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3. This Agreement to pay Deficiencies remains an obligation of the Developer and its heirs, <br />executors, representatives, successors and assigns until the Maturity Date as defined in <br />the Agreement. This Agreement to pay Deficiencies shall run with the Development <br />Property. <br />4. Capitalized terms not otherwise defined herein have the meanings given them ii3/the <br />Agreement. <br />CITY OF RAMSEY, MINNESOTA ASSET RESOUR <br />ACQUISITION, LL <br />Its: Mayor <br />Attest By: <br />Its: City Administrator <br />STATE OF MINNESOTA <br />) ss. <br />COUNTY OF ANOKA <br />By: <br />Its: Chief Manager <br />On this jeiTh day of February, 2008, before me, a Notary Public, personally appeared Thomas G. <br />Gamec and Kurtis G. Ulrich to me personally known, who, being each by me duly sworn did say that they <br />are respectively the Mayor and City Administrator of the City of Ramsey, the Municipal Corporation <br />named in the foregoing instrument, and the seal affixed to said instrument is the corporate seal of said <br />Municipal Corporation, and the said instrument was signed and sealed on behalf of said Municipal <br />Corporation by authority of its City Council and said Thomas G. Gamec and Kurtis G. Ulrich <br />acknowledge said instrument to be the free act and deed of said MunipaJ Corporation. <br />STATE OF MINNESOTA ) <br />)ss. <br />COUNTY OF ANOKA ) <br />of Notary Public <br />SEAN M. SULLIVAN <br />Notary Public <br />Minnesota <br />My Commission Expires January 31, 2010 <br />The foregoing instrument was acknowledged before me this (761 day of February, 2008, by <br />Christopher J. Mundt, the Chief Manager of Asset Resources And Acquisition, LLC, a Minnesota <br />Limited Liability Company under the laws of the State of, i}uiesot on behalf of the Limited Liability <br />Company. ( j <br />sir€: SEAN M. SULLIVAN <br />4 ? wv <br />4 <br />Notary Public <br />Minnesota <br />m S( nature o fNotry Public <br />;�, o �g <br />My Commission Expires January 31, 2010 <br />43 <br />