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09 A or hearing on the assessment levied to finance the Public Improvements, and to levy 100 percent of the Improvement Costs against the Property as an assessment; WHEREAS, the City is willing to construct the Public Improvements without such notices or hearings, provided the assurances and covenants hereinafter stated are made by the Developer to ensure that the City will have a valid and collectable assessment as it relates to the Property to pay for the Improvement Costs; and WHEREAS, to implement the Special Assessments in accordance with City ordinances and Minnesota state statutes, the Developer must execute the Special Assessment Agreement. NOW, THEREFORE, in consideration of and pursuant to the mutual promises contained herein, and in consideration of the City's action to cause the construction of the Public Improvements, the parties hereto agree as follows: I. Petition. As the owner of the Property, the Developer hereby petitions the City to install the Public Improvements, pursuant to Minnesota Statutes section 429, and to cause the Improvement Costs to be specially assessed against the Property. 2. Consent. The Developer consents to the imposition of the Special Assessments to be levied against the Property equal to the Improvement Costs. The Developer expressly approves the Special Assessments and agrees that: (i) allocation of one hundred percent (100%) of the Improvement Costs to the Property represents a fair apportionment of such Special Assessments; and (ii) the dollar value of the benefit accruing to the Property from the Public Improvements equals or exceeds the amount of the Special Assessments. 3. Waiver. The Developer understands that it is entitled to a public hearing to consider the Public Improvements and a public hearing to confirm the assessment rate, pursuant to Minnesota Statutes section 429: Developer hereby waives such hearings and appeal rights, and also hereby waives any and all other procedural and substantive objections to the Special Assessments, whether provided by Minnesota Statutes section 429, the City Code, or any other statute or ordinance, including but not limited to: (i) notice and public hearing requirements; (ii) claims that the Property or any part thereof does not receive a benefit from the Public Improvements equal to or greater than the dollar amount of the Special Assessments; (iii) claims that the Special Assessments are not uniform upon the same classes of property; and (iv) any rights to an appeal from the Special Assessments, or any other appeal rights available under the Minnesota state statutes or the City Ordinances. Notwithstanding the foregoing, the Developer's waivers contained herein shall not extend to any assessments levied in excess of the Improvement Costs. 4. General. Recitals. The undersigned hereby affirm the accuracy of the recitals, which are hereby incorporated into this Special Assessment Agreement by reference. Title and Authority. The Developer is the sole fee simple owner of the Property and represents and warrants that it owns 100 percent of the Property and has full legal power and authority to encumber the Property as herein provided. C-2