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ARTICLE I <br />DEFINITIONS <br />Section 1.1. Definitions. All capitalized terms used and not otherwise defined herein <br />shall have the following meanings unless a different meaning clearly appears from the context: <br />Agreement means this Agreement, as the same may be from time to time modified, <br />amended or supplemented; <br />Assessment Agreement means the agreement, in substantially the form of the agreement <br />contained in Exhibit D attached hereto and hereby made a part of this Agreement, among the <br />Developer, the City and the Assessor for the County, entered into pursuant to Article III of this <br />Agreement; <br />Assessor's Minimum Market Value means the agreed minimum market value of the <br />Development Property and Project and for calculation of real property taxes as determined by the <br />Assessor for the County pursuant to the Assessment Agreement; <br />Business Day means any day except a Saturday, Sunday or a legal holiday or a day on <br />which banking institutions in the City are authorized by law or executive order to close; <br />City means the City of Ramsey, Minnesota, its successors and assigns; <br />City Development Agreement means, the Development Agreement for <br />by and between the City and dated as of <br />, 2018, as the same may be from time to time modified; <br />County means Anoka County, Minnesota; <br />Developer means Affinity at Ramsey, LLC, a Washington limited liability company, its <br />successors and assigns; <br />Development District means the real property included in Development District No. 1 <br />heretofore established; <br />Development Program means the Development Program approved in connection with the <br />Development District; <br />Development Property means the real property described in Exhibit A attached to this <br />Agreement; <br />Event of Default means any of the events described in Section 4.1 hereof; <br />Note Payment Date means August 1, 2020, and each February 1 and August 1 of each <br />year thereafter to and including February 1, 2040; provided, that if any such Note Payment Date <br />should not be a Business Day, the Note Payment Date shall be the next succeeding Business <br />Day; <br />2 <br />10567153v3 <br />