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Draft 1/4/95 <br /> <br /> ARTICLE I <br />DEFINITIONS. EXHIBITS. RULES OF LNTERPRETATION <br /> <br /> Section 1.1 Definitions. In this Agreement, the following terms have the following <br />restive meanings unless the context hereof clearly requires otherwise: <br /> <br />(a) <br />Co) <br /> <br /> Ci _ty. The City of Ramsey, Anoka County, Minnesota. <br /> <br /> Construction Plans. Collectively, the plans, drawings, and related documcnt~ <br />in Exhibit B. <br /> <br /> D..C.X.O.Qg~. Wendell's, Inc., a Minnesota Corporation. <br /> <br /> ? (d) Development Property. "Fne property legally desc'ribed in Exhibit A hereto. <br /> ~ (e) Development District ("Districf'~. Development District No. 1, created by the City <br />pt~suant to Minnesota Statutes, Sections 469.124 through 469. I34 and described in the Program <br />~pted therefor. <br /> = <br /> ~i (f) Development District Pro_m'am ("Pro_re'am"). The plan for development of the <br />D~;trict adopted by the City pursuant to Minnesota Statutes, Sections 469.124 through 469.134. <br /> <br /> ~ (g) Holder. The owner of a Mortgage. <br /> <br /> ~ (h) Market Value. The market value of the Development Property as determined by the <br />~unty Assessor in accordance with Minnesota Statutes, Sect/on 273.11 (or as f'mally adjusted by <br />~assessor, board of equalization, commissioner of revenue, or any court). <br /> <br /> ~ (i) 3~l:J. t2g_D_.a~. The date that the TI/: Bonds have been fully paid or defeased. <br /> <br /> (j) Minimum Imr~rovements. The office and warehouse/manufacm_ring building to be <br /> - <br />c~nsrmcted by Developer in accordance with the Construction Plans. <br /> <br /> (k) Mortgage. The term "mortgage" shall include the mortgage references in Article VII <br /> this Agreement and any deed of trust or other instrament creating an encumbrance or lien upon <br />Development Property or any part thereof, as security for a loan. <br /> <br /> (i) Site Improvements. Collectively, the site preparation and other improvements to be <br />c~nstructed by the City on, or adjacent to, the Development Property, pursuant to the Site <br />~provement Plans. <br /> <br /> (m) Site Improvement Plans. Collectively, the plans, drawings and related documents <br />a~ached hereto as Exhibit C. <br /> <br /> (n) Tax .Increr~ent. The tax increments produced by increases in the valuation of <br />~peny in the ~ District. I <br /> <br /> (o) Tax Increment Bonds ("TIF Bonds%. The general obligation tax increment bonds <br />i~sued by the City to finance the Site Improvements on the Development Property and related costs: <br />~e term also includes any bonds or obligations issued to refund any TIF Bonds. <br /> <br /> (p) Tax Increment Financing Distrigt ("TIY: District'T TIF District No. 2 created by the <br />~ty pursuant to Minnesota Statues, Sections 469.I74 through 469.179 and described in the TIF <br />pdan adopted therefore. <br /> <br /> t~~ Page3 <br /> <br /> <br />