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County means Sherburne County, Minnesota; <br />Developer means Apex Embroidery Design, Inc., a Minnesota corporation, its successors <br />and assigns; <br />Event of Default means any of the events described in Section 4.1; <br />Project means the construction and equipping of an approximately 13,312 square foot <br />manufacturing facility to be owned by SBH Properties and leased to the Developer for use in its <br />apparel decorating business located in the City; <br />SBH Properties means SBH Properties, LLC, a Minnesota limited liability company, its <br />successors or assigns; <br />State means the State of Minnesota; <br />Tax Abatement Act means Minnesota Statutes, Sections 469.1812 through 469.1815; <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 />Tax Abatement Property means all and any portion of the real property currently <br />identified as Parcel Identification Number 758110125, Lot 5, Block 1, Renner Fourth Addition, <br />Sherburne County, Minnesota, located in the City; <br />Tax Abatements means the City's share of annual real estate taxes on the Tax Abatement <br />Property, abated in accordance with the Tax Abatement Program. <br />2 <br />487587v2 JSB EL185 -45 <br />