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IN WITNESS WHEREOF, the City and the Authority have caused this Agreement to be <br />duly executed on their behalf as of the day and year first above written. <br />Attest: <br />Administrator <br />Attest: <br />Executive Secretary <br />4591075v1 <br />CITY OF RAMSEY, MINNESOTA <br />By <br />Mayor <br />HOUSING AND REDEVELOPMENT <br />AUTHORITY IN AND FOR THE CITY OF <br />RAMSEY, MINNESOTA <br />By <br />Chair <br />PLEDGE AGREEMENT relating to $7,420,000 General Obligation Tax Increment Bonds, <br />Series 2012B. <br />2 <br />