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EXHIBIT D <br />Form of Assessment Agreement <br />THIS AGREEMENT, dated as of this day of , 2023 (the "Agreement"), is <br />by and among the City of Ramsey, Minnesota (the "City") and Ramsey Properties, LLC, a <br />Minnesota limited liability company (the "Developer"). <br />WITNESSETH <br />WHEREAS, the City and the Developer have entered into a Tax Increment Financing (TIF) <br />Agreement dated as of , 2023 (the "TIF Agreement") regarding certain real property <br />located in the City (the "Development Property") which property is legally described on Exhibit <br />A attached hereto and made a part hereof. <br />WHEREAS, it is contemplated that pursuant to the TIF Agreement, the Developer will <br />construct a Project on the Development Property as described in the Development Agreement. <br />WHEREAS, the City and the Developer desire to establish a minimum market value for <br />the Development Property and the improvements constructed or to be constructed thereon, <br />pursuant to Minnesota Statutes, Section 469.177, Subdivision 8. <br />WHEREAS, the Developer has acquired the Development Property. <br />WHEREAS, the Developer has submitted the plans and specifications for the <br />improvements to be constructed pursuant to the Development Agreement to the Anoka County <br />Assessor (the "Assessor"). <br />NOW, THEREFORE, the parties to this Agreement, in consideration of the promises, <br />covenants and agreements made by each to the other, do hereby agree as follows: <br />1. As of January 2, 2025 through and thereafter until December 31, 2040, the <br />minimum market value which shall be assessed for the Project (as defined in the TIF Agreement) <br />shall be not less than $7,141,000. <br />The minimum market value herein established for the Project shall be of no further force <br />and effect and this Agreement shall terminate on December 31, 2040. <br />3. This Agreement shall be recorded by the City with the County Recorder of Anoka <br />County, Minnesota. The Developer shall pay all costs of recording. <br />4. Neither the preamble nor provisions of this Agreement are intended to, or shall they <br />be construed as, modifying the terms of the TIF Agreement between the City and the Developer. <br />D-1 <br />76644791v2 <br />