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of all outstanding Permitted Purchase Money Security Interests may not exceed $50,000. <br /> "Predecessor Bonds"of any particular Bond means every previous Bond evidencing <br /> all or a portion of the same debt as that evidenced by such particular Bond,and for purposes <br /> of this definition,any Bond authenticated and delivered under Section 2.07 of the Indenture <br /> in lieu of a lost,destroyed or stolen Bond shall be deemed to evidence the same debt as the <br /> lost, destroyed or stolen Bond. <br /> "Principal Payment Dates" means for any Series the regularly scheduled dates on <br /> which principal of the Series is due by maturity or sinking fund redemption; for the Series <br /> 2001 Bonds, the Principal Payment Dates are November 1 of each year, commencing on <br /> November 1, 2004. <br /> "Principal Period" means for any Series, the period of time from and including a <br /> Principal Payment Date (or the Date of Issuance, in the case of a Series prior to the first <br /> Principal Payment Date) through and including the day immediately preceding the next <br /> Principal Payment Date. <br /> "Program"means a program within the meaning of the Act authorizing the issuance <br /> of the Series 2001 Bonds. <br /> "Prohibited Costs" means Costs of Issuance and any costs related to an airplane, <br /> skybox or other private luxury box, a facility primarily used for gambling, or a store the <br /> principal business of which is the sale of alcoholic beverages for consumption off premises. <br /> "Project" means the development, design, acquisition, construction, equipping and <br /> financing of a senior multifamily housing facility located on the Land containing 62 units for <br /> independent living by senior residents and related and subordinated facilities thereto. <br /> "Project Buildings"means all improvements or buildings financed in whole or in part <br /> with proceeds of the Bonds or other amounts disbursed under the Loan Agreement or the <br /> Disbursing Agreement and now or hereafter located on the Land, as the same may be <br /> improved or expanded from time to time, and including all related building service <br /> equipment and other fixtures incorporated therein or attached thereto. <br /> "Project Costs"means any of the following that are not Prohibited Costs,to the extent <br /> permitted by the Act: <br /> (a) all Capital Expenditures which the Borrower shall be required to pay <br /> under the terms of any contract or contracts for the development, acquisition, <br /> construction or equipping of the Project Facilities or improving the Land, <br /> (b) all Capital Expenditures of the Borrower incurred for labor and <br /> materials(including labor or materials furnished by the Borrower)in connection with <br /> the acquisition, construction or equipping of the Project Facilities or improving the <br />