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3. Should the sale price of the either lot exceed $17,000, <br />Coronet agrees to split the proceeds in excess of that amount on an <br />equal basis with the City to offset the City's monetary loss on the <br />special assessments. At the time of closing, verification of the <br />sale price shall be provided by furnishing a copy of the purchase <br />agreement executed on the affected lot as well as the Certificate of <br />Real Estate Value (CRV) filed with the County recorder. <br />4. Any amounts due the City pursuant to this agreement shall be <br />remitted at the time of closing of Coronet's sale of the property. <br />5. The City only waives its right to re- assess the amount of <br />special assessments, interest, and penalties as a result of this <br />agreement. <br />CITY OF LITTLE CANADA <br />By: <br />By: <br />STATE OF MINNESOTA ) <br />ss. <br />COUNTY OF RAMSEY ) <br />Raymond G. Hanson <br />Mayor <br />Joel R. Hanson <br />City Administrator <br />The foregoing agreement was acknowledged before me this <br />of , 19 , by Raymond G. Hanson its Mayor and by <br />Joel R. Hanson, its City Administrator. <br />day <br />Notary Public <br />Page 4 <br />