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PRO FORMA CERTIFICATE OF COMPLETION <br />1. Recitals. <br />1.1 Recital One. The Lodge at Little Canada LLC (the "Developer ") is the <br />owner of the real property legally described on the attached Exhibit A (the "Development <br />Property ") <br />1.4 Recital Two. The Economic Development Authority of the City of Little <br />Canada (the "EDA ") and the Developer are parties to a Development Agreement, as <br />evidenced by a Memorandum of Development Agreement dated January 22, 2003 and <br />recorded in the office of the Ramsey County Recorder on January 23, 2003 at Document <br />No. 3579418. <br />1.5 Recital Three. Pursuant to Section 6 of the Development Agreement, the <br />Developer is obligated to complete the construction of certain Minimum Improvements <br />on the Development Property on or before the Construction Completion Date, as defined <br />in the Development Agreement. The Development Agreement provides that the <br />Construction Completion Date may be extended as a result of an Unavoidable Delay, as <br />defined in the Development Agreement. <br />NOW, THEREFORE, this is to certify that the Developer has completed the <br />construction of the Minimum Improvements pursuant to the terms of the Development <br />Agreement on or before the Construction Completion Date. <br />