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Increment attributable to the Development Property and paid to the City by the County in the six (6) <br />months preceding the Payment Date; <br />Security Documents mean the Mortgage and the Guaranties; <br />State means the State of Minnesota; <br />Tax Increment means the tax increments derived from the Development Property and the <br />improvements thereon which have been received and are permitted to be retained by the City in <br />accordance with the TIF Act including, without limitation, Minnesota Statutes, Sections 469.177; <br />469.176, Subd. 4h; and 469.175, Subd. la, as the same may be amended from time to time; <br />Tax Increment Act means Minnesota Statutes, Sections 469.174 through 469.1794, as amended; <br />Tax Increment District means Tax Increment Financing District No. 29 (Heritage Millwork <br />Development Project), as adopted by the City on June 3, 2024, which is qualified as an economic <br />development district under the Tax Increment Act; <br />Tax Increment Financing Plan means the City's Tax Increment Financing Plan for the Tax <br />Increment District, as approved by the City on June 3, 2024 and as may be amended from time to time; <br />Termination Date means the later of (a) date of the City's last receipt of Tax Increment from the <br />Tax Increment District in accordance with Section 469.176, subdivision lb(3) of the Tax Increment Act; <br />or (b) the date the Purchase Price Note has been paid in full, defeased, or terminated in accordance with <br />its terms; and <br />Unavoidable Delays means delays, beyond the reasonable control of the party seeking to be <br />excused as a result thereof, which are the direct result of strikes, other labor troubles, unusually severe or <br />prolonged bad weather, acts of God, fire or other casualty to the Project, litigation commenced by third <br />parties which, by injunction or other similar judicial action or by the exercise of reasonable discretion, <br />directly results in delays, delays in delivery of materials for the Project, or acts of any federal, state or <br />local governmental unit which directly result in delays. <br />EL185\77\951254.v6 <br />Page 301 of 372 <br />