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<br />223304v1 <br />MORTGAGE HOLDER CONSENT <br />TO <br />FIRST AMENDMENT TO DEVELOPMENT CONTRACT <br />and PLANNED UNIT DEVELOPMENT AGREEMENT <br />(PC 22-014) <br /> <br /> <br /> KREF LENDING III LLC, a Delaware limited liability company, which holds the following: <br /> <br />1. Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing dated June 30, <br />2021 and recorded July 7, 2021 as Ramsey County, Minnesota, Document No. A04894371, and <br />2. Assignment of Leases and Rents dated June 30, 2021 and recorded July 7, 2021 as Ramsey County, <br />Minnesota, Document No. A04894372, (collectively “Mortgages”), <br /> <br />on all or part of the property, more particularly described in the foregoing First Amendment to <br />Development Contract and Planned United Development, agrees that the Development Contract and <br />Planned United Development Agreement shall remain in full force and effect even if it forecloses on its <br />Mortgages. <br /> <br /> Dated this _____ day of ____________, 2022. <br /> <br /> KREF LENDING III LLC, <br /> <br /> <br /> By ______________________________________ <br /> ___________________________ [print name] <br /> Its __________________________ <br /> <br /> <br />STATE OF ______________ ) <br /> ( ss. <br />COUNTY OF ___________ ) <br /> <br /> <br /> The foregoing instrument was acknowledged before me this _____ day of _____________, 2022, <br />by ______________________________, the ________________________ of KREF Lending III LLC, <br />a Delaware limited liability company, on behalf of the entity. <br /> <br /> ________________________________________ <br /> Notary Public <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