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(n) Improvements . Ilic 62-unit apartment building and appurtenant <br />facilities described in the PUD Agreement. <br />(o) Morteaee and Holder . The term “Mortgage" shall include the <br />mortgages referenced in Article V of this Agreement and any other instrurient <br />creating an encumbrance or lien upon the Development or any part thereof as security <br />for a loan, llte term “Holder" in reference to a Nlortgage 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 l-ncumbranccs. 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 . Tiie 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 w ith 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 />developtnent, supervisoiy and other services; land, labor, serN'ices and <br />materials and recording of documents and title w ork. <br />(b) Premiums attributable to any surely 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 engra\ ing fees, <br />charges a* ’ expenses and all other such fees, charges and expenses incurred in <br />connection w ith the authorization, sale, issuance and delivery of the Hou.sing <br />Bonds and Subordinate Housing Note including, w ithout limitation, the tecs <br />and expenses of the City and HRA and the fees and expenses of the trustee, the