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<br />"Development Property" means the real property (including any Minimum Improvements <br />thereon) described in Exhibit A-I of this Agreement; <br /> <br />"Development Property Tax Increments" means the tax increments derived from the <br />Development Properties and received and retained by the City and computed in accordance with <br />the provisions of Minnesota Statutes, Section 469.177; <br /> <br />"Permitted Encumbrances" means the encumbrances described in Exhibit B to this <br />Agreement; <br /> <br />"Person" means any individual, corporation, partnership, joint venture, association, joint- <br />stock company, trust, unincorporated organization, or government or any agency or political <br />subdivision thereof; <br /> <br />"Project l-Bl-2" means the improvements that will be completed on Blocks 1 - 2 of <br />Development Property; <br /> <br />"Project l-B7" means the improvements that will be completed on Block 7 of <br />Development Property, generally consisting of at least 30 units of residential rental apartments; <br /> <br />"Project l-B8" means the improvements that will be completed on Block 8 of <br />Development Property, as shown on Exhibit A-2 and labeled as "Project I-B8;" <br /> <br />"Project I-B9" means the improvements that will be completed on Block 9 of <br />Development Property, as shown on Exhibit A-2 and labeled as "Project I-B9;" <br /> <br />"Project 2-B4" means the improvements that will be completed on Block 4 of <br />Development Property, as shown on Exhibit A-2 and labeled as "Project 2-B4;" <br /> <br />"Project 2-B5" means the improvements that will be completed on Block 5 of <br />Development Property, as shown on Exhibit A-2 and labeled as "Project 2-B5;" <br /> <br />"Project 2-BE-W" means the improvements that will be completed on that real property <br />shown on Exhibit A-2 and labeled as "Project 2-BE-W;" <br /> <br />"Project 3-B6" means the improvements that will be completed units on Block 6 of <br />Development Property, as shown on Exhibit A-2 and labeled as "Project 3-B6;" <br /> <br />"Project 3-BlO" means the improvements that will be completed units on Block 10 of <br />Development Property, as shown on Exhibit A-2 and labeled as "Project 3-BIO;" <br /> <br />"Project 4-B3" means the improvements that will be completed on Block 3 of <br />Development Property, as shown on Exhibit A-2 and labeled as "Project 4-B3;" <br /> <br />"Project I-BI-2 Minimum Improvements" means the substantial completion of the <br />improvements contemplated by and in accordance with this Agreement and the Construction <br />Plans and generally described as consisting of at least 48 units of residential rental apartments; <br /> <br />6 <br />