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2 <br />1.1 Assessed Value. “Assessed Value” means the market value-in-use of a property, <br />used for property tax assessment purposes as determined by the St. Joseph County Assessor. <br />1.2 Board of Works. “Board of Works” means the Board of Public Works of the City, <br />a public body granted the power to award contracts for public works pursuant to I.C. 36-1-12. <br />1.3 Funding Amount. “Funding Amount” means an amount not to exceed Three <br />Hundred Thousand Dollars ($300,000.00) of tax increment finance revenues to be used for paying <br />the costs associated with the construction, equipping, inspection, and delivery of the Local Public <br />Improvements. <br />1.4 Private Investment. “Private Investment” means a total amount over the course of <br />the Project equaling no less than Three Million Seven Hundred Fifty Thousand Dollars <br />($3,750,000.00) to be expended by the Developer for the costs associated with constructing the <br />improvements set forth in the Project Plan, including architectural, engineering, and any other <br />costs directly related to completion of the Project that are expected to contribute to increases in the <br />Assessed Value of the Developer Property. <br />SECTION 2. INTERPRETATION, TERMS, AND RECITALS. <br />2.1 Interpretation. <br />(a) The terms “herein,” “hereto,” “hereunder,” and all terms of similar import <br />shall be deemed to refer to this Agreement as a whole rather than to any Article of, Section <br />of, or Exhibit to this Agreement. <br />(b) Unless otherwise specified, references in this Agreement to (i) “Section” or <br />“Article” shall be deemed to refer to the Section or Article of this Agreement bearing the <br />number so specified, (ii) “Exhibit” shall be deemed to refer to the Exhibit of this Agreement <br />bearing the letter or number so specified, and (iii) references to this “Agreement” shall <br />mean this Agreement and any exhibits and attachments hereto. <br />(c) Captions used for or in Sections, Articles, and Exhibits of this Agreement <br />are for convenience of reference only and shall not affect the construction of this <br />Agreement. <br />(d) The terms “include”, “including” and “such as” shall each be construed as <br />if followed by the phrase “without being limited to.” <br />2.2 Recitals. The Recitals set forth above are incorporated into and are a part of this <br />Agreement for all purposes. <br />SECTION 3. ACCESS. <br />3.1 Grant of Easement. The Developer will grant to the Commission a temporary, non- <br />exclusive easement on, in, over, under and across any part(s) of the Developer Property (the <br />“Easement”) in the form attached hereto as Exhibit D, to permit the Commission to fulfill its <br />obligations under this Agreement, including the construction, equipping, inspection, and delivery