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"City/HOME Loan" means the loan to be made to Developer by City from HOME funds pursuant to Article 5 of this Agreement. "City/HOME Loan Deed of Trust" means the deed of trust encumbering the Property, in the form attached hereto as Exhibit D, to be executed by Developer pursuant to Section 5.13.2 in order to secure the City/HOME Loan Note. "City/HOME Loan Note" means that certain promissory note in the original principal amount of $2,003,705, in the form attached hereto as Exhibit E, to be executed by Developer in favor of City to evidence the obligation of Developer to repay the City/HOME Loan. "Close of Escrow" shall mean the date upon which the City/HOME Loan Deed of Trust is recorded in the Official Records of the County. "Closing Statement" means the final statement of Developer's Escrow account for the purchase and sale of the Property pursuant to the Purchase Contract. "Construction Period" means the period of tune commencing with the Close of Escrow and ending on the Conversion Date. "Conversion Date" means the date on which the Senior Construction Loan is repaid in full and the Senior Pennanent Loan is disbursed to Borrower. "County" means the County of Orange, California. "Developer" means Westview House LP, a California limited partnership, its successors and assigns. "Developer's Representative" shall mean the President of the Sole Managing Member of the Administrative General Partner or his/her designee. "Escrow Holder" means Fidelity National Title, 18500 Von Kannan Avenue, Suite 600, Irvine, CA 92612. "Event of Default" has the meaning set forth in Section 20.1. "Executive Director" means the Executive Director of the Community Development Agency, or his/her designee. "Extremely Low Income" means an adjusted income that does not exceed thirty percent (30%) of the area median income for the Orange County, California PMSA, adjusted for household size, as published by HUD. Westview House City HOME Loan Agreement