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57 fifty percent (50%) difference as shown on the Audited Construction Cost Statement, up to a maximum amount of $160,755. Section 4.4 Assessment Agreement. (a) The Developer and the Authority agree to execute an Assessment Agreement in substantially the form attached hereto as Exhibit H. The Developer shall be responsible for obtaining the certification of the County Assessor of the County ("County Assessor") to the Assessment Agreement and for filing the Assessment Agreement against the Development Property. The Assessment Agreement shall specify the Assessor's Minimum Market Value for the Development Property for calculation of real property taxes. Unless the County Assessor requires a lower amount, the Developer agrees to a minimum market value for the Property as of January 2 of each of the years 2015 through 2029 (respecting taxes payable in the years 2016 through 2030, inclusive) of not less than $14,440,000 (such minimum market value is herein referred to as the "Assessor's Minimum Market value'. (b) Nothing in the Assessment Agreement shall limit the discretion of the County Assessor to assign a market value to the Development Property in excess of the Assessor's Minimum Market Value or prohibit the Developer from seeking through the exercise of legal or administrative remedies a reduction in such market values for property tax purposes; provided however, that the Developer shall not seek a reduction of such market value below the Assessor's Minimum Market Value for any year's assessment for which the Assessment Agreement shall remain in effect. Unless earlier terminated as described above, the Assessment Agreement shall remain in effect with respect to the payable 2016 through the payable 2030 real estate property taxes, both inclusive. (c) The Assessment Agreement must be certified by the County Assessor, as provided in Minnesota Statutes, Section 469.177, Subdivision 8, upon a finding by the County Assessor that the Assessor's Minimum Market Value is reasonable. Pursuant to Minnesota Statutes, Section 469.177, Subdivision 8, the filing by the Developer of the Assessment Agreement in the office of the County Recorder and/or Registrar of Titles, as applicable, shall constitute notice to any subsequent encumbrancer or purchaser of the Development Property (or part thereof), whether voluntary or involuntary, and such Assessment Agreement shall be binding and enforceable in its entirety against any such subsequent purchaser or encumbrancer, including the holder of or mortgagee under any mortgage. (d) The Developer shall cause the Assessment Agreement to be filed against the Development Property. The Authority shall have no obligation to file the Assessment Agreement or to ascertain whether the Developer has done so. (e) Throughout the term of the Assessment Agreement, the Developer shall take no action, and suffer no circumstances to exist or action to be taken by others (to the extent the Developer may prevent the same), the effect of which would be to render the Development Property or any portion thereof to be no longer generally subject to real property taxation. The Developer agrees that prior to the termination of the Assessment Agreement: 13