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City means the City of Elk River, Minnesota; <br />County means Sherburne County, Minnesota; <br />Developer means Metal Craft Machine & Engineering, Inc., a Minnesota corporation, its <br />successors and assigns; <br />Event of Default means any of the events described in Section 4.1; <br />Tax Abatement Program means the Statutes, <br />Section 469.1812 through 469.1815, as <br />60,000 square footProiectmeanstheconstructionbytheDeveloperofan <br />light industrial facility to be located in the City; <br />State means the State of Minnesota; <br />Tax Abatement Act means Minnesota <br />Tax Abatement Property property currently <br />identified as Parcel Identification <br />Tax Abatements means 100% taxes on the Tax <br />Abatement Property abated in accordance <br />2045533v2 2