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11-14-01 2. LOAN AGREEMENT
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2040 Wayzata Boulevard West - 34-118-23-21-0036 - (Orono HRA)
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2040 Wayzata Blvd Land Use - Dunbar
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Dunbar Sr. Hsg. - Finance Doc's - Mike Gaffron File Cabinet 1
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11-14-01 2. LOAN AGREEMENT
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Last modified
8/22/2023 4:55:35 PM
Creation date
10/4/2021 9:57:01 AM
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x Address Old
House Number
2040
Street Name
Wayzata
Street Type
Boulevard
Street Direction
West
Address
2040 Wayzata Boulevard West
Document Type
Land Use
PIN
3411823210036
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"Fiscal Year" means the fiscal year of the Borrower designated from time to time <br /> in writing to the Trustee,and shall initially mean the 12-month period commencing each January <br /> 1. <br /> "501(c)(3)Organization"means an organization described in Section 501(c)(3)of <br /> the Code whose income is exempt from taxation under Section 501(a) of the Code. <br /> "Force Majeure" means any one or more of the following: acts of God; strikes, <br /> lockouts or other economic disturbances; acts of public enemies;orders or restraints of any kind <br /> of the government of the United States or of the State or any of their departments, agencies, or <br /> officials, or any civil or military authority; insurrections; riots; landslides; earthquakes; fires; <br /> storms; droughts, floods or other adverse weather conditions; explosions;breakages or accident <br /> to machinery, transmission pipes or canals; temporary inability to obtain supplies or materials <br /> or governmental permits or licenses (other than licenses and permits necessary to commence <br /> construction of the Project); or any other cause or event not reasonably within the control of the <br /> Borrower. <br /> "Governmental Unit" means any state or any political subdivision of a state. <br /> "Gross Revenues" means, for any period, (i) all Project Revenues, (ii) all <br /> investment income of the Borrower or on amounts held by the Trustee(other than in the Project <br /> Fund or the Rebate Fund) under the terms of this Indenture, (iii) all contributions to the <br /> Borrower that are available to pay all principal and interest on all Indebtedness of the Borrower <br /> and all Operating Expenses, (iv) all Tax Increment Revenues received from the City under the <br /> Tax Increment Note or from any other source, and (v) all other non-operating income of the <br /> Borrower, excluding unrealized gains on investments, income from the forgiveness of <br /> Indebtedness, proceeds of any borrowing, proceeds from the sale of any asset not occurring in <br /> the ordinary course of business, and any item of an extraordinary or nonrecurring nature. <br /> "Ground Lease" means the Ground Lease between the Borrower and the Orono <br /> Housing and Redevelopment Authority(the "HRA"), dated as of November 1, 2001, by which <br /> the HRA has conveyed a leasehold interest in the Land to the Borrower. <br /> "Improvements" means any additions, enlargements, improvements, extensions, <br /> alterations, or renovations of or to the Project Facilities as they then exist, and any fixtures, <br /> structures or other facilities acquired or constructed by the Borrower and located on the Land. <br /> "Indebtedness" means (i) all indebtedness,whether or not represented by bonds, <br /> debentures,notes or other securities,for the repayment of money borrowed,(ii)all indebtedness <br /> for the payment of the purchase price of property or assets purchased, (iii) all guaranties, <br /> endorsements, assumptions and other contingent obligations with respect to, or to purchase or <br /> to otherwise acquire, indebtedness of others, (iv) all indebtedness secured by any mortgage, <br /> pledge or lien existing on property owned, subject to such mortgage,pledge or lien,whether or <br /> not indebtedness secured thereby shall have been assumed, and (v) installment purchase <br /> contracts, loans secured by purchase money security interests, lease-purchase agreements or <br /> -4- <br />
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