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(reserved for recording) <br />ASSESSMENT AGREEMENT <br />THIS ASSESSMENT AGREEMENT (this "Agreement") is made this 25 day of k/ , 2017, <br />by and between between the City of Ramsey, Minnesota, a Minnesota municipal corporation <br />("City"), Riverstone Development, LLC., a Minnesota limited liability company ("Riverstone <br />Development"), and Hageman Holdings, LLC, a Minnesota limited liability company <br />("Hageman Holdings") (Riverstone Development and Hageman Holdings are collectively <br />referred to as "Owners"). <br />Recitals <br />A. Owners are the owners of fee title to the Property, as defined in Exhibit A, attached <br />hereto. <br />B. The Owners desire to have certain public improvements constructed to serve the Property <br />as described in Exhibit B (the "Improvement Project"). Concept level plans and specifications for the <br />Improvement Project are completed. <br />C. The Owners desire to have the City construct the Improvement Project without notice of <br />hearing or hearing on the special assessments levied to finance the Improvement Project, and to levy up to <br />40% of the cost of the Improvement Project against the Property. <br />D. The City is willing to construct the Improvement Project without certain notices or <br />hearings, provided that assurances and covenants stated below are made by the Owners to ensure that the <br />City will have valid and collectable special assessments as they relate to the Property. <br />E. Were it not for the assurances and covenants provided in this Agreement, the City would <br />not construct the Improvement Project and is doing so solely at the behest, and for the benefit, of the <br />Owners. <br />Page 1 of 12 <br />