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

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J • 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 advalorem 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 modifying, 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 may not institute or prosecute any challenge to the excess which, if successful, would also result ina reduction of the assessment below the Minimum Market Value. Capitalized terms not otherwise defined herein have the meanings given them in the Agreement. • IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written. CITY OF RAMSEY, MINNESOTA Its: Mayor PROFESSIONAL PROPERTIES, LLC, A MINNESOTA LIMITED LIABILITY COMPANY Its: Chief Manager 34