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135341328v1 <br /> <br /> 2 <br /> <br />ARTICLE I. <br /> <br />DEFINITIONS <br />Section 1.1 Definitions. All capitalized terms used and not otherwise defined herein <br />shall have the following meanings unless a different meaning clearly appears from the context: <br />Agreement means this TIF Development Agreement, as the same may be from time to <br />time modified, amended or supplemented; <br />Business Day means any day except a Saturday, Sunday or a legal holiday or a day on <br />which banking institutions in the City are authorized by law or executive order to close; <br />City means the City of Little Canada, Minnesota; <br />Compliance Certificate means the Compliance Certificate in substantially the form <br />attached hereto as Exhibit D; <br />County means Ramsey County, Minnesota; <br />Developer means the Ride Limited Partnership and its successors and assigns; <br />Development District means Municipal Development District No. 7 heretofore <br />established, including the real property described in the Development Program; <br />Development Program means the development program approved in connection with the <br />Development District; <br />Development Property means the real property described in Exhibit A attached to this <br />Agreement; <br />Event of Default means any of the events described in Section 4.1 hereof; <br />Grant means the grant awarded to the Developer from the Metropolitan Council Livable <br />Communities Demonstration Account; <br />Legal and Administrative Expenses means the fees and expenses incurred by the City in <br />connection review and analysis of the development proposed under this Agreement with the <br />adoption and administration of the Tax Increment Financing Plan and establishment of the Tax <br />Increment District, the preparation of this Agreement and the issuance of the TIF Note including, <br />but not limited to, attorney and municipal advisor fees and expenses; <br />Note Payment Date means August 1, 2027, and each February 1 and August 1 of each <br />year thereafter to and including February 1, 2053; provided, that if any such Note Payment Date <br />should not be a Business Day, the Note Payment Date shall be the next succeeding Business <br />Day;