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CERTIFICATION BY COUNTY ASSESSOR <br />The undersigned, having reviewed the Assessment Agreement dated as of December 9, <br />2003 between the Economic Development Authority of the City of Little Canada and The Villas <br />at Little Canada LLC, a Minnesota limited liability company, as amended by First Amendment <br />to Assessment Agreement, dated as of July 16, 2004; the plans and specifications for the <br />Townhomes, as defined in the Assessment Agreement; and the market value currently assigned <br />to Townhome Development Property and being of the opinion that the minimum market value <br />contained in the Assessment Agreement appears reasonable: hereby certifies as follows: The <br />undersigned Assessor, being legally responsible for the assessment of the above described <br />property, hereby certifies that the market values assigned to the Townhome Development <br />Property are reasonable. <br />County Assessor for Ramsey County <br />STATE OF MINNESOTA ) <br />) ss. <br />COUNTY OF RAMSEY ) <br />The foregoing instrument was acknowledged before me on this day of <br />, 2004 by , the County Assessor for Ramsey <br />County. <br />_502!33v_' <br />Notary Public <br />4 <br />