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1.7. Recital Seven. Pursuant to Section 7.1 of the Development Agreement, the Developer executed an Assessment Agreement dated December 9, 2003, and filed on January 14, 2004, as Document No. 3719505 (Abstract) and filed October 14, 2004, as Document No. 1851445 (Torrens) and amended by First Amendment to Assessment Agreement dated July 16, 2004, and filed on October 13, 2004, as Document No. 3799745 (Abstract) and filed October 14, 2004, as Document No. 1851446 (Torrens) (the "Assessment Agreement "). 1.8. Recital Eight. Section 7.2 of the Development Agreement provides that upon the EDA's issuance of a Certificate of Completion and Release pursuant to Section 6.5 of the Development Agreement, the property subject to the Certificate of Completion and Release is also released from the terms of the Development Agreement and the terms of the Assessment Agreement. 1.9. Recital Nine. The Developer has completed the Minimum Improvements located on the portion of the Townhome Development Property described on Exhibit A and has otherwise satisfied the Developer's obligations under Section 6.6 of the Development Agreement and has requested this Certificate of Completion and Release from the EDA. 2. Certificate of Completion and Release. The EDA hereby certifies that the Developer has satisfied its obligations with respect to the construction of Minimum Improvements on the real property legally described on the attached Exhibit A (the "Completed Property"). The EDA further acknowledges and agrees that the Completed Property is released from the Right of Re- Entry, the Development Agreement and the Assessment Agreement. IN WITNESS WHEREOF, the EDA has caused this certificate to be duly executed on its behalf by the President and Secretary this day of August, 2011. ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF LITTLE CANADA By Its President And By Its Secretary