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4 <br />established pursuant to Indiana Code 36-7-32.5-19 and the IDD Agreement, to be pledged or <br />otherwise obligated by the City Bodies and/or the IEDC to the payment of the debt service of the <br />Bonds. <br />“Pledged TIF Revenues” shall mean eighty-eight percent (88%) of the 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 Developer 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 Developer 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 Developer from any lender to fund a <br />portion of the costs of the Project. <br />“Projected Pledged IDD Revenues” shall mean the final projection of the Pledged IDD <br />Revenues prepared by the Municipal Advisor, as municipal advisor to the City Bodies, on or before <br />the Closing Date. <br />“Projected Pledged TIF Revenues” shall mean the final projection of the Pledged TIF <br />Revenues prepared by the Municipal Advisor, as municipal advisor to the City Bodies, on or before <br />the Closing Date. <br /> “Property Inspection” shall mean surveys, borings, tests, inspections, examinations, <br />studies, and investigations, including, without limitation, environmental assessments. <br />“RDC/City Direct Costs” shall mean all costs of the Redevelopment Commission and the <br />City to pay annual fees of the Trustee with respect to the Bonds, if any, and any fees or reasonable <br />costs incurred in monitoring the Pledged TIF Revenues and the Pledged IDD Revenues in the <br />amount of $3,000 semiannually for the Bonds. <br />“Required Permits” shall mean all permits, licenses, approvals, and consents required by <br />the Laws for construction and use of the Project. <br />“Site Plan” shall mean the site plan attached hereto as Exhibit C.