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50 "Minimum Improvements Site Plan" means the site plan for the Minimum Improvements, which is included in the Design Drawings attached as Exhibit B. "Minimum Improvements Timeline" means the Minimum Improvements schedule established in Section 7.1. "Mortgage" means any mortgage loan that is secured, in whole or in part, with the Development Property, and which is an approved encumbrance under Article X. "Northern Parcels" means the two parcels of land which comprise the northern portion of the Development Property, as legally described on Exhibit A and depicted on Exhibit B. "Northern Parcel Purchase Agreement" means that purchase and sale agreement between the Developer and the Authority for the Northern Parcels, dated May _, 2012, and attached as Exhibit D. "Preliminary Plarzs" means the preliminary design and architectural plans for the Minimum Improvements submitted by the Developer to the Authority. "PUD Agreement" means the Planned Unit Development Agreement to be negotiated, approved, executed and recorded against the Development Property by the City and the Developer. "Purchase Agreements" means the Northern Parcels Purchase Agreement and the Southern Parcel Purchase Agreement. "Qualified Redevelopment Activities" means a qualified activity under the TIF Act undertaken by the Authority, City or the Developer under this Agreement. The allowable Qualified Redevelopment Activities are set forth in Section 6.1. "Qualified Redevelopment Costs" means a qualified cost under the "TIF Act paid by the Authority or reimbursed by the Authority to the Authority, City or Developer, in any case with reimbursed with Tax Increment funds, payable upon proper certification. "Southern Parcels" means the parcels of land which comprises the southern portion of the Development Property, as legally described on Exhibit A and depicted on Exhibit B. "Southern Parcel Purchase Agreement" means that purchase and sale agreement to be entered into between the Apache Redevelopment, LLC and the Developer for the Southern Parcel, in a form substantially similar to the Northern Parcel Purchase Agreement. "State" means the State of Minnesota. "Tax Increment" means that portion of the ad valorem taxes derived from the Development Property located within the TIF District as computed in accordance with Minnesota Statutes, Section 469.177, as amended or any successor statute, representing the increase in tax capacity over the original net tax capacity, less any deductions allowed or required by the TIF Act.