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<br />187184v1 23 <br />MORTGAGE HOLDER CONSENT <br />TO <br />DEVELOPMENT CONTRACT <br /> <br /> <br /> _______________________________________________________, which holds a mortgage on <br />the subject property, the development of which is governed by the foregoing Development Contract, which <br />mortgage is dated ___________ and recorded _____________ with the Ramsey County Recorder/Registrar <br />as document number __________, agrees that the Development Contract shall remain in full force and <br />effect even if it forecloses on its mortgage. <br /> <br /> Dated this _____ day of ____________, 2_____. <br /> <br /> <br /> <br /> ______________________________________ <br /> <br /> <br /> ______________________________________ <br /> <br /> <br /> <br />STATE OF MINNESOTA ) <br /> ( ss. <br />COUNTY OF ___________ ) <br /> <br /> <br /> The foregoing instrument was acknowledged before me this _____ day of ___________, 2_____, <br />by ______________________________________________________. <br /> <br /> ________________________________________ <br /> Notary Public <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />DRAFTED BY: <br />CAMPBELL, KNUTSON <br />Professional Association <br />Grand Oak Office Center I <br />860 Blue Gentian Road, Suite 290 <br />Eagan, Minnesota 55121 <br />Telephone: (651) 452-5000 <br />JJJ