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ZxGra ct of Minutes of Meeting of the <br />,City Council of the Cit,,,, of Elk River. Sherburne Cr&iFt <br />pursuant to due call and notice thereof, a regular meeting of the City Council of the City of F'11k <br />River, Minnesota, was duly held in the City Hall in the City of Y`Ilk River, on March 21, 2016, <br />commencing; at or after 6: 00 P.M. <br />The following members were present: Mayor John J. Dietz, Councilmembers Jerry Olsen, <br />Matt Westgaard, and Barbara Burandt <br />and the followi-ig were 2bsent:Councilmember Jennifer Wagner. <br />:Member Westward introduced the following resolution and moved its adoption: <br />ESOLUTION APPROVING AN ASSIGNMENT AND ASSUMPTION OF TAX <br />ABATEMENT AGREEMENT AND AN AMENDMENT TO TAX <br />ABATEMENT AGREEMENT <br />BE IT RESOLVED By the City ("ouncil (the "City Council") of the City of Elk River, <br />,Sherburne County, Minnesota (the "City") as follows: <br />Section 1. Background, fjndings. <br />(a) The City has entered into a Tax Abatement Agreei nerit dated September 14, 2016 <br />(the "Abatement Agreement"), with E.rivision Company, LLC, a Minnesota limited liability <br />company, which was previously assigned to Invision 3, LLC, a Minnesota limited liability company <br />(the "Assignor"), and in connection therewith received a Mortgage, Security Agreement, Assignment <br />of Lcases and Rents, and F -fixture Financing; Statement dated September 14, 2016 (the "Mortgage") <br />from the Assignor in favor of the City and a Promissory Note dated September 14, 2016 (the <br />"Note"). <br />476680vl JSB EL185-31 <br />