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WHEREAS, the Authority is satisfied that the terms of the Assignment, as provided <br />in the Assignment Documents, and the Subordination Agreement carry out the intentions <br />of the parties and are necessary, appropriate, and in the best interests of the City of <br />Mounds View. <br />NOW THEREFORE, BE IT RESOLVED, by the Mounds View Economic <br />Development Authority, as follows: <br />1. The recitals set forth in the preamble to this Resolution are incorporated into this <br />Resolution as if fully set forth herein. <br />2. The Assignment of Development Agreement is hereby approved in all respects. <br />3. The Assignment of Tax Increment Financing is hereby approved in all respects. <br />4. The Subordination Agreement is hereby approved in all respects. <br />5. The President and Executive Director of the Authority are hereby authorized <br />and directed to execute the aforementioned documents for and on behalf of the <br />Authority in substantially the forms now on file with the Authority, but with such <br />modifications as shall be deemed necessary, desirable, or appropriate, and <br />otherwise approved by the Authority's attorney, the execution thereof to <br />constitute conclusive evidence of their approval of any and all modifications <br />therein. <br />6. The President, Executive Director, staff and consultants of the Authority are <br />hereby authorized to execute and deliver any and all documents deemed <br />necessary to carry out the intentions of this resolution and the Assignment. <br />Adopted on the /O day of :]�o oof, 2018 . <br />Attest: <br />N Yemui d. Executive Director <br />(SEAL) i <br />2 <br />547114v1 DTA MU205A7 <br />Carol A. Mueller, President <br />