Laserfiche WebLink
less than $11,500,000 until the earlier of (i) December 31, 2031; or (ii) the Termination Date (such <br />minimum market value at the time applicable is herein referred to as the "Assessor's Minimum <br />Market Value"). Nothing in the Assessment Agreement shall limit the discretion of the Assessor <br />to assign a market value to the property in excess of such Assessor's Minimum Market Value. The <br />Assessment Agreement shall remain in effect until the earlier of (i) December 31, 2031; or (ii) the <br />Termination Date. The Assessment Agreement shall be certified by the Assessor for the County <br />as provided in Minnesota Statutes, Section 469.177, Subdivision 8, upon a finding by the Assessor <br />that the Assessor's Minimum Market Value represents a reasonable estimate based upon the plans <br />and specifications for the Project to be constructed on the Development Property and the market <br />value previously assigned to the Development Property. Pursuant to Minnesota Statutes, Section <br />469.177, Subdivision 8, the Assessment Agreement shall be filed for record in the office of the <br />county recorder or registrar of titles of the County, and such filing shall constitute notice to any <br />subsequent encumbrancer or purchaser of the Development Property (or part thereof), whether <br />voluntary or involuntary, and such Assessment Agreement shall be binding and enforceable in its <br />entirety against any such subsequent purchaser or encumbrancer, including the holder of any <br />mortgage recorded against the Development Property. <br />11 <br />13580713v3 <br />