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(n) Improvements. The 62-unit apartment building and appurtenant <br /> facilities described in the PUD Agreement. <br /> (o) Mortgage and Holder. The term"Mortgage" shall include the <br /> mortgages referenced in Article V of this Agreement and any other instrument <br /> creating an encumbrance or lien upon the Development or any part thereof as security <br /> for a loan. The term "Holder" in reference to a Mortgage includes any insurer or <br /> guarantor (other than the Developer) of any obligation or condition secured by such <br /> Mortgage or deed of trust. <br /> (p) Permitted Encumbrances. The encumbrances on the Development <br /> Property which are permitted to exist and the time the Development Property is <br /> conveyed to the HRA, which encumbrances shall consist only of <br /> and such other encumbrances as the City and HRA <br /> may approve in writing. <br /> (q) Project. The Development Property and the Improvements to be <br /> constructed thereon pursuant to this Agreement. <br /> (r) Project Costs. Project Costs means: <br /> (a) Costs incurred directly or indirectly for or in connection with the <br /> acquisition, construction, installation or equipping of the Project, including <br /> other costs incurred in respect of the Project for preliminary planning and <br /> studies; architectural, legal, engineering, account accounting, consulting, <br /> development, supervisory and other services; land, labor, services and <br /> materials and recording of documents and title work. <br /> (b) Premiums attributable to any surety bonds and insurance <br /> required to be taken out and maintained during the construction period with <br /> respect to the Development Property and the Improvements. <br /> (c) Taxes, assessments and other governmental charges in respect of <br /> the Project that may become due and payable during the construction period. <br /> (d) Costs incurred directly or indirectly in seeking to enforce any <br /> remedy against any contractor or subcontractor in respect of any actual or <br /> claimed default under any contract relating to the Improvements. <br /> (e) Financial, legal, accounting, printing and engraving fees, <br /> charges and expenses and all other such fees, charges and expenses incurred in <br /> connection with the authorization, sale, issuance and delivery of the Housing <br /> Bonds and Subordinate Housing Note including, without limitation, the fees <br /> and expenses of the City and HRA and the fees and expenses of the trustee, the <br />