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4 <br />EL185\77\970529.v2 <br />Corporate Guarantor means the Company; <br />Corporate Guaranty means the Corporate Guaranty in substantially the form set forth in Exhibit <br />F, executed by the Corporate Guarantor; <br />County means Sherburne County, Minnesota; <br />Current Facility Mortgage means the mortgage on the Company’s current facility in substantially <br />the form set forth in Exhibit I to be executed by the Original Developer in favor of the City to secure the <br />Purchase Price Note; <br />Developer means Jade Elk Properties LLC, a Minnesota limited liability company, and its <br />successors and assigns; <br />Development District means the real property located within Development District No. 1; <br />Development Program means the program approved for the Development District; <br />Development Property means the real property located in the City of Elk River, Sherburne <br />County, Minnesota legally described in Exhibit A attached hereto; <br />Development Property Mortgage means the mortgage on the Development Property in <br />substantially the form set forth in Exhibit H to be executed by the Developer in favor of the City to secure <br />the Purchase Price Note; <br />ERMU means the Elk River Municipal Utilities; <br />Energy Rebate means the rebate from the City to the Developer described in Section 3.8 hereof; <br />Event of Default means any of the events described in Section 6.1; <br />Guaranties means the Corporate Guaranty and the Personal Guaranties; <br />Guarantors mean the Corporate Guarantor and the Personal Guarantors; <br />Lease means the lease agreement between the Developer and the Company pursuant to which the <br />Developer leases the Development Property and the Project to the Company for operation of the <br />Company’s business on the Development Property; <br />Lenders means the SBA Lender and the Bank; <br />Market Value or Market Valuation means the market value of real property as determined by the <br />county assessor in accordance with Minnesota Statutes, Section 273.11 (or as finally adjusted by any <br />assessor, board of equalization, commissioner of revenue, or any court); <br />Maturity Date means February 1, 2035; <br />Mortgages means the Development Property Mortgage and the Current Facility Mortgage; <br />Original Agreement means the Development Assistance Agreement, by and among the City, the <br />Original Developer and the Company, dated as of June 25, 2024; <br />Original Developer means PLM Properties, LLC, a Minnesota limited liability company; <br />Page 233 of 327