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<br />3 <br />The Crossroads at Washington <br />City HOME Loan Agreement <br />"City/HOME Loan Deed of Trust" means the deed of trust encumbering the <br />Property, in the form attached hereto as Exhibit D, to be executed by Developer pursuant <br />to Section 5.B.2 in order to secure the City/HOME Loan Note. <br /> <br />"City/HOME Loan Note" means that certain promissory note in the original <br />principal amount of $3,007,489.00, in the form attached hereto as Exhibit E, to be executed <br />by Developer in favor of City to evidence the obligation of Developer to repay the <br />City/HOME Loan. <br /> <br />"Close of Escrow" shall mean the date upon which the City/HOME Loan Deed of <br />Trust is recorded in the Official Records of the County. <br /> <br />"Closing Statement" means the final statement of Developer's Escrow account for <br />the purchase and sale of the Property pursuant to the Purchase Contract. <br /> <br />“Construction Period” means the period of time commencing with the Close of <br />Escrow and ending on the Conversion Date. <br /> <br /> “Conversion Date” means the date on which the Senior Construction Loan is <br />purchased by the Senior Permanent Lender and it converts from a construction loan to a <br />permanent loan. <br /> <br />"County" means the County of Orange, California. <br /> <br />"Developer" means Washington Santa Ana Housing Partners, L.P., a California <br />limited partnership, its successors and assigns. <br /> <br />"Developer's Representative" shall mean the President of the Administrative <br />General Partner or his/her designee. <br /> <br />“Environmental Reports” [list to be provided under separate cover] <br /> <br />"Escrow Holder" means Old Republic . <br /> <br />"Event of Default" has the meaning set forth in Section 20.1. <br /> <br />"Executive Director" means the Executive Director of the Community <br />Development Agency, or his/her designee. <br /> <br />"Extremely Low Income" means an adjusted income that does not exceed thirty <br />percent (30%) of the area median income for the Orange County, California PMSA, <br />adjusted for household size, as published by HUD. <br /> <br />“General Partner(s)” means the General Partner(s) of Developer, Supportive <br />Housing LLC (the “Managing General Partner”), Related/Washington Santa Ana <br />Development Co., LLC (the “Administrative General Partner”), and their respective <br />successors and assigns. <br />EXHIBIT 5