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1,,,,,,00000001000 <br />onovonolooloilio <br />Project means the construction of an approximately 121 units of market rate re <br />housing on the Development Property located in the City to include such amenities as set forth in <br />Section 2.2 (10) of this Agreement; <br />Site Improvements means the site improvements undertaken or to be undertaken on the <br />Development Property, more particularly described on Exhibit C attached hereto; <br />Special Legislation means Minnesota Laws, 2010, Chapter 389, Article 7, Section 22, as <br />amended by Minnesota Laws, 2011, Chapter 112, Article 11, Section 16; <br />State means the State of Minnesota; <br />Tax Increments means 85% of the tax increments derived from the Development <br />Property as calculated by the City in its sole discretion and which have been received by the City <br />in accordance with the provisions of Minnesota Statutes, Section 469.177; <br />Tax Increment Act means Minnesota Statutes, Sections 469.174 through 469.1794, as <br />amended; <br />Tax Increment District means Tax Increment Financing (Redevelopment) District No. 14 <br />located within the Development District, a description of which is set forth in the Tax Increment <br />Financing Plan, which was qualified as a redevelopment district under the Tax Increment Act; <br />Tax Increment Financing Plan means the tax increment financing plan approved for the <br />Tax Increment District by the City Council on December 14, 2010, and any future amendments <br />thereto; <br />TIF Note means the Tax Increment Revenue Note (ParkView East, LLC Project) to be <br />executed by the City and delivered to the Developer pursuant to Article III hereof, the form of <br />which is attached hereto as Exhibit B; and <br />Unavoidable Delays means delays, outside the control of the party claiming its <br />occurrence, which are the direct result of strikes, other labor troubles, unusually severe or <br />prolonged bad weather, acts of God, fire or other casualty to the Project, litigation commenced <br />by third parties which, by injunction or other similar judicial action or by the exercise of <br />reasonable discretion, directly results in delays, or acts of any federal, state or local <br />governmental unit (other than the City) which directly result in delays. <br />3 <br />7269889v1 <br />