Item 16 - Affordable Housing Project at 801, 807, 809 and 809 ½ E. Santa Ana Blvd

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"Improvements" means all improvements and fixtures now and hereafter comprising any portion of the Property, including, without limitation, landscaping, trees and plant materials; and offsite improvements, as required through the City of Santa Ana Planning and Building Agency entitlement process. "Laws" means all statutes, laws, ordinances, regulations, orders, writs, judgments, injunctions, decrees or awards of the United States or any state, county, municipality or other Governmental Authority. "Lien" means any lien, mortgage, pledge, security interest, charge or encumbrance of any kind, including any conditional sale or other title retention agreement, any lease in the nature thereof, and any agreement to give any lien or security interest. “Loan Documents” or “Agency Loan Documents” means, collectively, the Agreement, the Agency Promissory Note, the Agency Deed of Trust, and these Restrictions, and any other agreement, document, or instrument that the Agency reasonably requires in connection with the execution of these Restrictions or from time to time to effectuate the purposes of these Restrictions. “Low Income” means an adjusted income which does not exceed eight y percent (80%) of the Median Income for the Area, adjusted for household size, as published by the U.S. Department of Housing and Urban Development (HUD). “Median Income for the Area” means the median income for Orange County, California PMSA as most recently determined by HUD. Also may be referred to interchangeably in the Agency Loan Documents as “Area Median Income” or “AMI”. "Project" means the construction of the Improvements upon the Property by Developer pursuant to the Agreement. "Property" means the Developer’s leasehold interest in the property that is located at 801, 807, 809 and 809 ½ E. Santa Ana Blvd. in the City of Santa Ana, and as more fully described in the “Legal Description” of the Property attached as Exhibit A to the Agreement. “Restricted Units” means sixteen (16) permanent supportive housing units at the Project shall and will be restricted to Affordable Rents for chronically homeless Extremely-Low Income households for a period of no less than fifty-five (55) years. One (1) additional unit will be rented to an on-site property manager; the manager’s unit will not be rent restricted. “Term of Affordability” or “Affordability Period” means the terms and conditions contained herein shall remain in effect for fifty-five (55) years from the date of issuance of the Certificate of Occupancy for the Project, or repayment of the Agency Loan, whichever is longer. EXHIBIT 4