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"Project" means the Development Property and the Improvements. <br /> <br />"SoftPac" means SoftPac, Inc., a Minnesota corporation. <br /> <br /> "SoftPac Lease" means that certain lease and/or similar <br />agreement(s) (together with any amendments, supplements or <br />successors thereto) pursuant to which the Company, as lessor <br />thereunder, inter alia, leases the Project to SoftPac, as lessee <br />thereunder, for SoftPac's occupancy and use in its manufacturing <br />and related operations. <br /> <br /> "Tax Increments" means those tax increments generated by the <br />Project which the City shall be entitled to receive and retain, and <br />which the City shall have actually received, from Sherburne County <br />from time to time from the TIF District pursuant to the TIF Act; <br />provided that the term "Tax Increments" shall specifically not <br />include any amounts of tax increment generated by the TIF District <br />which pursuant to the applicable terms of the TIF Act (as it may <br />exist or be amended from time to time) may be required to be paid <br />to or reserved for the State of Minnesota, Sherburne County, or any <br />other entity or official; and "Available Tax Increments" means, as <br />further defined in Section 3.2, the portion of the Tax Increments <br />which shall be available to pay the City's obligations under the <br />TIF Bond. <br /> <br /> "Term" means the period beginning on the date of this <br />Agreement and ending (1) on the date, if any, on which the City <br />shall have paid all amounts payable on the TIF Bond, (2) the last <br />of the scheduled "Payment Dates" defined in the TIF Bond, or (3) on <br />such date (if any) as the City shall have terminated this Agreement <br />pursuant to its terms, whichever shall occur earliest. <br /> <br /> "TIF Act" means the Minnesota Tax Increment Financing Act, <br />that is, Minnesota Statutes, Sections 469.174 through 469.179, as <br />the same may be amended or supplemented. <br /> <br /> "TIF Bond" means the tax increment revenue bond of the City in <br />the form of the attached Exhibit B, as further described in Section <br />3.2. <br /> <br /> "TIF District" means the City's Tax Increment Financing <br />District No. 21 within its Development District No. 1, as the same <br />may be amended. <br /> <br /> "TIF Plan" means the tax increment financing plan for the TIF <br />District, as provided in that certain City document entitled in <br />part "Modifications to the Development Program for Development <br />District No. 1," dated as adopted August 28, 2000, as the same may <br />be amended. <br /> <br /> "Unavoidable Delays" means any delay outside the control of <br />the Party claiming its occurrence which is the direct result of <br /> <br />1198072.2 2 <br /> <br /> <br />