10-08-2001 Council Packet - Laserfiche WebLink

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ARI ICLi: 1. l)i:MNI HONS. l:XniBITS. RIJLKS OF INI RRPREIATION Scclion I.I Definitions. In this Agreement, the following terms have the following respective meanings unless the context hereof clearly requires otherwise: (a) Acts. Minnesota Statutes, Sections 469.001 through 469.047 and 469.174 through 469.179. hereto. (b) Certificate of Completion. The certificate of completion set forth in Exhibit D (c) City . The City of Orono, Hennepin County, Minnesota. (d) Completion Year. The earlier of (1) the year 2002 and (2) the year (if any) in which the Certificate of Completion for the Improvements is issued. (e) Developer. Orono Senior Housing, LLC, a Minnesota limited liability company, its successors and assigns. (0 Development. 'Hie Development Property and the Improvements to be constructed thereon by the Developer in accordance with the terms of this Agreement, as they may at any time exist. (g) Development Property. The real property which is the site of the lmpro\ements, as legally described in Exhibit A hereto. (h) Event of Default. An Event of Default, as defined in Section 7,1. (i) Financing Documents. The following documents to be executed and delivered in connection with the issuance and sale of the Housing Bonds and the Subordinate Housing Note: _______________________________________. (j) Ground Lease. The Ground I.ease attached as Exhibit B hereto, as the same may be amended from time to time. (k) Housing Bonds. The Multifamily Senior Housing Revenue Bon is (Orono Woods Project), Scries 2001 A and the Taxable Multi family Senior Housing Revenue Bonds, Scries 200 IB to be issued pursuant to Section 3.1 hereof and the Financing Documents. (l) Housing Plan. The development program for the I IRA’s I lousing Project Area No. 1, which contains the TIF District.