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"Tax Increment Act" means the Tax Increment Financing Act, Minnesota Statutes. Sections 469.174-469.179, as amended and as it may be further amended from time to time. "Tax Increment District" means the City's Tax Increment Financing District No. 1-3. "Tax Increment Plan" means the tax increment financing plan adopted by the City in connection with its creation of the Tax Increment District, which plan together with the information and findings contained therein is hereby incorporated herein and made a part hereof by reference. "Title Company" means Commercial Partners Title LLC. "Townhome Available Tax Increment" means one hundred percent (100%) of the Tax Increment received by the City with respect to the Townhome Development Property in the six (6) month period preceding a Scheduled Payment Date under the Townhome Development Agreement after deducting the City's accumulated actual administrative expenses, as defined in the Act, which shall not exceed the lesser of (i) $5,000 in the six (6) month period, or (ii) an amount equal to ten percent (10%) of the Tax Increment generated in the six (6) month period, which amount is to be retained by the City for administrative purposes. "Townhome Developer" means the Townhomes at Town Square LLC, a Minnesota limited liability company, and its permitted successors and assigns. "Townhome Development Property" means the real property legally described on the attached Schedule D. "Townhome Minimum Improvements" means 14 townhouses for sale to owner- occupants to be built on the Townhome Development Property. • "Town Square Site" means the real property depicted on Schedule B attached hereto to be known as "Falcon Heights Town Square" which includes the Multifamily Development Property, the Senior Development Property and the Townhome Development Property. "Unavoidable Delays" means delays in the performance of obligations relating to the construction of the Minimum Improvements due to unforeseeable causes beyond the control of the Multifamily Developer, including but not limited to causes which are the result of acts of God, acts of the public enemy, acts of terrorism, unforeseen adverse weather conditions, strikes, other labor troubles, fire or other casualty to the Minimum Improvements, litigation commenced by third parties which, by injunction or other similar judicial action, results in delays, acts of any federal, state or local governmental unit, and which directly results in delays, delays in delivery of materials for the Minimum Improvements or soil conditions of the Multifamily Development Property. ARTICLE II Representations