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ARTICLE I <br /> DEFINITIONS <br /> Section 1.1 Definitions. The terms defined in this Article I shall for all purposes of this <br /> Mortgage have the meanings herein specified or those meanings specified in the Indenture, unless <br /> the context clearly requires otherwise: <br /> Bonds means the Series 2022 Bonds and any Additional Bonds issued under the Indenture. <br /> Charter School means PACT Charter School, a Minnesota nonprofit corporation, formed <br /> as a public charter school. <br /> Company means the Mortgagor, and any successor owner of the Mortgaged Property who <br /> agrees to be bound by this Mortgage. <br /> Environmental Regulation has the meaning provided in Section 3.3 hereof. <br /> Event of Default means any event defined as such in the Loan Agreement, the Indenture, <br /> or the Lease, the Pledge Agreement, or this Mortgage. <br /> Hazardous Substance has the meaning provided in Section 3.3 hereof. <br /> Indenture means the Indenture of Trust, dated as of September 1, 2022,between the Issuer <br /> and the Trustee, as amended and supplemented from time to time. <br /> Issuer means the City of Ramsey, Minnesota, a home rule charter city and political <br /> subdivision organized and existing under the Constitution and laws of the State,and any successor. <br /> Land means the same as defined in Section 2.1(a) below. <br /> Lease means the [Lease Agreement], dated as of September 1, 2022, between the <br /> Company, as lessor, and the Charter School, as lessee of the Mortgaged Property, as amended and <br /> supplemented from time to time. <br /> Loan Agreement means the Loan Agreement, dated as of September 1, 2022, between the <br /> Issuer and the Company, as amended or supplemented from time to time. <br /> Loan Repayments means the payments required to be made by the Company pursuant to <br /> Section 4.2 of the Loan Agreement. <br /> Mortgage means this Mortgage, Security Agreement, and Assignment of Rents, dated as <br /> of September 1, 2022, between the Mortgagor and the Mortgagee, as amended and supplemented <br /> from time to time. <br /> Mortgaged Property means all real estate,buildings,equipment, and other interests as more <br /> particularly described in subsections (a) through (g), inclusive, of Section 2.1 of this Mortgage, <br /> including the real estate described in EXHIBIT A attached to this Mortgage. <br /> 3 <br /> 73092175v4 <br />