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Developer means Badger Ventures, LLC, a Minnesota limited liability company, its <br />successors and assigns; <br /> <br /> Event of Default means any of the events described in Section 4.1; <br /> <br /> Project means the construction by the Developer of an approximately 13,000 square foot <br />light manufacturing facility to be located in the City; <br /> <br /> State means the State of Minnesota; <br /> <br /> Tax Abatement Act means Minnesota Statutes, Sections 469.1812 through 469.1815; <br /> <br /> Tax Abatement Program means the actions by the City pursuant to Minnesota Statutes, <br />Section 469.1812 through 469.1815, as amended, and undertaken in support of the Project; <br /> <br />Tax Abatement Property means the real property identified as <br /> , Elk River Business Park, located in the City; <br /> <br />Tax Abatements means 100% of the City's share of real estate taxes on the Tax <br /> <br />Abatement Property abated in accordance with the Tax Abatement Program. <br /> <br />1630424v2 2 <br /> <br /> <br />