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I <br /> i <br /> i <br /> 2 The requited Net Tax Increment to be generated from the Development Property is <br /> Sixteen Thousand Dollars and 00/100's ($16,000) per year The tax increment is <br /> projected to start with the tax revenues received in 2006 and end in 2011 <br /> 3 This agreement remains an obligation of the Developer and its heirs, executors, <br /> representatives, successors and assigns until the Maturity Date as defined in the <br /> Agreement This Agreement shall run with the Development Property <br /> 4 Capitalized terms not otherwise defined herein have the meanings given them in the <br /> Agreement <br /> CITY OF RAMSEY, MINNESOTA HSH <br /> X- - By <br /> —7 <br /> Its Mayor Its Chief Manager <br /> By <br /> lts ity A mrmstrator <br /> ST INNESOTA ) <br /> ) ss <br /> COUNTY OF ANOKA ) <br /> On this (day of July, 2004, before me, a Notary Public, personally appeared Thomas <br /> G Gamec and James E Norman to me personally known, who, being each by me duly sworn did <br /> say that they are respectively the Mayor and City Administrator of the City of Ramsey, the <br /> Municipal Corporation named in the foregoing instrument, and the seal affixed to said instrument <br /> is the corporate seal of said Municipal Corporation, and the said instrument was signed and <br /> sealed on behalf of said Municipal Corporation by authority of its City Council and said Thomas <br /> G Gamec and James E Norman acknowledge said in ment to be free act and deed of said <br /> Municipal Corporation <br /> 7PN1(01 <br /> M.SULLNAN <br /> + PEISUC-�AIMNES07Am � Jan 31,200 Si me <br /> o Notary Public <br /> STATE OF MINNESOTA ) <br /> )ss <br /> COUNTY OF ANOKA ) <br /> The-foregoing instrument was acknowledged before me this --�7 day of July, 2004, by <br /> Gerald Szykulski, Chief Manager of HSHT LLC, a Minnesota Limited Liability Company on <br /> behalf of the Minnesota Limited Liability Company <br /> rgnature of Notary Public <br /> /i <br /> REGISTERED ABSTRACTERS, INC. <br /> 2115 Thttl Ave. N. 1--0 q—0�0®5Z-- <br /> Aca,Mrd 56303 42 <br />