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IJK1bb MUKbAN Fax:6512236645 Dec 11 '98 17:07 P.37 EXHIBIT A ASSESSMENT AGREEMENT THIS AGREEMENT, dated as of this day of 1998 by and among the City of Mounds View (the "City") , a (the "Developer") , and the Ramsey County Assessor (the "Assessor' ) . WITNESSETH WHEREAS, on or before the date hereof the City and Developer have entered into a Development Agreement dated as of , 1998 (the "Agreement") regarding certain real property located in the city (the "Development Property") . WHEREAS, it is contemplated that pursuant to said Agreement, the Developer will undertake the construction of a hotel convention and ban et facility (the "Project") on the Development Property in accordance with plans and specifications approved by the City. WHEREAS, the City and Developer desire to establish a minimum market value for the Z✓vi.tivii of the Development Property and the improvements constructed or to be constructed thereon, pursuant to Minnesota Statutes, Section 469.177. WHEREAS, the Developer has acquired the Development Property consisting of land, the legal description of which is attached hereto as Exhibit A. WHEREAS, the City and the Assessor have reviewed plans and specifications for the Project. NOW, THEREFORE, the parties to this Agreement, in consideration of the promises, covenants and agreements made by each to the other, do hereby agree as follows: 1. As of January 2, 2000, the minimum market value, which shall be assessed for the Project, shall not be less than 2 . The minimum market value herein established shall be of no further force and effect and this Agreement shall terminate on the earlier of the date the Tax Increment Bonds (as defined in the Agreement) are paid in full and (ii) the date on which the Tax Increment District expires or is otherwise terminated. 965316-Red V2 to vi; 12/11/90 A-1