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05-19-99 13:42 From-KENNEDY A GRAVEN +6123379310 T-806 P.04/31 F-170 AGREEMENT 1.0. Definitions. In this Agreement, unless a different meaning clearly appears from the context: (a) "Agreement" means this Agreement, as the same may be from time to time modified, amended,or supplemented. (b) "Authority" means the Mounds View Economic Development Authority. (c) "Certificate of Completion" means the certification provided to the Developer, substantially in the form attached as Exhibit B to this Agreement, pursuant to Section 20 of this Agreement. (d) "City"means the City of Mounds View,Minnesota. (e) "Construction Plans" means the plans, specifications, drawings and related documents on the construction wort;to be performed on the Property which (a) shall be as detailed as the plans, specifications, drawings and related documents which are submitted to the appropriate building officials of the Authority, and (b) shall include at least the following: (1) foundation plan; (2) basement plans; (3) floor plan for each floor; (4) cross sections of each (length and width); and (5) elevations(all sides). (f) "County" means the County of Ramsey,Minnesota. (g) "Developer" means Marquis Builders, Inc., or its permitted successors and assigns. (h) "Event of Default" means an action by the Developer listed in Section 17 of this Agreement. (i) "Holder" means the owner of a Mortgage. (j) "Material" means any effect or change which sirificantly alters the intended use of the Property, or increases or decreases the costs of any individual item of the Minimum Improvements by more than$2,500. (k) "Minimum Improvements"means the construction of a 1600 sq. ft. three bedroom,single story walkout,single family residential home, including two full bathrooms and a three car garage,with an estimated market value of $184,500.00. (I) "Mortgage" means any mortgage made by the Developer which is DIG-162543 2 MU20S-2