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ARTICLE I DEFINITIONS Section 1.1 Definitions. All capitalized terms used and not otherwise defined herein shall have the following meanings unless a different meaning clearly appears from the context: Agreement means this Agreement, as the same may be from time to time modified, amended or supplemented; Agreement Termination Date means the date of expiration of this Agreement on the earlier of (i) February 1, 2026 or (ii) the date on which the Tax Increment District expires or is otherwise terminated or (iii) the date on which this Agreement is terminated in accordance with its terms; Assessment Agreement means the agreement, in the form of the agreement contained in Exhibit A attached hereto and made a part of this Agreement, between the Developer and the City and including the attached certification by the Assessor for the County, entered into pursuant to Section 4.1 of this Agreement; Assessment Agreement Termination Date means the date of expiration of this Agreement and the Assessment Agreement on the earlier of (i) December 31, 2025 or (ii) the date on which the Tax Increment District expires or is otherwise terminated or (iii) the date on which the principal of and interest on the Bonds has been paid in full; Assessor's Minimum Market Value means the agreed minimum market value of the Development Property and the Project for calculation of real property taxes as determined by the assessor for the County of $19,000,000 as of January 2, 2010 and as further set forth in the Assessment Agreement; Available Tax Increments means the tax increments derived from the Development Property which have been received and retained by the City in accordance with the provisions of Minnesota Statutes, Section 469.177 after (a) payment of the Bonds in full, (b) the City has fully reimbursed itself from Tax Increments for any chi- fferenee -- between- the -i hase III-Shortfal-1 -and -the -Phase -I-II- Deposit AmettntCity Phase III Shortfall Amount and (c) payment of the Guaranty Note in full; Bonds means the General Obligation Bonds, Series 2008A to -be -- issued by the City the proceeds of which will be used to finance a portion of the Public Improvement Expenses and certain legal, administrative and issuance expenses; the term shall also include any bonds or obligations issued or City internal funding sources directly related to refunding the General Obligation Bonds Series 2008Abends -er hligabiens er funding- using- Gity-tntemef funding sources; Business Day means any day except a Saturday, Sunday or a legal holiday or a day on which banking institutions in the City are authorized by law or executive order to close; 2139197v6 2 Doc# 2561638 \9