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RESOLUTION NO. 8822 <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION APPROVING CONSENT TO PARTNERSHIP CHANGE IN <br />SILVER LAKE COMMONS PROJECT <br />WHEREAS, the city of Mounds View ("City") previously entered into a development agreement <br />for real property located within the City, dated December 21st, 1998 (the "Agreement"); and <br />WHEREAS, the parties to the Agreement subsequently entered into a First Amendment to the <br />Agreement whereby the parties added an additional developer entity to the Agreement; and <br />WHEREAS, such additional developer was known as the Mounds View Family Housing Limited <br />Partnership, a Minnesota limited partnership (the "Partnership"), which consisted of the following general <br />and limited partners: <br />A. General Partner: MSP Housing — Minnesota, LLC <br />B. General Partner: Milo S. Pinkerton, an individual; <br />C. Limited Partner: MSP Housing — Minnesota, LLC <br />D. Milo Pinkerton <br />WHEREAS, the Partnership has changed its corporate structure, including changes to the roster of <br />general and limited partners and relative partnership interests, such proposed changes to the structure result <br />in the following roster of general and limited partners and respective interests: <br />A. Limited Partner: Virgil Taus — (0.01); <br />B. General Partner: MSP Housing — Minnesota, LLC (99.98); and <br />C. General Partner: Milo Pinkerton (0.01). <br />WHEREAS, the Partnership has requested that the City acknowledge and consent to the change in <br />the Partnership's structure and reallocation of interest by signing the acknowledgement and consent <br />attached hereto as Exhibit A. <br />NOW, THEREFORE, BE IT RESOLVED, that the above -referenced recitals are incorporated <br />herein to this Resolution. <br />5065220 AMB MU210-17 <br />