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ARTICLE I <br />DEFINITIONS <br />Section 1.1. Definitions. All capitalized terms used and not otherwise defined <br />herein shall have the following meanings unless a different meaning clearly appears from <br />the context: <br />Agreement means this Agreement, as the same may be from time to time modified, <br />amended or supplemented; <br />Business Day means any day except a Saturday, Sunday or a legal holiday or a day <br />on which banking institutions in the City are authorized by law or executive order to <br />close; <br />City means the City of Little Canada, Minnesota; <br />City Costs means the $15,000 of expenses (consultant fees and staff time) incurred <br />by the City in establishing this development program that are to be reimbursed by the <br />Developer upon execution of this agreement. <br />County means Ramsey County, Minnesota; <br />Developer means Masterpiece Homes, Inc., its successors and assigns; <br />Development District means the real property described in the Development <br />Program; <br />Development Program means the development program approved in connection <br />with the Development District; <br />Development Property means the real property legally described in Exhibit A <br />attached to this Agreement; <br />Event of Default means any of the events described in Section 4.1 hereof; <br />Note Payment Date means August 1, 2002, and each February 1 and August 1 of <br />each year thereafter to and including August 1, 2010; provided, that if any such Note <br />Payment Date should not be a Business Day, the Note Payment Date shall be the next <br />succeeding Business Day; <br />1160667.1 <br />Page 216 <br />