TINY TIM LP (C/O COMMUNITY DEVELOPMENT PARTNERS)

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and charges, but not including security deposits and other tenant deposits, except to the extent such deposits are forfeited to the Borrower under the tenant's lease. Gross Revenues also includes any casualty insurance proceeds in excess of those used to restore the Property, and any rental interruption insurance proceeds. Any credit consideration shall be included in Gross Revenues at the time cash proceeds (principal and/or other) are received. Borrower shall establish and maintain accounts for the Gross Revenues (the "Project Accounts") that are segregated from revenues and income received by Borrower from all other projects. Gross Revenues shall also include all interest earned on the Project Accounts, and shall specifically exclude any capital contributions made by the Investor Limited Partner. "Inclusionary Deed of Trust" shall mean the deed of trust encumbering the Property, in the form attached to the Agreement as Exhibit C, which is incorporated herein by this reference, to be executed by Developer pursuant to section 6.1(e) of the Agreement in order to secure the Inclusionary Promissory Note. "Inclusionary Housing Funds" shall mean the money provided by the City from the Inclusionary Housing Fund for the construction of the City Assisted Units hereunder. "Inclusionary Loan" means a loan in the original principal amount of up to one -million, three -hundred thousand dollars ($1,300,000) to be made to Developer by the City to be funded exclusively from the Inclusionary Housing Fund held by the City. "Interest" shall mean that the NOTE shall bear simple interest at the rate of Three percent (3%) per annum, from the date of issuance of the Certificate of Occupancy/Completion. "Low Income'' means an adjusted income which does not exceed eighty percent (SO%) of the area median income for the Orange County, California PMSA, adjusted for household size, as published by HUD. "Operating Expenses" shall mean the sum of the following: (i) payments of principal and interest and all other charges relating to the Senior Loan(s); (ii) property management fee not to exceed 5% of gross rents; (iii) owner administration fee not to exceed 5% of gross rents which will include Investor Limited Partner local administration fee of $5,500 per year, which shall increase by 3% per year, and other fees payable to the General Partner pursuant to the Partnership Agreement; (iv) deposits into required reserves; (v) any deferred developer fee;