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12-06-1995 Council Agenda
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12-06-1995 Council Agenda
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304291.2 <br />"GAAP" means generally accepted accounting principals consistently applied <br />and maintained throughout the period indicated and consistent with the financial <br />statements described in Section 6 hereof except for changes mandated by the <br />Financial Accounting Standards Board or any similar accounting authority of <br />comparable standing. <br />"Guarantor" and "Guarantors" mean, individually, Robert Grootwassink or <br />Mark Hotzler and, collectively, Robert Grootwassink and Mark Hotzler. <br />"Guaranty" means those certain Guaranties of even date herewith executed by <br />Guarantors in favor of EDA as the same may be amended, supplemented, modified <br />or restated from time to time. <br />"Hazardous Substances" means any substance, waste, pollutant or contaminant <br />now or hereafter included within such term or any such similar term under any <br />federal, state or local statute, ordinance, code or regulation now existing or hereafter <br />enacted or amended. <br />"Initial Advance shall have the meaning assigned to it in Section 5.1. <br />"Land" means certain real estate located in Ramsey County, Minnesota legally <br />described on Exhibit A hereto. <br />"Lease" and "Leases" means any or more of those certain Leases described on <br />Exhibit B. <br />"Lease Subordination Agreements" means Subordination, Nondisturbance and <br />Attornment Agreements by and between the EDA and each of the Tenants. <br />"Lease Estoppel Certificates" means estoppel certificates which each of the <br />Tenants provide to the EDA. <br />"Loan" shall have the meaning set forth in the Recitals hereto. <br />"Loan Documents" means this Loan Agreement, the Note, the Mortgage, the <br />Financing Statement, the Guaranties, the Lease Subordination Agreements, the Lease <br />Estoppel Certificates, the Environmental Indemnity Agreement,'the Environmental <br />Report, the Development Agreement and any and all renewals, extensions, and <br />amendments of any of those documents. <br />"Loan Origination Fee" means the fee payable to the EDA in connection with <br />the Loan as required by Section 4.2 of this Agreement. <br />"Mortgage" means that certain Combination Mortgage, Assignment of Rents <br />and Profits, Security Agreement and Fixture Financing Statement of even date <br />Page 5 <br />
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