EXHIBIT 10.76


                                    AGREEMENT


         THIS AGREEMENT ("Agreement") is made as of this first day of March,
1998, by and among Patrick C. Wells, a Minnesota resident ("Wells"), Peter
Pflaum, a Minnesota resident ("Pflaum"), and Lundgren Bros. Construction, Inc.,
a Minnesota corporation ("Lundgren").


                                    RECITALS

A. On January 2, 1997, Wells resigned as an officer, director and full-time
employee of Lundgren. Since January 2, 1997, Wells has continued to serve
Lundgren as a part-time independent consultant.

B. Wells owns no voting common shares of Lundgren; Wells owns 1,845 non-voting
common shares of Lundgren (the "Shares"). The Shares owned by Wells represent
17.37% of all issued and outstanding shares of Lundgren, including both voting
and non-voting common shares.

C. Wells and Lundgren wish to document the severance of Wells' relationship with
Lundgren.

D. Wells desires to sell the Shares to Pflaum and to Lundgren, and will grant to
Pflaum and to Lundgren an option to purchase the Shares on the terms and
conditions herein contained. Pflaum and Lundgren are referred to collectively
herein as the "Optionees."

E. The Optionees desire to purchase the Shares, and are prepared to purchase the
Shares on the terms and conditions herein, as a condition to maintaining an
option to purchase said Shares.


                                    AGREEMENT

                   1. TERMINATION OF CONSULTING RELATIONSHIP.

1.1      Wells and Lundgren agree that:

         a. Wells resigned as an officer, director and employee on January 2,
1997;

         b. on January 2, 1997, Wells commenced working as a part-time
independent consultant to Lundgren;

         c. on September 25, 1997, Wells terminated his consulting relationship
with Lundgren;

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         d. Lundgren has paid Wells in full for his services as an independent
consultant for the period January 2, 1997 through September 25, 1997; and

         e. Wells is responsible for reporting and paying state and federal
withholding taxes and charges on Wells' consulting income for such period.

         Wells acknowledges that Lundgren has no further obligations to Wells
resulting from Wells' resignation as an officer and employee of Lundgren, and
Wells' services as an independent consultant from January 2, 1997 to and through
September 25, 1997.

1.2 Lundgren agrees to sell to Wells the company truck that Wells has used to
date for business purposes, for the sum of $6,900, on March 2, 1998. Lundgren is
electing to apply the $6,900 purchase price of the truck to the option payment
of $16,900 due under paragraph 2.1.e. hereunder on said date.

1.3 As a shareholder of Lundgren, Wells was the beneficiary of certain life
insurance policies, the disposition of which the parties hereto agree as
follows:

         a. Wells, together with the other shareholders of Lundgren, is a
participant in and beneficiary of that certain Amended and Restated Lundgren
Bros. Construction, Inc. Stock Purchase Agreement dated February 1, 1993, as
amended ("Stock Purchase Agreement"). Lundgren has purchased and maintains life
insurance on each of the shareholders of Lundgren pursuant to the Stock Purchase
Agreement to fund the repurchase by Lundgren pursuant to the Stock Purchase
Agreement of the shares of such shareholder in the event of that shareholder's
death. Lundgren is the owner and beneficiary of all such insurance policies
purchased by Lundgren to fund Lundgren's obligations under the Stock Purchase
Agreement. Lundgren currently pays all of the premiums on the insurance detailed
on Exhibit A to this Agreement on the life of Wells ("Wells Insurance").
Lundgren agrees, so long as Lundgren pays the premiums on life insurance for the
other shareholders of Lundgren pursuant to the Stock Purchase Agreement,
Lundgren will pay the premiums on the Wells Insurance, and continue to be the
owner and beneficiary of the Wells Insurance. In the event of Wells' death,
Lundgren will use the Wells insurance to purchase, pursuant to the Stock
Purchase Agreement, all of the Shares not previously sold to either Lundgren or
Pflaum pursuant to the option contained herein, at the price, and on the terms
provided in the Stock Purchase Agreement.

         b. Lundgren maintains so-called "split dollar plan" life insurance on
Wells and on the other shareholders of Lundgren. The Lundgren split dollar
insurance insuring Wells is detailed on Exhibit B to this Agreement ("Wells
Split Dollar Insurance"). The premiums on the Wells Split Dollar Insurance are
divided between Lundgren and Wells, with Wells paying a portion of the annual
premium equal to the then economic benefit cost. The Wells Split Dollar
Insurance is owned by Wells, and is subject to a collateral assignment of the
portion of the cash value and death benefit thereof equal to the lesser of the
total premiums paid or the net cash surrender value of the policies. The cash
value of the Wells Split Dollar Insurance (and the Wells Insurance) is owned by
Lundgren and is used by Lundgren as collateral for Lundgren's working capital
credit facility. At any time on or after the date hereof, Lundgren may elect to
(i)

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convert the Wells Split Dollar Insurance to either term or whole-life insurance
on the life of Wells, wholly owned by Lundgren, or (ii) terminate the Wells
Split Dollar Insurance.

         c. Lundgren pays the premiums on, and holds title to, disability
insurance on Wells, as detailed on Exhibit C hereto ("Wells Disability
Insurance"). The Wells Disability Insurance is maintained to fund the purchase
of the Shares in the event of Wells' permanent disability as defined in the
Stock Purchase Agreement, while Wells is a full-time employee of Lundgren.
Inasmuch as Wells has terminated his employment with Lundgren, the parties
hereto agree that the Stock Purchase Agreement will be amended in the form
attached hereto as Exhibit D to eliminate Wells from the disability provisions
of the Stock Purchase Agreement. Lundgren will continue to pay the premiums on
the Wells Disability Insurance to and through the first anniversary of this
Agreement ("Anniversary Date"). At any time on or before the Anniversary Date,
Wells may elect, by so informing Lundgren in writing, to assume the Disability
Insurance, by agreeing to pay all future premiums due thereon. In the event
Wells does not elect to assume the Wells Disability Insurance, any premiums paid
by Lundgren thereunder shall remain the property of Lundgren.

1.4 Wells, as a shareholder of Lundgren, will remain personally liable on
guarantees made by him to date on Lundgren's indebtedness to financial
institutions. Lundgren will exclude Wells from any such future guarantees. From
and after the date hereof, Wells will not participate in any partnerships or
companies (i) consisting otherwise exclusively of Lundgren shareholders, and
(ii) doing business with Lundgren.


                          2. OPTION TO PURCHASE SHARES

2.1 Wells hereby grants first to Pflaum, and then to Lundgren, the right and
option to purchase the Shares for $1,284,685, or $696.30 per share, on the
following terms and conditions:

         a. The term of the option hereby granted shall run from the date hereof
to and through September 1, 2005 (the "Term"), subject to the terms and
conditions set forth below.

         b. The initial price per share for each Share purchased pursuant to
this Agreement is $696.30 per share. The purchase price per Share shall increase
at the rate of 6% per annum during the Term, computed as of each anniversary
date of this Agreement. In the event any Shares are purchased between
anniversary dates of this Agreement, the price per share shall be adjusted PRO
RATA to reflect the portion of the year lapsed since the preceding anniversary
date.

         c. All payments made pursuant to this Agreement for the purchase of
Shares pursuant to this Section 2 of the Agreement shall be applied to the
purchase of Shares, and Wells shall assign and transfer to Pflaum or to
Lundgren, as the case may be, Shares equivalent to the payment then made, on the
date such payment is made.

         d. From September 26, 1997 to and through December 31 1997, Optionees
made bi-weekly payments of $3,269.23, in total payments of $22,884.61, as option
payments. From

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January 2, 1998 to and through February 27, 1998, Optionees have made bi-weekly
payments of $3,269.23, in total payments of $16,346.15, as option payments. On
February 27, 1998, Wells had received total payments of $39,230.76 as option
payments made pursuant to this paragraph.

         e. In order to maintain this option, Optionees must make the following
additional option payments to Wells in 1998: on March 12, 1998, $16,900; on
April 1, 1998, $10,000; on each of May 1, 1998, June 1, 1998 and July 1, 1998,
$20,000; and on August 3, 1998, $23,653.85. On payment of the final payment
provided by the preceding sentence, Wells will have received an additional
$110,553.85 as option payments made pursuant to this paragraph, and received a
total of $149,784.61 under paragraphs 2.1. d and e of this Agreement as option
payments.

         f. In the event, but only in the event, that all of the payments
described in paragraph 2.1.e have been made by Optionees to Wells on or before
the scheduled dates for the same, then on August 3, 1998 Wells shall assign and
transfer to either Pflaum or Lundgren, as the case may be, 215.12 Shares. In the
event the Optionees fail to make any of the option payments required under
paragraph 2.1.e no shares will be sold or conveyed by Wells hereunder, and the
options hereby granted by Wells to the Optionees shall immediately lapse on the
date a scheduled payment is not made hereunder.

         g. From and after September 1, 1998, and provided the Optionees have
made the option payments provided under paragraph 2.1.e, Optionees shall have
the right and option, but not the obligation, to make additional payments to
Wells and thereby to purchase additional Shares. Neither Pflaum nor Lundgren
shall be obligated to make any additional payments, and/or to purchase any
additional Shares after September 1, 1998. However, in the event the Optionees
fail to purchase Shares on the following schedule, the option hereby granted by
Wells to the Optionees shall immediately lapse as of the date a scheduled
payment is not made hereunder, all without the requirement of any further
documentation. The Optionees may at any time purchase more Shares than the
minimum purchases provided hereunder. In the event the Optionees elect to
purchase more than the minimum Shares required to keep this option in full force
and effect, the additional payments and purchases so made will not reduce the
number of Shares the Optionees must purchase on the next payment dates hereunder
in order to keep this option in full force and effect.

         h. In order to maintain this option, Optionees must make the following
additional purchases of Shares on the following schedule:

               (1)  On or before September 1, 1998, $67,115.39 to purchase 90.93
                    Shares;
               (2)  on or before September 1, 1999, $241,712.75 to purchase
                    308.95 Shares;
               (3)  on or before September 1, 2000, $100,000 to purchase 120.58
                    Shares;
               (4)  on or before September 1, 2001, $100,000 to purchase 113.76
                    Shares;
               (5)  on or before September 1, 2002, $354,700.98 to purchase
                    380.66 Shares;
               (6)  on or before September 1, 2003, $100,000 to purchase 101.24
                    Shares;
               (7)  on or before September 1, 2004, $100,000 to purchase 95.51
                    Shares; and

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               (8)  on or before September 1, 2005, $464,164.79 (the
                    then-balance of the purchase price) to purchase 418.24
                    Shares (the then-balance of the Shares).

         i. In order to exercise his option in each year that the above option
runs, Pflaum shall give written notice of his intent to exercise his option that
year to Lundgren and to the other shareholders of Lundgren (except Wells) on or
before August 1 of that year. In the event Pflaum fails to give such written
notice, Pflaum shall have waived Pflaum's right to exercise any portion of the
option granted hereunder for that respective year. Pflaum's rights to exercise
the option in any subsequent year hereunder shall not be affected by such
failure to give notice.

2.2 Wells hereby represents and warrants to the Optionees that he has good and
marketable title to the Shares, and that the same are free of any liens,
charges, security interests or other encumbrances of any kind or nature. Wells
hereby covenants and represents to the Optionees that he will maintain good and
marketable title in the Shares, and that the same will remain free and clear of
any liens, charges, security interests or other encumbrances of any kind or
nature, during the Term. Wells further represents and warrants that, during the
Term, he will not sell, assign or transfer any of the Shares. Provided
nevertheless, and any language in this paragraph 2.2 to the contrary
notwithstanding, in the event the option granted to the Optionees hereunder
lapses as a result of the Optionees' failure to purchase Shares in accordance
with the schedule set forth in subparagraph 2.1(g) above, Wells shall be free to
sell, assign, transfer or otherwise encumber any of the Shares not then sold
hereunder.

2.3 In the event, at any time from the date hereof to and through the third
anniversary date of the date hereof, a third party acquires from the then
shareholders of Lundgren all of the common shares of Lundgren not covered by
this option ("Other Shares"), Wells agrees to sell, and Lundgren and Pflaum
agree to cause such third party to purchase, the then-remaining Shares at the
price to be paid for such Other Shares, and on the terms and conditions for
payment of the Other Shares.

2.4 In the event, at any time from the date hereof to and through the second
anniversary date of the date hereof, one or more of the existing shareholders of
Lundgren enters into an agreement to sell to the Optionees all of his then
shares of Lundgren, for a price, and/or on terms and conditions which are more
favorable than those provided Wells under this Agreement, the parties shall
amend this Agreement as to the remaining number of Shares subject to this
option, to provide Wells the benefit of the more favorable price and/or terms
and conditions so provided to the shareholder then selling his shares. Provided,
nevertheless, and any language in this paragraph 2.4 to the contrary
notwithstanding, there shall be no adjustment to the price per Share paid to
Wells hereunder in the event one or more of the existing shareholders of
Lundgren enters into an agreement to sell to the Optionees all of his then
shares of Lundgren for a price that does not exceed the then book value per
share, as computed by the independent public accountants then serving Lundgren.

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                          3. AGREEMENTS NOT TO COMPETE

3.1      a. As used in this Section 3.1, "Proprietary Information" means all
information with respect to the conduct or details of the single family home
building business and operations of Lundgren, including without limitation
methods of operation, customers and customer lists, details of contracts with
customers, consultants, suppliers or employees, products, proposed products,
former products, proposed prices and pricing policies, costs, plans, designs,
drawings, blueprints, layouts, specifications, models, and any and all
memoranda, whether written or electronic, trade secrets, know-how, software and
marketing methods of Lundgren.

         b. Wells acknowledges and agrees that all of the Proprietary
Information is the exclusive property of Lundgren. Wells hereby covenants and
agrees that for a term ("Term") equal to the period of time the option under
Section 2 hereof is in effect, Wells shall keep completely confidential and
shall not directly or indirectly disclose, communicate or divulge to any person
or to any business entity or organization, or use for the benefit of any such
person or business entity or organization, any of the Proprietary Information.
The restriction contained in the preceding sentence shall not apply to any
Proprietary Information that (i) is a matter of public knowledge on the date
hereof, (ii) becomes a matter of public knowledge after the date hereof solely
from a source other than Wells, or (iii) is required by law or by the order of
any court or government agency, or in any litigation or similar proceeding to be
disclosed.

3.2 During the Term, Wells shall not invest in, own, manage or control, or share
in the ownership, management or control of, any business or enterprise that
either engages or proposes to engage in a business which is in competition with
the single family home building business of Lundgren within a one hundred fifty
(150) mile radius of Lundgren's corporate offices in Wayzata, Minnesota.

3.3 During the Term, Wells shall not directly or indirectly solicit, divert or
accept business from or otherwise take away or interfere with, any customer of
or supplier to Lundgren, or any distributor or seller of products of Lundgren.


                              4. DISPUTE RESOLUTION

4.1 In the event any dispute arises out of or relates to this Agreement, and
cannot be resolved by mutual agreement of the parties hereto, all matters so
disputed shall be submitted to a single arbitrator (herein, the "Arbitrator")
selected by the presiding officer of the American Arbitration Association in
Minneapolis, Minnesota, for binding arbitration in accordance, where applicable,
with this Agreement, and otherwise in accordance with the then rules of the
American Arbitration Association. Such arbitration shall take place in
Minneapolis, Minnesota.

4.2 The Arbitrator shall be requested by the parties to make his or its
determination as soon as possible after the matter or matters in dispute are
submitted to the same, and such determination shall be final and binding upon
the parties hereto. All fees and disbursements of the Arbitrator shall be paid
in accordance with the decision of the Arbitrator. Any payment

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required to be made as a consequence of the decision of the Arbitrator shall be
made by the party hereto then obligated to pay the same, not later than 30 days
after the receipt of such decision.

4.3 The Arbitrator shall have the authority to award any remedy or relief that a
court of the State of Minnesota could order or grant, including, without
limitation, equitable remedies, rescission, or specific performance of any
obligation created under this Agreement, the issuance of an injunction, or the
imposition of sanctions for abuse or frustration of the arbitration process,
provided, however, that punitive or exemplary damages shall not be awarded by
the Arbitrator or by any court.

                                5. MISCELLANEOUS

5.1 Disclaimer. Wells hereby acknowledges that Wells has had the opportunity to
obtain, and has obtained, advice from his own professional tax advisors
regarding the tax consequences of the transactions described in this Agreement;
and that Wells has not received from Lundgren, Pflaum, or any other
representatives of Lundgren, and is not relying upon, any advice regarding the
tax consequences of such transactions.

5.2 Survival. All representations and warranties of Wells contained in this
Agreement shall continue to and through the sale and transfer of the last of the
Shares to Optionees hereunder, or the termination of the Term, whichever first
occurs.

5.3 Notices. All notices and other communications hereunder shall be in writing,
and may be delivered personally (including by courier) or by first class
registered or certified mail, postage pre-paid, addressed to the parties at the
following addresses, or to such other addresses as may be furnished in writing
by one party to the other:

         a.       If to Pflaum and to Lundgren:

                  Lundgren Bros. Construction, Inc.
                  935 E. Wayzata Boulevard
                  Wayzata, MN 55391

         with a copy to:

                  Leonard, Street and Deinard
                  Attn:  Stephen R. Pflaum, Esquire
                  150 South Fifth Street
                  Suite 2300
                  Minneapolis, MN 55402

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         b.       If to Wells:

                  Patrick C. Wells
                  11217 Old Rockford Road
                  Plymouth, MN 55441

         with a copy to:

                  ---------------------------------

                  ---------------------------------

                  ---------------------------------

                  ---------------------------------

         Service of any such notice or other communication so made by mail shall
be deemed to be complete on the day of actual delivery thereof as shown by
addressee's registry or certification receipt.

5.4 Governing Law. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of Minnesota, without regard to such
jurisdiction's conflicts of law principles.

5.5 Modification; Waiver. This Agreement shall not be altered or otherwise
amended except by an instrument in writing signed by all of the parties hereto.
Any party hereto may waive any covenant, obligation or agreement of any other
party, provided that mere inaction or failure to exercise any right, remedy or
option under this Agreement or delaying the exercise of the same, will not
operate as, nor be construed as, a waiver, and no waiver will be effective
unless set forth in writing, and only to the extent specifically stated therein.

5.6 Entire Agreement. This Agreement and the Exhibits hereto constitute the
entire agreement of the parties hereto with respect to the matters contemplated
hereby, and supersede all previous written or oral negotiations, commitments,
representations and agreements.

5.7 Assignment. This Agreement may not be assigned by any party hereto without
the prior written consent of the other parties.

5.8 Severability. The provisions of this Agreement are severable, and in the
event any one or more provisions are deemed illegal or unenforceable, the
remaining provisions shall remain in full force and effect.

5.9 Third-Party Beneficiaries. Notwithstanding paragraph 4.6 regarding
non-assignability of this Agreement, this Agreement shall inure to the benefit
of, and be binding upon, the heirs of Wells and the successors of the other
parties hereto.

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5.10 Execution in Counterpart. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which shall
constitute one and the same instrument.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year first above written.

                                       LUNDGREN BROS. CONSTRUCTION, INC.


                                       By
                                         ---------------------------------------
                                         Peter Pflaum, President


                                       -----------------------------------------
                                       Peter Pflaum


                                       -----------------------------------------
                                       Patrick C. Wells