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City means the City of Elk River, Minnesota, <br />County means Sherburne County, Minnesota; <br />Developer means Mowry Properties, LLC, a Minnesota limited liability company, its <br />successors and assigns; <br />Event of Default means any of the events described in Section 4.1; <br />Project means the construction by the Developer of an approximately 60,000 square foot <br />light industrial facility to be located in the City; <br />State means the State of Minnesota: <br />Tax Abatement Act means Minnesota Statutes, Sections 469.1812 through 469.181 5, <br />Tax Abatement Pro --ram means the actions by the City pursuant to Minnesota Statutes, <br />Section 469.1812 through 469.181 5, 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 73-131-4100. located in the City, <br />Tax Abatements means 100% of the City's share of real estate taxes on the Tax <br />Abatement Property abated in accordance with the Tax Abatement Program. <br />2045533A 2 <br />