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Exhibit D <br />ASSESSMENT AGREEMENT AND <br />CERTIFICATION OF COUNTY ASSESSOR <br />THIS AGREEMENT, made and entered into this 26th day of June. 2007, by and <br />between the Cite of Ramsey. a Minnesota municipal corporation, having its principal office at <br />7550 Sunwood Drive NW, Ramsey, Minnesota 55303 (the "City"), and O'CULLINAN <br />PROPERTIES, LLC, A MINNESOTA LIMITED LIABILITY COMPANY, having its <br />principal office at 7005 Odean Ave NE, Otsego, MN 55330 (the "Developer"). <br />WITNESSETH: <br />WHEREAS, the City_ is administering City Development District No. 1 created pursuant <br />to M.S. ti 469.124 through § 469.134; and <br />WHEREAS, the City is administering Tax Increment Financing District No. 8 created <br />pursuant to M.S. § 469.174 through § 469.179; and <br />WHEREAS, the parties have entered into a Contract for Private Development (the <br />`Agreement"). dated June 26. 2007, regarding the development of certain real property located in <br />Development District No. 1 and Tax Increment Financing District No. 8 within the City and <br />legally described as: <br />LOTS 1 AND 1 A. BLOCK 1, EBONY ADDITION, Anoka County. Minnesota <br />(the "Development Property"); and <br />WHEREAS, it is contemplated that pursuant to the Agreement, the Developer will <br />construct the Minimum Improvements described in the Agreement and shall complete them prior <br />to December 31, 2006; and <br />WHEREAS. the City and the Developer desire to establish minimum market values for <br />the Development Property and the Minimum Improvements to be constructed thereon, pursuant <br />to M.S. § 469.177, Subdivision 8; and <br />WHEREAS, the county assessor has reviewed the plans and specifications for the <br />Minimum Improvements which will he constructed. <br />NOW THEREFORE, the parties do hereby agree as follows: <br />1. On January 2. 2008. the Minimum Market Value of the .Minimum Improvements <br />and the Development Property (the "Combined Property") shall be One Million <br />Nine Hundred Thousand Dollars ($1,900,000). The Minimum Market Value of <br />the Combined Property will remain in effect for the temp of this Agreement as <br />described in paragraph 4 hereof. <br />33 <br />