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the "Costs of Issuance" as defined in the Development Agreement] and all amendments, <br />modifications, replacements, renewals and substitutions therefor. <br />"Notes" means collectively Note No. 1 and Note No. 2. <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 />described above, and (d) as to any other entity, its organizational or governing documents and all <br />other documents of the nature described above. <br />"Permits" means collectively all building permits, licenses and approvals required to be <br />obtained prior to commencing construction of the Minimum Improvements. <br />"Person" means a natural person, corporation, partnership, limited partnership, <br />unincorporated association, or proprietorship. <br />"Personal Guarantor" means David M. Flaherty. <br />"Personal Guaranty" means that certain Personal Guaranty bearing even date herewith <br />executed by the Personal Guarantor in favor of the HRA pursuant to which the Personal <br />Guarantor has unconditionally guaranteed the full payment and prompt performance of Loan No. <br />2 and all obligations of the Borrower under the Loan Documents related thereto. <br />"Pledge Agreement" means a Membership Interest Pledge Agreement, in substantially <br />the form attached as Exhibit B, pursuant to which all of the Pledgors grant the HRA a security <br />interest in 100% of the membership interests in F & C Ramsey Apartments, LLC as security for <br />Borrower's performance of Borrower's obligations under this Loan Agreement and the Notes. <br />"Pledgors" means all of the members of F & C Ramsey Apartments, LLC. <br />"PNC Loan Documents" means any and all documents, instruments and other agreements <br />between Developer and PNC Bank, National Association entered into from time to time. <br />"Pro'ect" has the meaning set forth in the Development Agreement. <br />"Purchase Agreement" means the purchase agreement among the HRA, the Developer <br />and the City of Ramsey, Minnesota dated , 2012. <br />ARTICLE II <br />DOCUMENTS <br />C-2-5 <br />2695614v16 <br />