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RESOLUTION AUTHORIZING THE EXECUTION OF <br /> AN ASSIGNMENT OF TAX INCREMENT FINANCING NOTE <br /> BE IT RESOLVED by the City Council of the City of Roseville, Minnesota (the <br /> "City"), as follows: <br /> 1. The City Council has entered into a Development Agreement, dated January 13, <br /> 2010 (the "Development Agreement") with United Properties Residential, LLC, a Minnesota <br /> limited liability company (the "Developer"). The Developer desires to assign its interest in the <br /> Tax Increment Financing Note (the "Note") pursuant to an Assignment of Tax Increment (the <br /> "Assignment") by and among the Developer, PFI II, LLC, a Minnesota limited liability <br /> company, and the City of Roseville, Minnesota (the "City"). Pursuant to the terms of the.Note <br /> the Developer must obtain the consent of the City prior to making any assignment of its interests <br /> under the Note. <br /> 2. A draft of the Assignment has been submitted to the City Council for approval. <br /> 3. The City Council hereby approves the Assignment in substantially the form <br /> submitted, and the Mayor and the Manager are hereby authorized and directed to execute the <br /> Assignment on behalf of the City. In the absence of the Mayor or the Manager, any document <br /> authorized by this resolution to be executed may be executed by an acting or duly designated <br /> official. <br /> Adopted: January27 , 2014 <br /> tri 410 <br /> Mayor <br /> Attest: <br /> Manager <br /> 2 <br /> 5917228v1 <br />