7.5 SR 06-17-2024 - Laserfiche WebLink

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ARTICLE I DEFINITIONS Section 1.1 Definitions. All capitalized terms used and not otherwise defined herein shall have the following meanings unless a different meaning clearly applies from the context: Agreement means this Development Assistance Agreement, as the same may be from time to time modified, amended or supplemented; Assessment Agreement means the agreement between the City and Developer in substantially the form attached hereto as Exhibit E; Benefit Date means the date on which a Certificate of Occupancy for the Project is issued by the City; Business Day means any day other than Saturdays, Sundays and any "legal holiday", which shall mean any state or federal holiday for which financial institutions or post offices are generally closed in the State of Minnesota for observance thereof. If any date herein set forth for the performance of any obligations by a party hereto or for the delivery of any instrument or notice as herein provided should be on a Saturday, Sunday or legal holiday, the compliance with such obligations or delivery shall ipso facto be extended to the next business day following such Saturday, Sunday or legal holiday; Business Subsidy Act means Minnesota Statutes, Sections 116J.993 to 116J.995, as amended; Certificate of Completion means the certification in the form of the certificate attached hereto as Exhibit C and made a part of this Agreement, provided to the Developer, pursuant to Section 3.5 of this Agreement; Construction Plans means the plans, specifications, drawings and related documents of the construction work to be performed by the Developer on the Project and the Development Property which (a) shall be as detailed as the plans, specifications drawings and related documents which are submitted to the appropriate building officials of the City, and (b) shall include at least the following for each building: (1) site plan; (2) foundation plan; (3) basement plans; (4) floor plan for each floor; (5) cross sections of each (length and width); (6) elevations (all sides); (7) landscape plan; and (8) such other plans or supplements to the foregoing plans as the City may reasonably request to allow it to ascertain the nature and quality of the proposed construction work; Ci ' means the City of Elk River, Minnesota; Closing Date or Closing means not later than September 30, 2024, or such other date as agreed to by the City and Developer on which the City will convey title to the Development Property to the Developer; assigns; Company means Heritage Millwork, Inc., a Minnesota corporation, and its successors and Corporate Guarantor means the Company; Corporate Guaranty means the Corporate Guaranty in substantially the form set forth in Exhibit F, executed by the Corporate Guarantor; Counly means Sherburne County, Minnesota; 3 EL 185\77\951254.v6 Page 299 of 372