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"County Road Improvements" means the reconstructxon o� Caunty Road D from the intersection <br />of Lake Jahanna Blvd. easterty to the intersection with Sharewood Dr; recanstructed street to be <br />nozninally 32 feet wide with new concrete curb and gutter, and constructed to a 9-ton design in <br />accordance with Minnesota Departnr�ent af Transporkation design criteria. <br />assigc�s. <br />"Developer" means Presbyterian Hames of Arden Hills, Inc, or its pern�itted successors and <br />"Development Property" means the real property described in Schedule A of this Agreement, <br />p:rovided that fox the purposes of this Agreement, the terrn "Developmen� Property" excludes any partion <br />of property described in Schedule A, or improvements thereon, that are determined by Ramsey County to <br />be exempt fram ad valorem properly taxes as of the date of this Agreement. <br />"Development PIan" means the City's De�elopment Program for Development District No. l, as <br />amended. <br />"Event of DefauIt" naeans an action by the Daveloper Iisted in Ar�icle IX of this Agreement. <br />"Holder" means the awner of a Mortgage. <br />"Housing Revenue Bonds" has the meaning provided in Section 7.2 hereof. <br />"Land Development Agreement" means the development agree�nent to be entered between the <br />Ci�y and the Develaper in connection wi#h the plat of the Develop�nent Properly. <br />"Maturity Date" means the date tha# the Note has been paid in full, defeased or terminated in <br />accordance with its terms, whichever is eariier. <br />"Minimum Improvements" means: (a) the following improvements on the Development Property: <br />Phase IA: 5� units independent living <br />36 units assisted living <br />18 units mernory care <br />Phase IB: 40 units of assisted living <br />18 units of inemory care <br />Phase II: 36 units of independent living (brownstones); and <br />(b) The falIowing improvements within public rights oiway ar easements: <br />Utility Improvements.• reconstruction of exisiing 8" sanitary sewer along the easterly <br />frontage of Lake Johanna fro�nn. the existing Iift station to the manhole in Sandeen Rd, <br />using new 8" PVC pipe along approximately the same line and grade, and i�cluding new <br />inanholes. <br />"Mortgage" means any mortgage which is secured by the whole or any par� of t�e Development <br />Property atzd which is entered into to obtain financing for improvement of the Developm�nt Property. <br />"Note" means a Tax �ncrement Revenue Note, substantially in the form contained in the <br />Autharizing Resolution. <br />"Ph:ase" :mea�s a po�tion. of the Minimum Improvements as described in the definition thereoi. <br />37sg9a�6 s1B .6.�00-�0 <br />