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10429233v2 <br /> <br />Consent to Assignment and Assumption of Contract for Private Development and Assignment of TIF Note <br /> <br />CONSENT TO ASSIGNMENT AND ASSUMPTION OF CONTRACT FOR PRIVATE <br />DEVELOPMENT AND ASSIGNMENT OF TIF NOTE <br /> <br /> <br />The Lino Lakes Economic Development Authority, a public body corporate and politic <br />under the laws of the State of Minnesota (the “Authority”), issued its Tax Increment Revenue <br />Note on November 22, 2017, in the principal amount of $1,200,000.00 in favor of United <br />Properties Development LLC, a Minnesota limited liability company (“United Properties”) (the <br />“TIF Note”) and entered in that that certain Contract for Private Development dated July 25, <br />2016, pertaining to the development of certain land located in Lino Lakes, Minnesota (the <br />“Development Agreement”). The Authority has received an Assignment and Assumption of <br />Contract for Private Development and Assignment of TIF Note, by and between United <br />Properties and AX Lino Lakes L.P., a Delaware limited partnership (“AX Lino Lakes”), which <br />assigns to AX Lino Lakes all of United Properties’ interest in the TIF Note and Development <br />Agreement. The Authority consents to such assignment pursuant to the terms of the TIF Note <br />and Development Agreement. <br /> <br /> <br />LINO LAKES ECONOMIC DEVELOPMENT <br />AUTHORITY, a public body corporate and politic <br />under the laws of the State of Minnesota <br /> <br /> <br /> <br />By: <br />Print Name: <br />Its:_______________________________________ <br /> <br /> <br /> <br />By: <br />Print Name: <br />Its:______________________________________ <br /> <br /> <br />