left a distance of <br />1100 feet; thence southerly on a 90' deflection to the <br />right a distance of 885 feet; thence westerly on a9 O' <br />deflection to the right a distance of 1100 feet to the <br />west section line of said section 7: thence northerly on <br />the west section line of said section 7 a distance of 885 <br />feet to the point of beginning. Said tract contains <br /> <br />4 <br />