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Development Property is reduced in accordance with Section 3.1(1) hereof, the Project shall be reduced in size and scope in accordance with said Section 3.1(f); and further provided that for the purposes hereof the Project shall also mean and include, all demolition work, debris removal and site preparation and utility work necessary or required before the commencement of the construction of new buildings or improvements on the Development Property; Reimbursable Development Costs means the aggregate of the costs and expenses in excess of $345,000 actually incurred and paid by the Developer for: (i) Land Acquisition Costs, and (ii) those City Costs referred to in subsections (b) through (e) and the last sentence of Section 3.6 hereof, which costs and expenses shall in no event exceed $550,000. Reimbursable Development Costs shall not include Site Improvement Costs; Site Improvements means demolition and removal of all presently existing improvements on the Development Property and the performance of all necessary soil correction and environmental remediation work, if any, on the Development Property; Site Improvement Costs means the cost of performing the Site Improvements; State means the State of Minnesota; Tax Increment Act means Minnesota Statutes, Sections 469.174 through 469.179, as amended; Tax Increment District means Tax Increment Financing District No. 3 -2 located within the Development District, which was qualified as a redevelopment district under the Tax Increment Act; Tax Increment Financing Plan means the tax increment financing plan approved for the Tax Increment District by the City Council on April 28, 1998, as amended from time to time; Tax Increment Note means the Tax Increment Revenue Note (R. J. Marco Construction, Inc. Project) to be executed by the City and delivered to the Developer pursuant to Article III hereof, a copy of which is attached hereto as Exhibit D; 1058683.RED v5 to V4; 7/14/99 4 PAGE 21