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2701692v5
<br />01 /19/11
<br />employee health or safety or the environment (including, without limitation, ambient and indoor
<br />air, surface water, groundwater, soil, land surface or subsurface, and natural resources such as
<br />wetlands, flora and fauna) including, without limitation, laws relating to (a) emissions,
<br />discharges, releases or threatened releases of Hazardous Materials into the environment and (b)
<br />the manufacture, processing, distribution, use, generation, treatment, storage, disposal, transport
<br />or handling of Hazardous Materials.
<br />"Event of Default" shall have the meaning given in Section 8.1 hereof.
<br />"Final Construction Plans" has the meaning set forth in the Development Agreement.
<br />"General Contractor" means Flaherty & Collins Construction, Inc.
<br />"Guarantor" means Flaherty & Collins Construction, Inc.
<br />"Guaranty" means that certain Guaranty bearing even date herewith executed by the
<br />Guarantor in favor of the City pursuant to which the Guarantor has unconditionally guaranteed
<br />the full payment and prompt performance of all obligations of the Developer under the Loan
<br />Documents.
<br />"Hazardous Materials" the term "Hazardous Materials" includes but is not limited to
<br />substances defined as "hazardous substances," "toxic substances" or "hazardous wastes" in the
<br />Comprehensive Environmental Response Compensation Liability Act of 1980, as amended, 42
<br />U.S.C. §9601, et seq., and substances defined as "hazardous wastes," "hazardous substances,"
<br />"pollutants, or contaminants" as defined in the Minnesota Environmental Response Liability Act,
<br />Minnesota Statutes § 115B.02. The term "Hazardous Materials" also includes asbestos,
<br />polychlorinated biphenyls, petroleum, including crude oil or any fraction thereof, petroleum
<br />products, heating oil, natural gas, natural gas liquids, liquefied natural gas, or synthetic gas
<br />useable for fuel (or mixtures of natural gas or synthetic gas).shall mean any pollutant,
<br />contaminant, toxic or hazardous substance, constituent or waste, or any other constituent, waste,
<br />material, compound or substance including, without limitation, asbestos, petroleum (including
<br />crude oil or any fraction thereof) or any petroleum product, which is subject to regulation or
<br />which can give rise to liability under any Environmental Law.
<br />"Loan Documents" means this City Loan Agreement, the City Note, the Guaranty and
<br />any and all documents, instruments, certificates and agreements executed by the Developer and/or
<br />the Guarantor in connection with the City Loan, and any and all renewals, replacements,
<br />supplements, modifications, extensions and/or amendments of any of the foregoing.
<br />"Minimum Improvements" means the "Minimum Improvements" as defined in the
<br />Development Agreement.
<br />"Organizational Documents" means (a) as to any corporation, the certificate or articles of
<br />incorporation or association, the bylaws, any unanimous shareholder agreement or declaration,
<br />any certificate of determination or instrument relating to the rights of preferred shareholders of
<br />such corporation, any shareholder rights agreement or voting trust agreement and all other
<br />documents of a comparable nature, (b) as to any limited liability company, the articles of
<br />organization, the operating agreement, any unanimous member agreement or voting trust
<br />agreement and all other documents of a comparable nature, (c) as to any partnership, its
<br />partnership agreement, its certificate of partnership and all other documents of the nature
<br />C -3
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