Agenda - Council - 01/14/2014 - Laserfiche WebLink

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Nothing in this Agreement shall limit the discretion of the county assessor or any other public official or body having the duty to determine the Market Value of the Combined Property for ad valorem tax purposes to assign to the Combined Property a Market Value in excess of the Minimum Market Value specified in this Agreement. 3. Neither the preambles nor the provisions of this agreement are intended to modify nor shall they be construed as modif inQ. the terms of the Agreement. 4. This agreement shall remain in effect and inure to the benefit and be binding upon the successors and assigns of the parties through the Maturity Date as described in the Agreement. 5. As provided in M.S. § 469.177, Subdivision 8, nothing contained herein shall be deemed to limit the right or opportunity of the Developer to challenge, through any legal means, that part of any valuation on the market value of the Combined Property, which is in excess of the stipulated Minimum Market Value contained in this agreement, provided, however, that the Developer will not institute or prosecute any challenge to the excess which, if successful, would also result in a reduction of the assessment below the Minimum Market Value. 6. Capitalized terms not otherwise defined herein have the meanings given them in the Agreement. CITY OF RAMSEY, MINNESOTA O'CULLINAN PROPERTIES, LLC Bv: Its: Mayor Admi istrator Its: Chief Manager 34