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ATTACHMENT 3 AMENDED AND RESTATED ASSESSMENT AGREEMENT THIS AMENDED AND RESTATED ASSESSMENT AGREEMENT, made on or as of the ___ day of _________, 2024, by and between the Roseville Economic Development Authority, a public body corporate and politic and political subdivision of the State of Minnesota (the “Authority”) and Roseville Leased Housing Associates I, LLLP, a Minnesota limited liability limited partnership (the “Redeveloper”). WITNESSETH, that WHEREAS, on or before the date hereof the Authority and Redeveloper have entered into a Contract for Private Redevelopment dated as of June 22, 2020, as amended by the First Amendment to Contract for Private Redevelopment, dated as of ________, 2024 (collectively, the “Redevelopment Agreement”), pursuant to which the Authority is to facilitate the redevelopment of certain property in the City of Roseville, Minnesota (the “City”), hereinafter referred to as the “Property” and legally described in Exhibit A hereto; and WHEREAS, pursuant to the Redevelopment Agreement the Redeveloper has constructed certain improvements (the “Minimum Improvements”) upon the Property; and WHEREAS, the Redeveloper and the Authority previously entered into the Assessment Agreement, dated June 22, 2020 (the “Original Assessment Agreement”) and recorded in the Office of the County Recorder of Ramsey County, Minnesota on July 9, 2020 as Document Number A04822433; and WHEREAS, pursuant to the First Amendment the parties have agreed to modify the Assessment Agreement by entering into this Amended and Restated Assessment Agreement; and WHEREAS, the Authority and the Redeveloper desire to establish a minimum market value for the Property and the Minimum Improvements to be constructed thereon, pursuant to Minnesota Statutes, Section 469.177, subdivision 8; and WHEREAS, the Authority and the County Assessor of Ramsey County (the “Assessor”) have reviewed the preliminary plans and specifications for the improvements and have inspected such improvements; NOW, THEREFORE, the parties to this Agreement, in consideration of the promises, covenants and agreements made by each to the other, do hereby agree as follows: 1.The minimum market value which shall be assessed for ad valorem tax purposes for the Property described in Exhibit A attached hereto, together with the Minimum Improvements constructed thereon, and the minimum Market Value shall be $41,040,000 as of January 2, 2022 and January 2, 2023, and $62,435,000 as of January 2, 2024 and each January 2 thereafter, regardless of the status of construction on such dates, until termination of this Agreement under Section 2 hereof. 2.The minimum market value herein established shall be of no further force and effect and this Agreement shall terminate on the earlier of (a) the date of receipt by the Authority of the final payment from Ramsey County of Tax Increments (as defined in the Redevelopment Agreement) from Tax Increment Financing District No. 22: Twin Lakes II in the City; or (b) termination of the Redevelopment Agreement and/or the TIF Note issued thereunder pursuant to their respective terms. RS275\\21\\951541.v2 B-2 Qbhf!247!pg!257