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<br />I <br />I <br />~ "Holder" means the owner of a Mortgage. <br /> "Market Value" means the market value of real property as determined by the County <br /> Assessor of the County for real estate tax purposes. <br />I "Minimum Improvements" means the improvements to be constructed by Redeveloper on <br />I the Redevelopment Property consisting of Phase I, Phase 11, and Phase III, all to be constructed <br /> in accordance with approved Construction Plans. <br />I "Mortgage" means any mortgage made by the Redeveloper which is secured, in whole or <br /> in part, with the Redevelopment Property and which is a permitted encumbrance pursuant to the <br /> provisions of Articles VII and VIII of this Agreement. <br />I "Net Proceeds" means any proceeds paid by an insurer to the Redeveloper or the <br /> Authority under a policy or policies of insurance required to be provided and maintained by the <br />I Redeveloper pursuant to Article V of this Agreement and remaining after deducting all expenses <br /> (including fees and disbursements of counsel) incurred in the collection of such proceeds. <br />I "Parcel" means a parcel of the Redevelopment Property on which a Phase is to be <br /> constructed. <br />Ie "Phase" means either Phase I, Phase II or Phase III. <br /> "Phase I" means that portion of the Minimum Improvements consisting of a 135,000 <br />I square foot office/warehouse development. <br />I "Phase II" means that portion of the Minimum Improvements consisting of a 105,000 <br /> square foot office/warehouse development. <br />I "Phase III" means that portion of the Minimum Improvements consisting of a 105,000 <br /> square foot office/warehouse development. <br /> . <br />I "Phase I Public Improvements" means that portion of the Public Improvements described <br /> as such on the attached Schedule B. <br />I "Phase II Public Improvements" means that portion of the Public Improvements <br /> described as such on the attached Schedule B. <br />I "Phase III Public Improvements" means that portion of the Public Improvements <br /> described as such on the attached Schedule B. <br />I "Plan" means, collectively, the Tax Increment Financing Plan and Development Program <br />tI adopted by the City in connection with the creation of the Tax Increment District and Project, <br /> respectively, as modified as of the date of this Agreement, and as they may be further modified <br /> from time to time. <br />I 4 <br />