Laserfiche WebLink
21 <br />the Developer will remain obligated under Sections 6.1 and 6.2 hereof, unless the Developer is <br />released from such obligations in accordance with the terms and conditions of Section 8.2(b) or 8.3 <br />hereof. <br /> <br />Section 6.4. Minimum Assessment Agreement. (a) Upon execution of this Agreement, the <br />Developer shall execute the Minimum Assessment Agreement pursuant to Minnesota Statutes, <br />Section 469.177, subd. 8, specifying an assessor’s minimum market value for the TIF District <br />Property with the Minimum Improvements constructed thereon. <br /> <br /> (b) The Minimum Assessment Agreement shall be substantially in the form attached <br />hereto as EXHIBIT H. Nothing in the Assessment Agreement shall limit the discretion of the <br />assessor to assign a market value to the property in excess of the Minimum Market Value nor <br />prohibit the Developer from seeking through the exercise of legal or administrative remedies a <br />reduction in such market value for property tax purposes, provided however, that the Developer <br />shall not seek a reduction of such market value below the Minimum Market Value in any year so <br />long as such Minimum Assessment Agreement shall remain in effect. The Assessment Agreement <br />shall remain in effect for the period described in EXHIBIT H. <br /> <br /> <br /> <br />(The remainder of this page is intentionally left blank.)