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H. The Inclusionary Loan Agreement, Inclusionary Deed of Trust, Inclusionary Promissory Note and these Restrictions, dated concurrently herewith (collectively the "Inclusionary Loan Documents") are entered into for the purpose of providing for affordable residential rental units in the City of Santa Ana pursuant to the Inclusionary Housing Fund regulations and guidance. NOW, THEREFORE, for and in consideration of the mutual covenants and agreements herein contained, City and Developer agree as follows: 1. Definitions: "Affordable Housing" means housing in which households whose incomes qualify them as Extremely Low, Very Low or Low Income, pay Affordable Rents. "Affordable Rent" means the monthly rents which do not exceed the maximum amount applicable to Extremely Low, Very Low and Low Income households, as promulgated by the California Tax Credit Allocation Committee (TCAC), or by the State of California, as applicable. "Agency" means the Housing Authority of the City of Santa Ana, acting as the Housing Successor Agency, a public body, corporate and politic, exercising governmental functions and powers, and organized and existing under the CRL. The principal office of the Agency is located at 20 Civic Center Plaza, Santa Ana, California 92702. "Agency" shall also refer to the City where the context dictates, to the effect that City shall have all rights granted to the Agency hereunder. "Agreement" means the Loan Agreement by and between the City and Developer for Inclusionary Housing Funds. "Applicable Law" shall mean those federal, state and local laws, ordinances, regulations, policies and procedures applicable to the Inclusionary Housing Funds. "Building Permit" means the building permit(s) issued by the City of Santa Ana and required for the construction. "Business Day" means any Monday, Tuesday, Wednesday, Thursday or Friday on which Santa Ana City Hall is open to the public for the conduct of City affairs. "Calendar Year" means each consecutive twelve (12) month period from January 1 to December 31. "Certificate of Completion" has the meaning set forth in Article 17 of the Agreement. "City" means the City of Santa Ana, California, a charter city and municipal corporation. "City" shall also refer to the Agency where the context dictates, to the effect that the Agency shall have all the rights granted to the City hereunder. "City Project Manager" shall mean the City's Housing Manager and/or his/her designee. 3 55A-66