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2. The Required increment to be generated from the Development Property is estimated to <br />be Thirty-five thousand six hundred fifty seven Dollars (S35,657) per year. The increment <br />is projected to start with the tax revenues received in 2002 and end in 2012. <br />3. This agreement remains an obligation of the Developer until the Maturity Date as defined <br />in the Agreement. <br />4. The Developer will pay or reimburse the City for all costs and expenses (including <br />reasonable attorneys fees) incurred by the City in connection with the protection, defense <br />or enforcement of this Agreement. <br />CITY OF RAMSEY, MINNESOTA <br />B <br />Its: Mayor <br />By <br />Its: <br />S <br />ministrator <br />SOTA <br />COUNTY OF ANOKA <br />) <br />) ss. <br />&P <br />S <br />Its: Chief <br />anager <br />NT <br />On this 1a1 day of June, 2000, before me, a Notary Public, personally appeared Thomas G. Gamec <br />and James E. Norman to me personally known, who, being each by me duly sworn did say that <br />they are respectively the Mavor and City Administrator of the City of Ramsey, the Municipal <br />Corporation named in the foregoing instrument, and the said instrument was signed on behalf of <br />said Municipal Corporation by authority of its City Council and said Thomas G. Gamec and <br />Janes E. Norman acknowledge said instrument to be the free act and deed of said Municipal <br />Corporation. <br />STATE OF MINNESOTA ) <br />) ss. <br />COUNTY OF ANOKA ) <br />tary Public <br />ulre uA>a GoonalcH <br />Mabry Public <br />kEnbhT9Me�SgnneEndres aem.3S.ICOI <br />On this 51' day of June, 2000, before me, a Notary Public, personally appeared I )1 d r I AL . <br />Pea[ to me personally known, who, being by me duly sworn did say that he is <br />the Chief Manager of H & P DEVELOPMENT L.L.G., the Minnesota Limited Liability <br />Company named in the foregoing instrument, and the said instrument was signed on behalf of <br />said Limited Liability Company. <br />hMMhh . <br />JANET R, THOMAS <br />PCD-11`1 PUBLIC WO E50Th <br />MY �1 VFIIRF.s 14140G5 <br />41 <br />