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[Space reserved for recording data] <br />ASSESSMENT AGREEMENT <br />THIS ASSESSMENT AGREEMENT (this "Agreement") is made this day of <br />2026, by and between the City of Ramsey, a Minnesota municipal corporation ("City"), and PSD <br />LLC, a Minnesota limited liability company ("PSD") (PSD shall be referred to as "Owner"). <br />RECITALS <br />WHEREAS, the Owner is the fee title owner of certain real property with a street address <br />of 14800 Ferret Street NW, Ramsey, Minnesota, legally described as follows: <br />[Lot 1, Block 1, Kwik Trip 1782] <br />PID 29-32-25-11-0016 (the "Subject Property"); and <br />WHEREAS, the Owner desires to have certain public improvements constructed to serve <br />the Subject Property as described in Exhibit A (the "Improvement Project"). Construction ready <br />plans and specifications for the Improvement Project are completed; and <br />WHEREAS, the Owner desires to have the City construct the Improvement Project <br />without notice of hearing or hearing on the special assessments levied to finance the Improvement <br />Project, and to levy up to $32,114.59 against the Subject Property as described in Exhibit B (the <br />"Estimated Assessment for PSD"); and <br />WHEREAS, the City is willing to construct the Improvement Project without certain <br />notices or hearings, provided that assurances and covenants hereinafter stated are made by the <br />Owner to ensure that the City will have valid and collectable special assessments as they relate to <br />the Subject Property; and <br />WHEREAS, were it not for the assurances and covenants hereinafter provided, the City <br />would not construct the Improvement Project without such notices and hearings and is doing so <br />solely at the behest, and for the benefit of, the Owner. <br />