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"Corporate Guaranty" means that certain Corporate Guaranty bearing even date herewith
<br />executed by the Corporate Guarantor in favor of the HRA pursuant to which the Corporate
<br />Guarantor has unconditionally guaranteed the full payment and prompt performance of Loan No.
<br />1 and all obligations of the Borrower under the Loan Documents related thereto.
<br />"Default" means any Event of Default or the occurrence of any event which, with the
<br />giving of notice or the lapse of any applicable grace period, or both, would be an Event of
<br />Default.
<br />"Developer" means F & C Ramsey Apartments, LLC, an Indiana limited liability
<br />company and any successor in title to all or any portion of the Development Property;
<br />"Development Agreement" means that certain Development Agreement by and among F
<br />& C Ramsey, LLC, the Borrower, the HRA and the City of Ramsey, Minnesota dated as of
<br />, 2011, and recorded in the office of the Anoka County Registrar of Titles on
<br />as Document No. . F & C Ramsey, LLC assigned all of
<br />its rights, except the right to require the City to deliver the TIF Note to F & C Ramsey, LLC
<br />pursuant to Section 6.1 of the Development Agreement, and all of its obligations under the
<br />Development Agreement to Developer pursuant to that certain dated
<br />and recorded in the office of the Anoka County Registrar of Titles on
<br />as Document No.
<br />"Development Property" means Lot 3, Block 1, COR ONE, Anoka County, Minnesota
<br />and all improvements constructed thereon.
<br />"Draw Request" means a Draw Request and Draw Request Certification in the form of
<br />Exhibit A hereto.
<br />"Environmental Laws" shall mean, collectively, all applicable federal, state, .local and
<br />foreign laws, common law or regulations, treaties, orders, decrees, permits, licenses,
<br />authorizations, judgments or injunctions issued, promulgated, approved or entered thereunder,
<br />now or hereafter in effect in each case relating to pollution or protection of individual, public or
<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 7.1 hereof.
<br />"Final Construction Plans" has the meaning set forth in the Development Agreement.
<br />"General Contractor" means Flaherty & Collins Construction, Inc.
<br />"Hazardous Materials" includes but is not limited to substances defined as "hazardous
<br />substances," "toxic substances" or "hazardous wastes" in the Comprehensive Environmental
<br />Response Compensation Liability Act of 1980, as amended, 42 U.S.C. §9601, et seq., and
<br />C-2-3
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