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<br />4 <br /> <br />“Loan Agreement” shall mean the agreement between the Company and the City pursuant <br />to which the City shall loan the Bond Proceeds to the Company, which agreement shall provide, <br />among other things, that the Company shall be required to make payments with respect to such <br />loan only if Bond Proceeds designated for capitalized interest, Pledged TIF Revenues and any <br />payments made pursuant to the Taxpayer Agreement are insufficient to repay debt service on the <br />Bonds. <br />“Permitted Change” shall mean any change to that portion of the approved Plans and <br />Specifications, so long as such change: (a) does not materially affect the exterior appearance of <br />the Project or the location, size, or number of parking spaces; (b) is in substantial conformity with <br />each of the Site Plan, the Required Permits, and the Laws; and (c) is consistent with the overall <br />description of the property as set forth in Exhibit A. <br /> <br />“Plan Refinement Process” shall have the meaning set forth in Section 4.03. <br /> <br />“Plans and Specifications” shall mean the plans and specifications for the Project. <br /> <br />“Plat” shall mean the plat of the Project Site that has received approval of the City on or <br />before Closing and is ultimately recorded in the Office of the Recorder of St. Joseph County, <br />Indiana. <br />“Pledged TIF Revenues” shall mean (i) ninety percent (90%) of the TIF Revenues; and (ii) <br />an additional annual amount equal to six percent (6.0%) of the TIF Revenues until such time as <br />the aggregate of such additional annual amounts equals $1,342,000 following which the only <br />amount of TIF Revenues pledged shall be 90% of such TIF Revenues. <br />“Project Costs” shall mean the following categorical costs of providing for “economic <br />development facilities” as defined and set forth in the Act: <br />(i) Issuance Costs; <br />(ii) the “Capitalized Interest Costs,” if any, namely a portion of the interest on the <br />Bonds from the date of their original delivery through and including the anticipated period <br />of construction of the portion of the Project financed by Bonds, plus one year thereafter, in <br />accordance with the Act; <br />(iii) all costs and expenses which the Company shall be required to pay, or advance <br />under the terms of any contract or contracts (including the architectural and engineering, <br />development services with respect thereto), for the construction of the Project; and <br />(iv) any sums required to reimburse the Company for advances made for any of the <br />above items or for any other costs incurred and for work done which are properly <br />chargeable to the Project. <br />“Project Loan” shall mean any loan incurred by the Company from any lender to fund a <br />portion of the costs of the Project.