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EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE, MINNESOTA HELD: January 27 , 1997 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, Ramsey County, Minnesota, was duly called and held at the City Hall in said City on the 27thday of January , 1997, at6:30 o'clock P.M., for the purpose in part of approving an Amendment to Assessment Agreement with Everest Investments IV. The following members were present: Maschka, Goedeke, Mastel, Wiski, and Wall, and the following were absent: None. Member Maschka introduced the following reso- lution and moved its adoption: RESOLUTION APPROVING AMENDMENT TO ASSESSMENT AGREEMENT WITH EVEREST INVESTMENTS IV RESOLUTION 9376 A. WHEREAS, the City of Roseville, Minnesota (the "City"), has entered into an Assessment Agreement (the "original Assessment Agreement") dated as of July 2, 1986, with Everest Investments IV, a Minnesota general partnership (the "Company"), and the County Assessor of Ramsey County, Minnesota; and B. WHEREAS, the Company proposes that the City and Ramsey County Assessor execute an Amendment to Assessment Agreement (the "Amendment") which spreads the minimum market value established in the original Assessment Agreement to the six commercial condominium units that now comprise the Development Property defined below so that the agreed $14,467,000 minimum market value will no longer be applied on an aggregate basis; and C. WHEREAS, the Minnesota Tax Increment Law requires the approval of the Board of Commissioners of Ramsey County, Minnesota (the "County Board"), and School Board of Independent School District Number 621, Minnesota (the "School Board"), for 338837.1 1