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"Project Revenues" means, for a period, as determined in accordance with <br /> generally accepted accounting principles, all operating revenues received by or on behalf of the <br /> Borrower for the ownership, lease or other operation of the Project Facilities, from any source, <br /> including all rent, charges or fees derived from the use or occupancy thereof, and proceeds of <br /> business or rent interruption insurance, excluding security deposits from tenants, proceeds of <br /> insurance (other than from business or rent interruption insurance), interest income, gain from <br /> the sale of any investment, and any item of an extraordinary or nonrecurring nature. <br /> "Repair and Replacement Fund"means the fund so named in Section 4.01 of the Indenture. <br /> "Senior Bonds" means the Series 2001A Bonds and the Series 2001B Bonds. <br /> "Series 2001A Bonds" means the$ in aggregate principal amount of the <br /> City of Orono, Minnesota Senior Housing Revenue Bonds (Orono Woods Apartment Project), <br /> Series 2001A. <br /> "Series 2001B Bonds" means the$ in aggregate principal amount of the <br /> City of Orono, Minnesota Senior Housing Revenue Bonds (Orono Woods Apartment Project), <br /> Taxable Series 2001B. <br /> "Series 2001 Bonds" means the Senior Bonds and the Subordinate Bonds. <br /> "Series 2001 Tax-Exempt Bonds" means the Series 2001A Bonds and the <br /> Subordinate Bonds. <br /> "Short-Term Indebtedness"means any unsecured Indebtedness incurred,assumed <br /> or guaranteed by the Borrower maturing not more than twelve months after it is incurred, but <br /> shall not include Interim Indebtedness,trade accounts payable, accrued payroll or payroll taxes. <br /> "Sole Member"means Wedum Foundation,a Minnesota nonprofit corporation and <br /> 501(c)(3) Organization. <br /> "State" means the State of Minnesota. <br /> "Stated Maturity"when used with respect to any Bonds,means the date specified <br /> in such Bond as the fixed date on which the principal of such Bond is due and payable. <br /> "Subordinate Bonds" means the $ in aggregate principal amount of its <br /> Senior Housing Revenue Bonds(Orono Woods Apartment Project), Subordinate Series 2001 C. <br /> "Subordinate Mortgage"means the Subordinate Combination Mortgage Security <br /> Agreement, Fixture Financing Statement and Assignment of Rents and Leases, dated as of <br /> November 1, 2001, from the Borrower to the City and as assigned to the Trustee as security for <br /> the Subordinate Bonds. <br /> -8- <br />