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lender as may be designated by Developer and approved in advance by the City as the <br />senior permanent lender for the Project. <br />"Senior Permanent Loan" means the Senior Construction Loan following its <br />conversion from a construction to a permanent loan following the satisfaction of certain <br />conversion conditions and the purchase of such Senior Construction Loan by Senior <br />Permanent Lender. <br />"Tax Credit Investor" means U.S. Bancorp Community Development <br />Corporation, a Minnesota corporation. <br />"Tax Credit Rules" means the provisions of Section 42 of the Internal Revenue <br />Code and/or, if applicable, California Revenue and Taxation Code Sections 17057.5, <br />17058, 23610.4 and 23610.5, et seq., as the foregoing may be amended from time to time, <br />to the extent applicable to the Project and the rules and regulations implementing the <br />foregoing, including the regulations set forth in Title 4 Cal. Code Regs. Section 10300, et <br />seq. <br />"Term of Agreement" the terns and conditions contained herein shall commence <br />upon the date first written above and remain in effect for sixty-two (62) years from the <br />issuance of the Certificate of Completion. <br />"Very Low Income" means an adjusted income that does not exceed fifty percent <br />(50%) of the area median income for the Orange County, California PMSA, adjusted for <br />household size, as published by HUD. <br />1.2. Singular and Plural Terms. Any defined tern used in the plural in this <br />Agreement or any other City Loan Document shall refer to all members of the relevant <br />class and any defined tern used in the singular shall refer to any number of the members <br />of the relevant class. <br />1.3. References and Other Terms. Any reference to this Agreement or any <br />Loan Document shall include such document both as originally executed and as it may <br />from time to time be modified. References herein to Articles, Sections and Exhibits shall <br />be construed as references to this Agreement unless a different document is named. <br />References to subparagraphs shall be construed as references to the same Section in which <br />the reference appears. The term "document' is used in its broadest sense and encompasses <br />agreements, certificates, opinions, consents, instruments and other written material of <br />every kind. The terms "including" and "include" mean "including (include) without <br />limitation." <br />1.4. Exhibits Incorporated. All attachments and exhibits to this Agreement, as <br />now existing and as the same may from time to time be modified, are incorporated herein <br />by this reference. <br />Section 2. [RESERVED] <br />8 <br />The Crossroads at Washington <br />City NSP Loan Agreement <br />