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1 As of January 2, , the minimum market <br />value, which shall be assessed for the Project, shall not be <br />less than $ <br />2 The minimum market value herein established shall <br />be of no further force and effect and this Agreement shall <br />terminate on the earlier of (i) December 31, and (ii) <br />the date on which the Tax Increment District expires or is <br />otherwise terminated. <br />3 This Agreement shall be recorded by the City with <br />the County Recorder of Ramsey County, Minnesota. The <br />Developer shall pay all costs of recording. <br />4 The Assessor represents that he has reviewed the <br />plans and specifications for the improvements and the market <br />values previously assigned to the land upon which the <br />improvements are to be constructed and that the "minimum <br />market value" as set forth above is reasonable. <br />5 Neither the preambles nor provisions of this <br />Agreement are intended to, or shall they be construed as, <br />modifying the terms of the Agreement between the City and <br />the Developer. <br />6 This Agreement shall inure to the benefit of and <br />be binding upon the successors and assigns of the parties. <br />IN WITNESS WHEREOF, the City, the Developer and the <br />Assessor have caused this Agreement to be executed in their <br />names and on their behalf all as of the date set forth <br />above. <br />(SEAL) <br />1054867.2 <br />CITY OF LITTLE CANADA <br />By <br />Its Mayor <br />Page 96 <br />