Laserfiche WebLink
[WRIM1Ly1191 <br />Moderate -Income Households. Thirty (30) percent of the income of a household earning <br />one hundred and twenty (120) percent of the Median Income for the Area for for -sale units, <br />adjusted for family size appropriate for the unit. <br />"Affordable Mortgage" means the monthly mortgage payment, which does not exceed <br />the maximum amount applicable to Moderate Income Households. <br />"Agent" shall mean. with respect to Habitat's rights and responsibilities under this <br />Restriction, Habitat or similarly situated non-profit public benefit organization assisting with <br />providing housing for moderate -income persons as Habitat's successors and assigns, subject to the <br />City's right to approve the agreement to effect such assignment or transfer. City shall permit <br />Habitat assignments or transfers of Habitat's interests under the Restriction to an Affiliate <br />nonprofit public benefit corporation or for -profit corporation of Habitat, or to a limited partnership <br />whose general partner is a nonprofit corporation, for -profit corporation or limited liability <br />company is an Affiliate of Habitat or Habitat's general partner <br />"Applicable Law" shall mean those federal, state and local laws, ordinances, regulations, <br />policies and procedures applicable to the Inclusionary Housing Funds. <br />"City" means the City of Santa Ana, California, a charter city and municipal corporation. <br />"City" shall also refer to the Housing Authority of the City of Santa Ana where the context dictates, <br />to the effect that the Housing Authority of the City shall have all the rights granted to the City <br />hereunder. <br />"Governmental Authority" means any governmental or quasi -governmental agency, <br />board, bureau, commission, department, court, administrative tribunal or other instrumentality or <br />authority, and any public utility. <br />"HUD" means the United States (U.S.) Department of Housing and Urban Development, <br />and any successors or assigns thereof. <br />"Improvements" means all improvements and fixtures now and hereafter comprising any <br />portion of the Property, including, without limitation, landscaping, trees and plant materials; and <br />offsite improvements, as required through the City of Santa Ana Planning and Building Agency <br />entitlement process. <br />"Inclusionary Grant" or "Conditional Inclusionary City Grant" means a grant in the <br />original principal amount of up to two hundred, thirty-one thousand, four hundred and ninety-four <br />dollars ($231,494) to be made to Developer by the City to be funded exclusively from the <br />Inclusionary Housing Fund. <br />"Laws" means all statutes, laws, ordinances, regulations, orders, writs, judgments, <br />injunctions, decrees or awards of the United States or any state, county, municipality or other <br />Governmental Authority. <br />50 ' • I go <br />