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<br />"Business Day" means any day except a Saturday, Sunday or a legal holiday or a day on <br />which ban.kin~ institutions in the City are authorized by law or executive order to close. <br /> <br />"Cash Flow Determination Date" means the first day of the first month that is sixty (60) <br />days after both the Bluff Block Development and the Jackson Block Development are 80% <br />leased and/or sold or such earlier date as the City may require. <br /> <br />"Cash Flow Statement'! means the cash flow statement provided by the Developer <br />pursuant to Section 5.3 and to be attached as Exhibit 0 hereto in substantially the form and <br />content as set forth in Exhibit N hereto, prepared by the Developer setting forth (with respect to <br />units for which leases have been signed) or forecasting (with respect to units for which leases <br />have not yet been signed; provided the Developer may assume up to 7% vacancy) the income, <br />expenses and debt with respect to the Jackson Block Commercial Project and the Jackson Block <br />Housing Project for the first fiscal year commencing on or after the Cash Flow Determination <br />D~ - <br /> <br />"Certificate of Completion" means the -certificate in substantially the form attached <br />hereto as Exhibit D signed by the City Representative certifying completion of the Development. <br /> <br />"City" means the City of Elk River, Minnesota, its successors and assigns. <br /> <br />"City Acquisition Costs" means all costs, expenses, fees and charges incurred by the City <br />associated with the acquisition. by the City of the Bluff Block Property including, but not limited <br />to, payments for just compensation, court filing fees, court-appointed commissioners' fees, <br />appraisal fees and expenses, consultant fees and expenses, attorneys' fees and costs,' Relocation <br />Costs and Expenses fees for service of process and any other cost, expense, fee and/or charge <br />associated with the acquisition of the Bluff Block Property. <br /> <br />"City Council" means the City Council of the City. <br /> <br />"City Documents" means the documents to be executed and/or delivered by the City at <br />the Closing pursuant to Section 3.7(b) of this Agreement. <br /> <br />"City Representative" means the Administrator of the City or his or her designee. <br /> <br />"Closing" means the closing on the conveyance of the Jackson Block Property by the <br />City to the Developer. <br /> <br />"Closing Date" means the date on which the City conveys the Jackson Block Property to <br />the Developer, which date shall be the date the Developer closes on the c.onstruction Loan, or <br />such later date mutually agreed to by the Parties. <br /> <br />"Completion Date" means the date the Certificate of Completion is executed by the City <br />Representative or, with respect to each component or unit of the Minimum Improvements, the <br />date that a comparable certificate of completion is executed with respect to such component or <br />unit. <br /> <br />1674205v9 <br /> <br />4 <br />