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EXHIBIT 3
<br />Resource Conservation and Recovery Act, 42 TT_S_C - §§ 6901 et sue., and the
<br />Comprehensive Environmental Response, Compensation and T.iability Act of 1980, 42
<br />U.S.C. §§ 9601, et seq., as amended.
<br />"HUD" means the United States Departnnent of Housing and Urban
<br />Development and any successors or assigns thereof.
<br />"Improvements" means all improvements and flxtnres now and hereafter
<br />comprising any portion of the Property, including, without limitation, landscaping, trees
<br />and plant materials; and offsite improvements (including, without limitation, streets,
<br />curbs, s1.01111 drains, and adjacent street lighting)_
<br />"Indebtedness" of a person means (a) all indebtedness for borrowed
<br />money, (b) notes payable and drafts accepted representing extensions of credit, whether
<br />or not representing obligalions for borrowed money, (c) any obligation for the purchase
<br />of property or services in excess of 510,000 in the aggregate that is 6) deferred for more
<br />than six (6) months, or (ii) evidenced by a note or similar insnvmcnt, and ( d) all recoursc
<br />and all non -recourse indebtedness secured by any Lien on any property or asset of such
<br />person (whether or not assutned by such person).
<br />"Indcrnnilecs" ha> the meaning set forth in Section 145.
<br />"Laws" means all statutes, laws, ordinances, regulations, orders, wn43,
<br />judgnlents, injunctions, decrees or awards of the United States or any state, county,
<br />nnrulicipality or other Governmental Authority_
<br />"Lien" means any lien, mortgage, pledge, security interest, charge or
<br />encumbrance of any kind (including any conditional sale or other title retention
<br />agreement, any lease in the nature thereof, and any agreement to give any lien or security
<br />interest).
<br />-Limited Partner" ancans the Limited Partners of Developer, and their
<br />successors and assigns.
<br />"Loan Documents" means, colleetivcly, this Agreement, the City/CDBG
<br />Loan NUCC, the City/CDBG Deed ofTrtsi, the Affordability Rcsuictions on Transfer of
<br />Property, and any oilier agreement, document, or instrument that ilie City requires in
<br />connection with the execution ofthis Agreement or from time to time to effectuate the
<br />purposes of this Agreement_
<br />"Low Income" means an adjusted income which does not exceed eighty
<br />percent (80%) of the area median inconnc for the Orange County, California PMSA,
<br />adjusted for household sire, as published by HUD.
<br />"Median income for the Area" means the median income for the Orange
<br />County, California PMSA as most recently determined by HUD. Also may be referred h)
<br />interchangeably in the Loan Documents as "Area Median Income" or "AMP'.
<br />City Council 5 21 — 9 4/20/2021
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