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__ __ _ <br />"County Road improvements" means the reconstruction of County Road D from the intersection <br />of Lake Johanna Btvd. easterly to the intersection wi#h S�orewood Dr; recanstructed street io be <br />naminally 32 feet wide with new concrete curb and gutter, and eonstructed to a 9-tan design in <br />accordance with Minnesota Department of Transportation design criteria. <br />"De�eloper' means Presbyterian Homes of Arden Hills, Inc. or its pennitted successors and <br />assagns. <br />"Deve3opmeni Property" means the real property described in Schedute A of this Agreement, <br />provided that for the purposes of this Agreement, tl�e term "Development Property" excludes any portion <br />of property deseribed ij� Schedule A, or irrtproveinenis thereon, that are determined by Ra�-nsey Caunty to <br />be exempt from ad valorem property taxes as of the date af t�is Agreement. <br />"Development Plad' means the City's Development Program far Development District No. 1, as <br />ainended. <br />"Enviranmentaf Response Actions" has tl�e �neaning provided in Sect�on 3.5(d). <br />"Eve�i of DefaUlt" means an action by the Deveioper listed in Article IX of this Agreement_ <br />"Holder" �neans the owner of a Mortgage. <br />"Housin� Reve�ue Bonds" rr3eans qualified 501{c}(3) revenue bonds issued by the City under <br />Minnesota Statutes, Sections 469. i 52 to 469.1 b5 or Chapter 4b2C in order to fina�►ce a�� or a portion of <br />the Minimurrt Improvements, as further described in Section 7.] hereof. <br />"Land Development Agreement" mea�is the development agreement tq be enterec� between the <br />City and the Developer in connection with the pIat of the Developrnent Properiy. <br />"Maturity Da#e" means the date that the Note has been paid in ful�, defeased or terminated in <br />accordance with its terms, whichever is earlier. <br />"IV�i��imum Improvements" means: (a) the folIowing improvements on the Deveiopment Properry: <br />Phase lA: 54 units inc�ependen# living <br />36 units assisted ]rv�ng <br />] 8 units rnemory care <br />Phase IB: 40 units of assisted living <br />3 8 un its of inemory care <br />Phase 77: 36 units of inc�epertdent �iving (brownsto�es); and <br />(b) The following impravements within pablic rights of way or easements: <br />Utility Inrproti�ef�aents: reco��structian of existing 8" sani#ary sewer along the easterly <br />frontage of Lake Joha�na from the existing ]ift station to #he manhole in Sandeen Rd, <br />using new 8" AVC pipe along approximate}y the same ]ir�e and grade, and inc�udang new <br />manholes. <br />"Mortgage" means any mortga�e which is secured by the whoIe or ar�y part of the Development <br />Property and which is eniered into to obtain financing for improvement of the Development Property. <br />37s99ov�o s�s aRzoa-�o 3 <br />