Item 13 - Affordable Housing Project at 1411 N Broadway

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EXHIBIT 3 17058, 23610.4 and 23610.5, et seq., as the foregoing may be amended from time to time, to the extent applicable to the Project and the rules and regulations implementing the foregoing, including the regulations set forth in Title 4 Cal. Code Regs. Section 10300, et seq. “Term of Agreement” means the term of this Agreement, which shall commence upon the date first written above and remain in effect for fifty-five (55) years from the issuance of the Certificate of Completion. “Very Low Income” means an adjusted income that does not exceed fifty percent (50%) of the area median income for the Orange County, California PMSA, adjusted for household size, as published by HUD. “Very Low Income Household” means an individual or family whose annual income qualifies as Very Low Income, adjusted for household size, as published by HUD. 1.2.Singular and Plural Terms. Any defined term used in the plural in this Agreement or any other City Loan Document shall refer to all members of the relevant class and any defined term used in the singular shall refer to any number of the members of the relevant class. 1.3.References and Other Terms. Any reference to this Agreement or any Loan Document shall include such document both as originally executed and as it may from time to time be modified. References herein to Articles, Sections and Exhibits shall be construed as references to this Agreement unless a different document is named. References to subparagraphs shall be construed as references to the same Section in which the reference appears. The term "document" is used in its broadest sense and encompasses agreements, certificates, opinions, consents, instruments and other written material of every kind. The terms "including" and "include” mean "including (include) without limitation." 1.4.Exhibits Incorporated. All attachments and exhibits to this Agreement, as now existing and as the same may from time to time be modified, are incorporated herein by this reference. Section 2. Section 3. [RESERVED] SCOPE OF WORK/ PROJECT BUDGET Developer shall comply with this Section until the Certificate of Completion is issued. A “Scope of Work” for the Property is attached hereto as Exhibit B. Any change to the Scope of Work requested by the Developer, which would result in a change to the development costs in the Project Budget in excess of ten percent (10%) of any individual development cost line item or in excess of five percent (5%) of the aggregate development cost budget, shall be subject to the prior written approval of the Executive Director. 9 WISEPlace Permanent Supportive Housing City HOME-ARP Loan Agreement