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7. Assessment Agreement <br />o Agreement outlining financing for a portion of stage 1 improvements outlined in the <br />development agreement. <br />o $1,730,000 total assessment to Hageman Holdings for street, trail, sewer, water and <br />stormwater extension from Armstrong Boulevard to Puma Street* (40% of total project <br />cost). *Sewer/water is 1,000 feet from Puma Street. <br />20 year assessments, <_ 2% interest (40% of total project costs) <br />■ Lot 1, Block 1, 60% of Hageman portion, 2012 begin repay <br />■ Outlot B, 33% of Hageman portion, 2015 begin repay <br />■ Outlot D, 7% of Hageman portion, 2015 begin repay <br />The City of Ramsey paid for 60% of the Bunker Lake Boulevard project (total project <br />costs). <br />$1,730,000 Hageman Holdings (40%) <br />$2,635,000 City of Ramsey (60%) <br />$4,365,000 total <br />WORKING DRAFT (subject to change) <br />