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IN WITNESS WHEREOF, the parties hereto have executed this Minnesota Housing <br />Finance Agency Master Disbursement Agreement as of the date first written above. <br />BORROWER: <br />CB RAMSEY HOUSING LIMITED PARTNERSHIP <br />a Minnesota limited partnership <br />By: CB Ramsey Housing LLC <br />a Minnesota limited liability company <br />General Partner <br />By: <br />Ellen Higgins, Chief Manager <br />Sunwood Village, Ramsey D7721 <br />Master Disbursement Agreement 5 8-5-2015 <br />(Rev. 3/10/15) <br />