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"Permitted Encumbrancea" means the encumbrances described in Schedule E <br />of this Agreement. <br />"Phase" means a separate, segmented stage of the development of the <br />Minimum Improvements on the Redevelopment Property, consisting of specific <br />Minimum <br />in Section improvements to <br />of this Agreement. <br />cifisParcel of the Redevelopment Poperty, all as <br />prov4. <br />"Program" means the Development Program adopted by the City in <br />connection with the creation of the Development District, as it may be amended <br />or modified from time to time. <br />"Public Improvements" means the improvements to be constructed pursuant <br />to Section 3.5 of this Agreement in connection with the Redeveloper's development <br />of the Minimum Improvements hereunder. <br />"Redemption Date" raeans the earliest date on which any Bonds may be <br />redeemed and paid prior to full maturity. <br />"Redeveloper" means collectively Everest Development, Ltd., a Minnesota <br />corporation, and Commercial Property investments, inc., a Minnesota corporation, <br />and their successors or assigns. <br />"Redevelopment Property" neans the real property upon which the Minimum <br />improvements are to be constructed, which real property is described on Schedule <br />A of this Agreement. <br />"plan:: means, coilectively, the tex increment financing plan and <br />development isadethe inlrespectively.connection <br />tcreation of <br />he Tax IncrementDitrictnthe Development District, <br />"Redevelopment Property Deed" means a quit claim deed, substantially in <br />of <br />Redevelopmenthep Property, or each <br />BParcel 1 thereof, m from usthe ed t convey deed In Cityto the <br />Redeveloper. <br />"Site Plan" means the plan attached hereto as Schedule H showing the <br />proposed nature and location of the Minimum Improvements. <br />"State" means the State of Minnesota. <br />"Tax Increment" means that portion of the real estate taxes paid with <br />respect to the Redevelopment Property which is remitted to the City as tax <br />increment pursuant to the Tax increment Act. <br />"Tax Increment Act" means the Tax Increment Financing Act, Minnesota <br />Statutes, Sections 469.174 to 469.179, as amended and as It may be amended. <br />"Tax increment District" means the Tax Increment Financing District <br />created by the Council within the Development District through Its adoption on <br />September 22, 1986, of a tax increment financing plan pursuant to the Tax <br />Increment Act. <br />