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• <br />CERTIFICATE REGARDING DEFAULTS <br />1. Recitals. <br />1.1. Recital One. Town Square Senior Apartments LLC (the "Developer") is the <br />owner of the real property legally described as follows: <br />Lot 1, Block 1, Falcon Heights Town Square, according to the recorded plat in <br />Ramsey County, Minnesota. <br />• <br />1.2. Recital Two. The City of Falcon Heights (the "City") and the Developer are <br />parties to a Development Agreement dated July 18, 2003 (the "Development Agreement"). <br />NOW, THEREFORE, the Developer and the City hereby certify that as of the date of <br />execution of this Certificate, no event of default exists under the Development Agreement. <br />IN WITNESS WHEREOF, the parties hereto have caused this Certificate to be duly <br />executed on their behalf as of the day and year set forth below. <br />Dated: January , 2005 <br />CITY OF FALCON HEIGHTS <br />By: <br />Sue Gehrz, Mayor <br />Dated: January ~.. ~ , 2005 <br />By: <br />Heather Worthington <br />City Administrator/Clerk <br />TOWN SQUARE SENIOR APARTMENTS <br />LLC <br />By: Sherman Associates, Inc. <br />Its: General Partner <br />George E. Sherman, President <br />~J <br />30 <br />