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SUBORDINATION OF DEVELOPMENT AGREEMENT THIS SUBORDINATION OF DEVELOPMENT AGREEMENT ( "Agreement ") is made and entered effective the 23rd day of May, 2008, by and among the City of Little Canada, ?,Zii sc,t a immicipal i.uipuiaiiuu and poiiiioni'subdivisien organized and existing under the Constitution and the laws of the State of Minnesota, whose address is 515 East Little Canada Road, Little Canada, Minnesota 55117 ( "City "), RAB, LLC, a Minnesota limited liability company, whose address is 2935 Country Drive, Suite 100, Little Canada, Minnesota 55117 ( "Borrower "), and Bremer Bank, National Association, a national banking association, with offices at 372 St. Peter Street, St. Paul, Minnesota 55102 ( "Mortgagee "). RECITALS; A. The City and the Borrower entered into that certain Development Agreement dated as of July 21, 1999, as amended by that certain Amendment to Development Agreement by and between the City and the Borrower dated as of January 19, 2005 (collectively and as amended, the "Development Agreement "), pertaining to (1) the development of an approximately 30,000 square foot office building (the "Phase I Minimum Improvements "), on part of the property now legally described on Exhibit A attached hereto and hereby made a part hereof (the "Development Property ") and (ii) the development of an approximately 16,400 square foot office building (the "Phase II Minimum Improvements ")(the Phase 1 Minimum Improvements and the Phase II Minimum Improvements are sometimes collectively referred to herein as the "Minimum Improvements ") on part of the Development Property. Unless otherwise defined herein, all capitalized terms used in this Agreement shall have the same meanings as defined in the Development Agreement. 13. The Mortgagee has agreed to provide financing to the Borrower to be secured by the Development Property (collectively, the "Loan "). FO'd Lb:tPI 800?- 8? -AdW