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ARTICLE I <br /> <br />DEFINITIONS <br />Section 1.1Definitions. 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 Development Agreement by and between the City and the <br />Developer as the same may be from time to time modified, amended or supplemented; <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 />Business Subsidy means the term as defined by Minnesota Statutes, Section 116J.993, <br />Subdivision 3; <br />Business Subsidy Law means Minnesota Statutes, Section 116J.993 through 116J.995; <br />City means the City of Ramsey, Minnesota; <br />County means Anoka County, Minnesota; <br />Developer means Zero Zone Refrigeration, LLC, a Wisconsin limited liability company, <br />its successors and assigns; <br />Development District means Municipal Development District No. 1, including the real <br />property 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 />eans any of the events described in Section 4.1 hereof; <br />Event of Default m <br />Legal and Administrative Expenses means the fees and expenses incurred by the City in <br />connection with the review and analysis of the development proposed under this Agreement with <br />the adoption and administration of the Tax Increment Financing Plan and establishment of the Tax <br />Increment District, the preparation of this Agreement, the issuance of the TIF Note, including, but <br />not limited to, attorney and municipal advisor fees and expenses; <br />Note Payment Date means August 1, 2028, and each February 1 and August 1 thereafter to <br />and including February 1, 2037; provided, that if any such Note Payment Date should not be a <br />Business Day, the Note Payment Date shall be the next succeeding Business Day; <br />2 <br />176531970v1 <br />