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"Developers" means collectively, the Multifamily Developer, the Senior Developer and • the Townhome Developer. Environmental Laws" means all present or future laws, statutes, treaties, rules, regulations, orders, ordinances, permits, licenses, judgments or decrees enacted by any Governmental Authority to regulate any materials, wastes and/or substances in the environment. "Event of Default" means an action by the Multifamily Developer listed in Article IX of this Agreement. "First Mortgage Lender" means Glaser Financial Group, Inc. "First Mortgage Loan" means a loan from the First Mortgage Lender and insured by the Federal Housing Administration of HUD pursuant to Section 221(d)(4) of the National Housing Act of 1984, as amended, and the regulations thereunder. "Governmental Authority" means the United States Environmental Protection Agency, the United States Department of Labor, the United States Department of Transportation, or any other local, state or federal government authority. "Hazardous Material" means any substance, waste, or material now or hereafter determined by any Governmental Authority to pose a risk of injury to health, safety and/or properly, including but not limited to (i) all materials, wastes and substances now or hereafter designated as hazardous or toxic by any Govemmental Authority, (ii) all materials, wastes and substances now or hereafter designated or defined as hazardous, extremely hazardous or toxic pursuant to the Comprehensive Environmental Response, Compensation and Liability Act (42 U.S.C. 9601, et seq.), the Resource Conservation and Recovery Act (42 U.S.C. 6901 et seq.), or any other Environmental Laws, and (iii) asbestos, urea formaldehyde, polychlorinated biphenyls, . and petroleum products. "HUD" means the Department of Housing and Urban Development. "Maturity Date" means the date that the Tax Increment District is terminated. "Met Council LCDA Funds" means the funds in the total amount of $1,000,000, awarded to the City by the Metropolitan Council for the redevelopment of the Town Square Site. "Minimum Improvements" means the improvements to be constructed by the Multifamily Developer on the Multifamily Development Property consisting of the Commercial Component, the Multifamily Component, and the Parking Component. "Mortgage" means any mortgage loan to the Multifamily Developer that is secured, in whole or in part, with the Minimum Improvements and the Multifamily Development Property.