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ARTICLE I <br />Definitions <br />Section 1.1. Definitions. In this Agreement, all capitalized terms not herein defined shall <br />have the meaning set forth in the Indenture, and unless a different meaning clearly appears from <br />the context: <br />"Act" means Minnesota Statutes, Sections 469.001 to 469.047, as amended. <br />"Agreement" means this Joint Powers Agreement, as the same may be from time to time <br />modified, amended, or supplemented. <br />"Bonds" means the Governmental Development Refunding Bonds (Crow Wing County, <br />Minnesota, Unlimited Tax General Obligation — West Grove Townhomes Project), Series 2012A <br />(the "Bonds"), in the aggregate principal amount of $1,325,000, be issued by the County HRA <br />pursuant to this Agreement and the Financing Documents to effect a full net refunding of the <br />Series 2003A Bonds. <br />"City" means the City of Pequot Lakes, Minnesota, a municipal corporation and political <br />subdivision of the State and its successors and assigns. <br />"City HRA" means the Housing and Redevelopment Authority of Pequot Lakes, <br />Minnesota, a public body corporate and politic and political subdivision of the State, and its <br />successors and assigns. <br />"Closing" means the closing of the Bonds. <br />"County" means Crow Wing County, Minnesota, a municipal corporation and political <br />subdivision of the State, and its successors and assigns. <br />"County HRA" means the Housing and Redevelopment Authority in and for the County <br />of Crow Wing, a public body corporate and politic and political subdivision of the State, and its <br />successors and assigns. <br />"Event of Default" means an action described listed in Article VI of this Agreement. <br />"Financing Documents" means an Indenture of Trust and other documents relating to the <br />issuance of the Bonds. <br />"Indenture" means the Indenture of Trust between the County HRA and U.S. Bank <br />National Association as Trustee, dated May 15, 2012. <br />� <br />'� <br />"Maturity Date" means the date that the Bonds, and any debt of the County HRA issued � <br />to refund the Bonds, have been paid in full in accordance with the terms thereof, and the County <br />400724v1 CR195-11 <br />3 <br />