8.3 SR 04-04-2022 - Laserfiche WebLink

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conforms to applicable zoning, subdivision and building code laws and ordinances, including a copy of the building permit for the Project; and (b) A copy of the executed standard form of agreement between owner and architect for architectural services for the Project, if any; Construction Plans means the plans, specifications, drawings and related Construction Documents for the construction of the Project which shall be as detailed as the plans, specifications, drawings and related Construction Documents which are submitted to the building inspector of the City; County means Sherburne County, Minnesota; Declaration means the Declaration of Restrictive Covenants in substantially the form attached hereto as Exhibit F; Design Drawings means the floor plans, renderings, elevations and material specifications for the Project to be prepared by the Architect and attached hereto as Exhibit I; Developer means Jackson Street Apartments, LLC, a Minnesota limited liability company, and its authorized successors and assigns; Development Property means the real property legally described in Exhibit B attached to this Agreement; Event of Default means any of the events described in Section 4.1 hereof, Final Payment Date means the earlier of (i) the date on which the entire principal and accrued interest on the TIF Note has been paid in full; or (ii) February 1, 2041; or (iii) any earlier date this Agreement or the TIF Note is cancelled in accordance with the terms hereof or deemed paid in full; or (iv) the February 1 following the date the TIF District is terminated in accordance with the TIF Act; Geotechnical Report means Project 19-406 Report of Geotechnical Explorations for Jackson Hills Residential Suites, Phases II — IV, Elk River, Minnesota, dated March 2, 2020, prepared for the Briggs Companies by Independent Testing Technologies, Inc., attached hereto as Exhibit G. Payment Date means August 1, 2026 and each February 1 and August 1 thereafter to and including the Final Payment Date; provided, that if any such Payment Date should not be a Business Day, the Payment Date shall be the next succeeding Business Day; Pledged Tax Increments means for any six month period, 90% of the Available Tax Increments received by the City since the last Payment Date; Project means soil correction and soil remediation of the Development Property and the construction thereon of an approximately 44-unit affordable multifamily rental housing development with a mix of studio, 1, 2 and 3-bedroom units and all related amenities and improvements, to be completed, owned and operated by the Developer; EL185-70-769416.d7