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12-06-1995 Council Agenda
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12-06-1995 Council Agenda
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herewith executed by Developer in favor of the EDA as the same may hereafter be <br />amended, modified, extended or restated from time to time. <br />"Note" means that certain Promissory Note of even date herewith made <br />payable to the order of the EDA in the face principal amount of $1,900,000 together <br />with all amendments, modifications, extensions or renewals thereof or substitutes <br />therefor from time to time. <br />"Permitted Encumbrances" means those encumbrances specifically approved <br />by the EDA and set forth on Exhibit B. <br />"Person" means any natural person, corporation, partnership, limited <br />partnership, joint venture, limited liability company, firm, association, trust, <br />unincorporated organization, government, government entity or any other entity, <br />whether acting as an individual, fiduciary or in any other capacity. <br />"Phase I Environmental Report" means that certain Phase I Environmental <br />Report dated [date] addressed to Developer and EDA. <br />Plans. <br />304291.2 <br />"Plans" means the Rehabilitation Work Plans and the Enhancement Work <br />"Project" means collectively the Land, all Existing Improvements, the Work <br />and all additions, modifications, improvements, replacements and substitutions made <br />thereto. <br />"Rehabilitation Work" means the work initially described on the attached <br />Exhibit D and subsequently described in greater detail in the Rehabilitation Work <br />plans. <br />"Rehabilitation Work Construction Contracts" mean all contracts between <br />Developer and contractors for the Rehabilitation Work. <br />"Rehabilitation Work Construction Timetable" means a written timetable <br />stating the estimated dates by which the Rehabilitation Work will be twenty -five <br />percent (25 %), fifty percent (50 %), seventy -five percent (75%) and substantially <br />complete. <br />"Rehabilitation Work Plans" means the drawings and specifications which <br />Developer submits to the EDA before commencement of the Rehabilitation Work <br />pursuant to section <br />"Survey" means a survey prepared by a registered land surveyor and certified <br />to Developer, EDA, Contractor and Title containing a legal description conforming <br />to the legal description contained in the Title Commitment and the Mortgage, <br />Page 6 <br />
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