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<br /> <br />EXHIBIT 0 <br /> <br />JACKSON BLOCK ASSESSMENT AGREEMENT <br /> <br />THIS AGREEMENT. dated as of this davof <br />the Citv of Elk River. Minnesota (the "Citv") and MetroPlains <br />Minnesota limited liabilitv comnanv (the "Develoner"). <br /> <br />. 2005. is between <br />Develonment. LLC. a <br /> <br />WITNESSETH <br /> <br />WHEREAS. on or before the date hereof the Citv and Develoner have entered into <br />an Amended and Restated Develonment Af!reement dated as of . 2005 (the <br />"Af!reement") ref!ardinf! certain real nronertv located in the Citv (the "Jackson Block <br />Pronertv"). <br /> <br />WHEREAS. it is contemnlated that nursuant to said Af!reement. the Develoner will <br />undertake the demolition and clearance of the existinf! structures located on the .Jackson <br />Block Pronertv and the construction of annroximately 13,000 souare feet of retail snace. <br />tOf!ether with related narkinf! facilities and annroximatelv 32 units of rental housinf!. <br />tOf!ether with related narkinf! facilities. to be constructed on the Jackson Block Pronertv <br />(the "Proiect") in accordance with nlans and snecifications annroved bv the Citv. <br /> <br />WHEREAS. the Citv and Develoner desire to establish a minimum market value for <br />the Jackson Block Pronertv and the imnrovements constructed or to be constructed <br />thereon. nursuant to Minnesota Statutes. Section 469.177. <br /> <br />WHEREAS. the Develoner has acouired the Jackson Block Pronertv consistinf! of <br />land. the lef!al descrintion of which is attached hereto as Exhibit A. <br /> <br />WHEREAS. the Citv and the Assessor have reviewed plans and snecifications for <br />the Proiect. <br /> <br />NOW. THEREFORE. the narties to this Af!reement. in consideration of the <br />nromises. covenants and af!reements made bv each to the other. do herebv af!ree as follows: <br /> <br />L As of Januarv 2. 200 . the minimum market value. which shall be assessed <br />for the Proiect. shall not be less than $ <br /> <br />b This Af!reement shall terminate on the earlier of (i) December 31. 2007. (m <br />the date on which anv Refundinf! Bonds (as defined in the Af!reement) are issued. <br /> <br />3... This Af!reement shall be recorded bv the Citv with the Countv Recorder of <br />Sherburne Countv. Minnesota. The Develoner shall nav all costs of recordinf!. <br /> <br />.4... Neither the nreambles nor nrovisions of this Af!reement are intended to. or <br />shall thev be construed as. modifvinf! the terms of the Af!reement between the Citv and the <br />Develoner. <br /> <br />I 824344vRED V2 to VI; 10/12/05 <br /> <br />Q-l <br />