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has been repaid in full any amounts advanced by the County to pay debt service on the Bonds as <br />� provided in Section 3.3 hereof. <br />"Payment Obligation" shall have the meaning given such term under Section 3.8. <br />"Project" means the eight unit rental residential development project intended for seniors <br />constructed and owned by the City HRA on the Project Site, and all related improvements. <br />"Project Site" means the real property owned by the City HRA upon which the Project <br />was constructed, a legal description of which property is attached as Exhibit A to this <br />Agreement. <br />"Project Revenues" means (i) all revenues and receipts derived by the City HRA or the <br />County HRA from the operation of the Project including tenant rentals and all other moneys as <br />may be paid to or on behalf of the City HRA or County HRA or to which the City HRA or <br />County HRA may be entitled with respect to the Project (excluding security deposits), (ii) all <br />proceeds from use and occupancy insurance and rental loss insurance, and (iii) investment <br />earnings on the foregoing and on the Special Funds except as otherwise directed in the Financing <br />Documents. Project Revenues shall not include Extraordinary Revenues received by the County <br />HRA from pursuing its remedies for certain Events of Default, as such terms are defined in the <br />Financing Documents. <br />"Revenues" means the (i) Project Revenues and (ii) the City HRA's Special Benefits Tax. <br />� <br />"Special Benefits Tax" means the special benefits tax authorized by the City HRA or <br />County HRA, as the case may be, pursuant to resolutions passed by the City Council and the <br />County Board of Commissioners, respectively, authorizing the use of the special benefits tax, to <br />the extent required and pledged under the Indenture, until the Maturity Date. <br />� <br />"State" means the State of Minnesota. <br />"Trustee" means U.S. Bank National Association, a national banking association duly <br />established, existing and authorized to accept and execute trusts, with its principal office in <br />St. Paul, Minnesota. <br />400724v1 CR195-11 <br />4 <br />