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<br />3 <br />9138-126780\1517029.2 <br />1.1.3 “Affordable Rent Schedule” means a rent schedule established as of the <br />date of issuance of an occupancy permit (exclusive of tenant utility payments or security deposits) <br />for the required number/percentage of the total number of units in the Project which are to be <br />rented or available for rent to Extremely-Low Income Tenants. Said Affordable Rent Schedule <br />shall be established at the time of the issuance of the occupancy permit (“Initial Rent Schedule”) <br />and shall be created in accordance with Health and Safety Code section 50053(b), and shall be <br />updated no less than annually. <br /> <br />1.1.4 "Affordable Units" means forty-seven (47) units, which shall be <br />comprised of forty-seven (47) studio units for Extremely-Low Income Tenants. Any change to <br />the number or distribution of Affordable Units is subject to City Manager approval. <br /> <br />1.1.5 "Agreement" means this Density Bonus Housing Agreement. <br /> <br />1.1.7 "City" means the City of Santa Ana, California <br /> <br />1.1.8 "City Council" means the City Council of the City of Santa Ana. <br /> <br />1.1.9 "City Attorney" means the City Attorney for the City of Santa Ana. <br /> <br />1.1.10 "City Manager" means the City Manager for the City of Santa Ana. <br /> <br />1.1.11 "City's Planning Commission" means the Planning Commission for the <br />City of Santa Ana. <br /> <br />1.1.12 ''Density Bonus Housing Agreement Term" means the period during <br />which this Agreement shall be in full force and effect, as provided for in Section 6 below. <br /> <br /> <br />1.1.14 "Developer" means North Broadway Housing Partners LP and its <br />permitted successors and assigns to all or any part of the Property, Project or this Agreement. <br /> <br />1.1.15 "Effective Date" means the date the Developer and the City shall record or <br />cause to be recorded in the Official Records for Orange County, California, an executed original <br />of this Agreement, pursuant to section 4.1 herein. <br /> <br />1.1.16 "Eligible Household" means a Household whose income does not exceed <br />the qualifying limit for an “Extremely-Low Income Tenant” as defined herein. <br /> <br />1.1.17 “Extremely-Low Income Tenant” means persons and families whose <br />income does not exceed thirty (30%) of the area median income for the Orange County, California <br />Primary Metropolitan Statistical Area (“PMSA”), adjusted for household size, as published by the <br />California Department of Housing and Community Development (“HCD”). <br /> <br />1.1.18 "Household" means all persons residing in a Unit. <br /> <br />EXHIBIT 5