Agenda - Council - 06/09/2026 - Laserfiche WebLink

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If to Borrower: Roers Ramsey Apartments I LLC 2 Carlson Parkway #400 Plymouth, MN 55447 Attention: Brian Roers If to Lender: First Bank & Trust 1909 Highway 36 Roseville, MN 55113 Attn: Ross Dahlin If to City: City of Ramsey Attn: Community Development Director 7550 Sunwood Dr. NW Ramsey, MN 55303 12. Indemnification. The Borrower hereby indemnifies and holds the City harmless from and against any claims or liabilities arising or purporting to arise from the City's performance of its obligations under this Assignment. 13. Counterparts. This Assignment may be executed in one or more counterparts, each of which shall constitute an original but all of which together shall constitute one and the same agreement. 14. Partial Invalidity. The invalidity of any portion of this Assignment will not and shall not be deemed to affect the validity of any other provision. In the event that any provision of this Assignment is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 15. Entire Agreement: This Assignment shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Assignment shall not be binding upon either party except to the extent incorporated in this Agreement. 16. Modification. Any modification of this Assignment or additional obligation assumed by either party in connection with this Assignment shall be binding only if placed in writing and signed by each party or an authorized representative of each party. 17. Paragraph Headings. The titles to the paragraphs of this Assignment are solely for the convenience of the parties and shall not be used to explain, modify, simplify, or aid in the interpretation of the provisions of this Assignment. 18. Successors and Assigns. This Assignment shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. 19. Governing Law. This Assignment shall be governed by and construed in accordance with the laws of the State of Minnesota. 20. No Release of Borrower. Nothing herein shall be deemed to release the Borrower from any obligations under the Development Agreements and/or the Loan Documents, and no action of the City shall be deemed to have released the Borrower from any such obligations, except to the extent in writing and duly executed by the Authority. 3