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<br />Page | 6 <br />4894-6811-3695v.2 0017787-000542 <br />4894-6811-3695v.2 0017787-000542 <br />1.1.22. “Improvement Costs” shall mean the final actual construction costs incurred <br />by Tenant in connection with the construction of the Improvements and in accordance with the terms <br />of this Lease, excluding ordinary repair and maintenance costs and any Permitted Capital <br />Expenditures paid for out of the Capital Improvement Fund. <br /> <br />1.1.23. “Improvements” shall mean and includes all buildings (including above- <br />ground and below ground portions thereof, and all foundations and supports), building systems and <br />equipment (such as HVAC, electrical and plumbing equipment), physical structures, fixtures, <br />hardscape, paving, curbs, gutters, sidewalks, fences, landscaping and all other improvements of any <br />type or nature whatsoever now or hereafter made or constructed on the Premises. The term <br />Improvements shall mean the Initial Improvements and any replacement improvements constructed <br />in accordance with the terms of this Lease. During the entire Term, the Improvements will be <br />restricted to the following uses: <br /> <br />(a) multifamily affordable housing, <br />(b) permanent supportive housing units and related services, and <br />(c) related commercial and community-serving uses as needed for the siting of the <br />affordable housing and supportive housing units, as approved by the Lessor. <br /> <br />1.1.24. “Includes” shall mean “includes but is not limited to” and “including” shall <br />mean “including but is not limited to.” <br /> <br />1.1.25. “Initial Improvements” shall mean the improvements first constructed by <br />Tenant on the Premises at its sole cost and expense as more particularly described in Exhibit B <br />attached hereto and incorporated by reference herein. <br /> <br />1.1.26. “Interest Rate” shall mean the lower of: (a) the reference or prime rate of <br />U.S. Bank National Association, in effect from time to time plus three percent (3%); or (b) the <br />highest rate of interest permissible under the Laws not to exceed the rate of twelve percent (12%) per <br />annum. <br /> <br />1.1.27. “Laws” shall mean all laws, codes, ordinances, statutes, orders and <br />regulations now or hereafter made or issued by any federal, state, county, local or other governmental <br />agency or entity that are binding on and applicable to the Premises and Improvements. <br /> <br />1.1.28. “Lease” shall mean this Ground Lease (including any and all addenda, <br />amendments and exhibits hereto), as now or hereafter amended. <br /> <br />1.1.29. “Leasehold Estate” is defined in Section 17.1.1. <br /> <br />1.1.30. “Leasehold Foreclosure Transferee” is defined in Section 17.1.2. <br /> <br />1.1.31. “Leasehold Mortgage” is defined in Section 17.1.3. <br /> <br />1.1.32. “Leasehold Mortgagee” is defined in Section 17.1.4. <br /> <br />1.1.33. “Lender” shall mean: (a) a bank, savings bank, investment bank, savings and <br />loan association, mortgage company, insurance company, trust company, commercial credit <br />Commented [ST6]: Right now this defined term isn’t used <br />any where. I added it in two spots where I think it may <br />have been intended. <br />EXHIBIT 11