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EXHIBIT B <br /> Section 469. 177, Subd. 8. Assessment Agreements. An <br /> authority may, upon entering into a development or <br /> redevelopment agreement pursuant to section 469 . 176, <br /> subdivision 5, enter into a written assessment agreement in <br /> recordable form with the developer or redeveloper of <br /> property within the tax increment financing district which <br /> establishes a minimum market value of the land and completed <br /> improvements to be constructed thereon until a specified <br /> termination date, which date shall not be later than the <br /> date upon which tax increment will no longer be remitted to <br /> The assessment agreement shall be presented to the county <br /> assessor, or city assessor having the powers of the county <br /> assessors, of the jurisdiction in which the tax increment <br /> financing district is located. The assessor shall review <br /> the plans and specifications for the improvements to be <br /> constructed, review the market value previously assigned to <br /> the land upon which the improvements are to be constructed <br /> and, so long as the minimum market value contained in the <br /> assessment agreement appears, in the judgment of the <br /> assessor, to be a reasonable estimate, shall execute the <br /> following certification upon such agreement: <br /> The undersigned assessor, being legally <br /> responsible for the assessment of the <br /> above described property upon completion <br /> of the improvements to be constructed <br /> thereon, hereby certifies that the <br /> market value assigned to such land and <br /> improvements upon completion shall not <br /> be less than $7,400, 000. 00. <br /> Upon transfer of title of the land to be developed or <br /> redeveloped from the authority to the developer or <br /> redeveloper-, such assessment agreement, together with a- copy <br /> of this subdivision, shall be filed for record and recorded <br /> in the office of the county recorder or filed in the office <br /> of the registrar of titles of the county where the real <br /> estate or any part thereof is situated. Upon completion of <br /> the improvements by the developer or redeveloper, the <br /> assessor shall value the property pursuant to Section <br /> 273 . 11, except that the market value assigned thereto shall <br /> not be less_than a-n the minimum market value contained-in-the <br /> assessment agreement. Nothing herein shall limit the <br /> discretion of the assessor to assign a market value to the <br /> property in excess of the minimum market value contained in <br /> 10 <br />