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County means Sherburne County, Minnesota; <br />Developer means GATR of Sauk Rapids, 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 of an approximate 42,912 square foot full service heavy <br />and medium truck dealership to be located within the 2nd phase of the City's Nature's Edge <br />Business Center located in the City; <br />RAMI Properties means RAN Properties, L.L.C., a Minnesota limited liability company, <br />its successors and 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 Lots 1 and 2, Block 1, 2"d Phase Nature's Edge Business Park, Parcel ID # 75-828- <br />0110. located in the City: <br />Tax Abatements means the City's share of annual real estate taxes on the Tax Abatement <br />Property above the current land value of $7.500. abated in accordance with the Tax Abatement <br />Program. <br />461344v3 JSB ELI SS -32 <br />