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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 />, 2023, as the same may be from time to time modified; <br />County means Anoka County, Minnesota; <br />Developer means Ramsey Properties, LLC, a Minnesota limited liability company, its <br />successors and assigns; <br />Development District means Development District No. 1, including the real property <br />described in the Development Program; <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 />Legal and Administrative Expenses means the fees and expenses actually incurred by the <br />City in connection with the review and analysis of the development proposed under this <br />Agreement, the adoption and administration of the Tax Increment Financing Plan and <br />establishment of the Tax Increment District, the preparation of this Agreement and the issuance of <br />2 <br />76644791v2 <br />