Laserfiche WebLink
r <br />Payments will be based upon the normal real estate tax payment schedule of biannual <br />payments. <br />2. The required Net Tax Increment to be generated from the Development Property is <br />Twenty Thousand and 00/100's Dollars ($20;000.00) per .year. The tax increment is <br />projected to start with the tax revenues received in 2006 and end in 2012. <br />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 />Capitalized terms not otherwise defined herein have the meanings given them in the <br />- Agreement. <br />CITY OF RAMSEY, MI NESOTA <br />By: <br />Its: > Administra or. , <br />MINNESOTA <br />COUN .' OF ANOKA <br />) <br />ss. <br />PRO SIONAL P OP RTIES, LLC, <br />By: <br />Its: of Manager <br />. r . s ` SEAN M. SULLIVAN <br />�f. Notary Public <br />Minnesota <br />4 �t M Comm ®son Expires January 31, 2010 <br />On this . troday of April, 2005, before me, a Notary Public, personally appeared <br />Thomas G. Gamec and James E. Norman to me personally known, who, being each by me duly <br />sworn did say that they are respectively the Mayor and City Administrator of the City of <br />Ramsey, the Municipal Corporation named in the foregoing instrument, and the seal affixed to <br />said instrument is the corporate seal of said Municipal Corporation, and the said instrument was <br />. signed and sealed on behalf of said Municipal Corporation by 'ty of its City Council and <br />said Thomas G. Gamed and James E. Norman aeknow s d ins ent to be the free act and <br />deed of said Municipal Corporation. <br />b1,Gt44.-- <br />STATE OF MINNESOTA ) <br />)s <br />COUNTY OF ANOKA ) <br />gnatuijf Notary Public <br />The foregoing 'instrument was acknowledged before me this 1st day of April, 2005, by <br />Derek P. Bertolas, the Chief Manager of Professional Properties, LLC, a Minnesota Limited. <br />Liability Company under the laws of the State of M ' sota o , alf of the Limited Liability <br />Company. <br />SEAN M. SULLIVAN <br />4 s Notary Public <br />Minnesota. <br />4 • ,.- My Commission Expires January.31, 2010 <br />tary Public <br />42 <br />