Laserfiche WebLink
<br />''Event of Default" - means those events delineated in Section 2.05. <br /> <br />''Facility'', if applicable, - means public infrastructure improvements for the purpose <br />of redevelopment, which is located, or will be constructed and located, on publicly owned <br />Real Property. <br /> <br />''Fair Market Value" - means either (i) the price that would be paid by a willing and <br />qualified buyer to a willing and qualified seller as determined by an - appraisal which <br />assumes that all mortgage liens or encumbrances on the property being sold, which <br />negatively affect the value of such property, will be released, or (ii) the price bid by a <br />purchaser under a public bid procedure after reasonable public notice, with the proviso that <br />all mortgage liens or encumbrances on the property being sold, which negatively affect the <br />value of such property, will be released at the time of acquisition by the purchaser. <br /> <br />"G.O. Bonds" - means the state general obligation bonds issued under the' authority <br />granted in Article XI, ~ 5(a) of the Minnesota Constitution the proceeds of which are used <br />to fund the Grant or any bonds issued to refund or replace such bonds. <br /> <br />"G.O. Compliance Legislation" - means Minn. Stat. ~ 16A.695 that exists as of the <br />date of this Agreement and as such may subsequently be amended, modified or replaced <br />from time to time. <br /> <br />"Grant" - means a grant of monies from the State Entity to the Public Entity in an <br />amount of$588.900. <br /> <br />"Inspecting Engineer", if any - means the State Entity's construction inspector, or its <br />designated consulting engineer. <br /> <br />''Payment Request" - means a payment request that the Public Entity, or its designee, <br />will submit to the State Entity when a payment is requested, and which is referred to in <br />Section 5.01. ' <br /> <br />''Projecf' - means the acquisition of an interest in the Real Property and, if applicable, <br />the Facility, along with the performance of those activ.ities indicated in Section 2.03. <br /> <br />''Public Entity" - means the Citv of Centerville. a Statutory Citv. <br /> <br />''Real Property" - means the publicly owned, real property located in the County of <br />Anoka. State of Minnesota, legally descnoed in Attachment I to this Agreement. <br /> <br />"State Entity" - means the Minnesota Department .of Employment and Economic <br />Development (DEED). <br /> <br />''Use Contracf' - means a lease, management contract or other similar contract <br />between Public Entity and any other entity, and which involves .or relates to the Real <br />Property and, if applicable, the Facility. <br /> <br />Generic GO Bond Proceeds <br />Grant Agreement for Construction Grants <br /> <br />-3 <br />RDGP-07-OO04-0-FY07 <br /> <br />Ver-1212006 <br />(Gnrc GO GA-Cnstrctn Gmt) <br />