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including a copy of the building permit for the Project; and (b) A copy of the executed standard <br />form of agreement between owner and architect for architectural services for the Project, if any; <br />Construction Plans means the plans, specifications, drawings and related Construction <br />Documents for the construction of the Project which shall be as detailed as the plans, <br />specifications, drawings and related Construction Documents which are submitted to the building <br />inspector of the City; <br />County means Sherburne County, Minnesota; <br />Declaration means the Declaration of Restrictive Covenants in substantially the form <br />attached hereto as Exhibit F; <br />Design Drawings means the floor plans, renderings, elevations and material <br />specifications for the Project to be prepared by the Architect; <br />Developer means Jackson Hills Residential Suites, LLC, a Minnesota limited liability <br />company, and its authorized successors and assigns; <br />Development Property means the real property legally described in Exhibit B attached to <br />this Agreement; <br />Event of Default means any of the events described in Section 4.1 hereof, <br />Final Payment Date means the earlier of (i) the date on which the entire principal and <br />accrued interest on the TIF Note has been paid in full; or (ii) February 1, 2036; or (iii) or any <br />earlier date this Agreement or the TIF Note is cancelled in accordance with the terms hereof or <br />deemed paid in full; or (iv) the February 1 following the date the TIF District is terminated in <br />accordance with the TIF Act; <br />Geotechnical Report means the Project 17-004 Report of Geotechnical Explorations, <br />dated February 21, 2017, prepared for the Briggs Companies by Independent Testing <br />Technologies, Inc., attached hereto as Exhibit G. <br />Payment Date means August 1, 2021 and each February I and August 1 thereafter to and <br />including the Final Payment Date; provided, that if any such Payment Date should not be a <br />Business Day, the Payment Date shall be the next succeeding Business Day; <br />Pledged Tax Increments means for any six month period, 90% of the Available Tax <br />Increments received by the City since the last Payment Date; <br />Project means the construction of an approximately 40 -unit affordable multifamily rental <br />housing development and all related amenities and improvements, to be completed, owned and <br />operated by the Developer on the Development Property; <br />Public Development Costs means the Public Development Costs of the Project identified <br />on Exhibit C attached hereto and any other cost incurred by the Developer, or its assigns, that <br />the City determines is eligible for reimbursement with Pledged Tax Increments; <br />519394v8 JSB EL185-49 <br />