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Record ID 4236701 <br />2239308.009 <br />AMENDED AND RESTATED ASSESSMENT AGREEMENT <br />THIS AGREEMENT, made this i day of S by and between the City of Ramsey, a <br />municipal corporation under the laws of the State of Minnesota (the "City") and Hageman Holdings, <br />LLC, a Minnesota limited liability company (the "Owner"), and is based on the following facts. <br />A. CITY and OWNER entered into an Assessment Agreement dated May 20, 2011 and recorded <br />with Anoka County Property Records as Document #2022343.006 (the "2011 Assessment <br />Agreement"). <br />S. OWNER has previously sold Outlot B, ALPHA DEVELOPMENT, and it is no longer subject to <br />the 2011 Assessment Agreement because its assessments have been paid in full. <br />C. OWNER, in order to sell and convey a portion of Lot 1 °Block 1, ALPHA DEVELOPMENT, is <br />subdividing said lot pursuant to the plat of AMSTERDAM. EXTENSION. <br />D. OWNER is retaining title to only Lot 2, Block 1, AMSTERDAM EXTENSION, and has paid to <br />City, on or prior to the date of this Agreement, the portion of the assessments owing under the <br />• 2011 Assessment Agreement that are attributable to the land being sold by OWNER. ' <br />E. CITY has approved a site plan for Delta ModTech on a portion of Lot 1, Block 1 (the "Delta <br />ModTech Project"). <br />NOW, THEREFORE, in consideration of the facts stated above, the mutual promises and agreements set <br />forth below, and other good and valuable consideration, the receipt and sufficiency of which are hereby <br />acknowledged by the CITY and OWNER, the parties hereby agree as follows. <br />1. Owner has paid $399,116.97 attributed to Lot 1, Block 1, Amsterdam Extension as calculated by <br />linear foot of frontage. <br />2. Section 3 of the 2011 Assessment Agreement is hereby amended and restated to read as follow. <br />Parcel Description <br />Linear Feet <br />Percentage <br />Unpaid Balance of <br />Assessment <br />Lot 2, Block I, <br />AMSTERDAM <br />EXTENSION <br />1348 <br />43° a <br />- $529,062.03 <br />OUTLOT D, ALPHA <br />DEVELOPMENT <br />, NA <br />NA <br />$108,287.57 <br />3. No other changes. Except as herein modified, all other terms and conditions of the 2011 <br />Assessment Agreement shall remain in force and effect. <br />55583 <br />Commercial Partners Title, Li <br />200 South Sixth Sheet in, .- <br />Suite 1300 is. <br />Minneapolis, MN 55402 ciacid <br />