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RESOLUTION NO.9558 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA APPROVING CONSENT TO OWNERSHIP CHANGE IN SILVER LAKE COMMONS PROJECT WHEREAS, the city of Mounds View ("City") previously entered into a development agreement for real property located within the City, dated December 21 ", 1998 (the "Agreement"); and WHEREAS, the Agreement, along with the various other documents cited therein, included various ongoing obligations which would need to be satisfied by the Silver Lake Commons Project (the "Property"); and WHEREAS, the Property is currently owned by Burnsville Parkway Estates LLC ("Burnsville Parkway"); and WHEREAS, the City previously acknowledged and consented to a change in the form of Burnsville Parkway, as well as a modification to the Management Agreement entered into between the City Burnsville Parkway; and WHEREAS, neither of the previous consents abridged or released any obligations with respect to the ongoing ownership or operation of the Property; and WHEREAS, Burnsville Parkway has entered into an agreement to sell the Property to Silver Lake Commons LLC, a Minnesota limited liability company formed under the laws of the state of Minnesota (the "Buyer"); and WHEREAS, the Agreement requires that the City consent to any change in ownership related to the Property; and WHEREAS, Burnsville Parkway has requested that the City acknowledge and consent to the change in the ownership by signing the Assignment and Assumption of Housing Development Agreement attached hereto as Exhibit A, and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED, that the above -referenced recitals are incorporated herein to this Resolution; and NOW, THEREFORE, BE IT RESOLVED, that the City does hereby acknowledge and consent to the change in ownership, subject to the terms contained herein. Nothing herein shall be