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, which holds a <br />mortgage on the Property, the development of which is governed by the foregoing Development <br />Agreement, agrees that the Development Agreement shall remain in full force and effect even if <br />it forecloses on its mortgage. <br />Dated this day of 2021. <br />STATE OF MINNESOTA <br />)ss. <br />COUNTY OF <br />The foregoing instrument was acknowledged before me this — day of <br />2021, by <br />DRAFTED BY: <br />City of Lake Elmo <br />3880 Laverne Avenue North <br />Lake Elmo, MN 55042 <br />(651) 747-3901 <br />34 <br />LA515-93-153821.0 <br />