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ARTICLE I <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 />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 />County means Ramsey County, Minnesota; <br />Developer means International Union of Painters and Allied Trades Council 82 Building <br />Corporation, Inc., a Minnesota Corporation, its successors and assigns; <br />Development Agreement means the Development Agreement, dated as of August 13, <br />2003, between the City and the Developer, as the same may be from time to time modified, <br />amended or supplemented; <br />Development Property means the real property legally described in Exhibit A attached to <br />the Development Agreement; <br />Event of Default means any of the events described in Section 4.1 hereof; <br />Legal and Administrative Expenses means the fees and expenses incurred by the City in <br />connection with the preparation of this Agreement; <br />Payment Date means May 1 and October 1 of each year commencing on May 1, 2013 <br />through October 1, 2022, provided that if any such Payment Date should not be a Business Day, <br />the Payment Date shall be the next succeeding Business Day; <br />Pilot Agreement means this Payment in Lieu of Taxes Agreement executed by the <br />Developer and the City; <br />Premises means the real property legally described on Exhibit A attached hereto; <br />State means the State of Minnesota. <br />2 <br />4626500v1 <br />