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J EXHIBIT G AGREEMENT TO PAY DEFICIENCIES THIS AGREEMENT, made and entered as of this 1st day of April, 2005, by and between the City of Ramsey, a Minnesota municipal corporation, having its principal office at 15153, Nowthen Boulevard Northwest, Ramsey, Minnesota 55303 (the "City") and PROFESSIONAL PROPERTIES, LLC, A MINNESOTA LIMITED LIABILITY COMPANY, a Minnesota Limited Liability Company, having its principal office at 3149 162nd Lane NW, Andover, MN 55304 (the "Developer"); WITNESSETH: WHEREAS, the City and the Developer have entered into an agreement entitled Contract for Private Development dated April 1, 2005 (the "Agreement") regarding development of certain real property situated in the City of Ramsey, legally described as: The North 200 feet of the South 233 feet of the West 200 feet of the East 1146 feet of the South Half of the Southeast Quarter of Section 27, Township 32, Range 25, Anoka County Minnesota (the "Development Property"); and WHEREAS, the City has established Tax Increment Financing District No. 2 pursuant to M.S. § 469.174 through § 469.179, and has established Development District No. 1 pursuant to M.S. § 469.124 through § 469.134, which includes the Development Property; and WHEREAS, the Agreement requires the City to construct certain public improvements and requires the Developer to construct certain improvements (the "Minimum Improvements") thereon, all as more fully described in the Agreement; and WHEREAS, in order to finance the public costs related to construction of the Minimum Improvements on the Development Property, the City has agreed to use its tax increment financing funds or to otherwise fund such costs; and WHEREAS, the Agreement requires the execution of this Agreement to Pay Deficiencies; and NOW, THEREFORE, in consideration of the mutual covenants and obligations of the City and the Developer, the parties do hereby agree as follows: Except as qualified by paragraph 3 herein, if for any reason, the Tax Increment generated from the. Development Property payable with the real estate taxes due in any calendar year commencing in 2006 and ending in 2012, is less than the required tax increment (the "Required Increment") as defined in .paragraph 2 herein, the City will notify the Developer of the difference (the "Deficiency"), and will make written demand upon the Developer for the payment thereof. The Developer or its successors and assigns, within '30 days after the City gives written notice, • shall pay to the City the Deficiency. 41