05-13-2020 Council Packet - Laserfiche WebLink

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12316323v3 7 Trustee with an opportunity to cure any such default, (vi) purchase money security interests granted in connection with the acquisition of Project Equipment, (vii) any intercreditor and parity agreement entered into pursuant to Section 6.11 hereof, and (viii) those additional encumbrances identified in Exhibit B to the Mortgage. "Prior Note" means the City of Little Canada, Minnesota $11,970,000 Health Care Facilities Revenue Note (Langton Place Project) Series 2018, currently outstanding in the aggregate amount of $11,970,000. "Project" means the 2018 Project and 2020 Project collectively, as further described in Section 1.03 hereof. "Project Account" refers to each of the 2018 Project Account and the 2020 Project Account established within the Project Fund, in accordance with the Indenture and this Loan Agreement. "Project Buildings" means each of the buildings currently located on the Land, and all other improvements or buildings now or hereafter located on the Land, as the same may be improved or expanded from time to time, and including all building service equipment and other fixtures incorporated therein or attached thereto, subject to the provisions of Section 5.05 hereof providing for the removal of Project Buildings in accordance therewith. "Project Costs" mean the costs defined as such in Section 4.03 of the Indenture. "Project Equipment" means all those items of furnishings, furniture, equipment, and other tangible personal property located in the Project Buildings or otherwise on the Land, subject to the provisions of Section 5.07 providing for the removal of Project Equipment in accordance therewith. "Project Facilities" means the Land, the Project Buildings and the Project Equipment, all as the same may at any time exist, subject to the provisions of Sections 5.07 and 5.08 hereof providing for the release of property. "Project Fund" means the Project Fund established under Section 4.02 of the Indenture. "Qualified Investments" means investments authorized by the Act and described in Section 5.04 of the Indenture. "R&R Reserve" means the Repair and Replacement Reserve Fund established under Section 5.04 of the Indenture. "R&R Reserve Requirement" means, whenever used in connection with the R&R Reserve, an amount equal to $200,000. "Redeem" or "redemption" means "prepay" or "prepayment" as the case may be. "Reserve Fund" means the Reserve Fund established under Section 5.03 of the Indenture.