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s <br /> NotLQ Payment date means July 1, 1996, and each January 1 and <br /> July 1 of each year thereafter to and including LTanuary 1, 2011 <br /> for the First Note and July 1 2090 and each JanuaE ,..1- and Julv 1 <br /> o f each year the rea f ter tO and inc ludincr_jjanuaMC, 1 j, 2 011-- for the <br /> Second Note; provided, that if any such Note Payment Date should <br /> not be a Business ]day, the Mote Payment Date shall he the next <br /> succeeding Business Day; <br /> Prime Rate means the rate of interest from time to time <br /> publicly announced by First Bank National Association in <br /> Minneapolis, Minnesota, as its "prime rate" or any successor <br /> rate, which rate shall change -as and when that prime rate or <br /> successor rate changes; <br /> Pro 'ect means the 127 unit independent senior living housing <br /> facility and 91 unit assisted senior living housing facility, a <br /> 57 room motel and a 36 unit alheimer's facility to he located on <br /> the Development Property; provided that the al heimer' s facility <br /> may he changed to a facility permitted under the planned unit <br /> development for the Development Property with a market value of <br /> not less than the market value proposed- for the a 1 z he ime r <br /> facility; <br /> Site Improvements means the site improvements to he <br /> undertaken on the Development Property, more particularly <br /> described on Exhibit D attached hereto; <br /> State means the State of Minnesota; <br /> Tax Increments- means of the tax increments derived <br /> from the Tax Increment District which have been received and <br /> retained by the City in accordance with the provisions of <br /> Minnesota Statutes, Section 469 .177 that remain after deduct ins <br /> I" <br /> from the Tax Increanent s_ an amount equal to the LGALHACA -Loss, <br /> Tax Increment Act means Minnesota Statutes, Sections 469 . 174 <br /> through 469 ,179g a s amended; <br /> Tax Ingrement District means Tax Increment Financing <br /> District No. 13 located within the Development District, the <br /> legal description of which is set forth on Exhibit A attached <br /> hereto, which was qualified as a redevelopment district under the <br /> Tax Increment Act; <br /> Tax Increment Financing P.1 an means the tax increment <br /> financing plan approved for the Tax Increment District by the <br /> City Council on April 26, 1993; <br /> 241685.Red <br /> VS to v4; 05/20/98 4 <br />