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1.1.27 "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. 1.1.28 "Very Low Income Household" means a Household whose annual income qualifies as Very Low Income, adjusted for household size, as published by HUD. 1.2 Exhibits. The following documents are attached to, and by this reference made a part of, this Agreement: 1.2.1 Exhibit A—Legal Description of the Property 1.2.2 Exhibit B—Tenant Verification 1.2.3 Exhibit C—Annual Tenant Recertification 1.2.4 Exhibit D—Annual Rental Housing Compliance Report 2. DEVELOPMENT OF THE PROPERTY 2.1 Project. Owner shall rehabilitate,operate, and maintain,or cause the rehabilitation, operation and maintenance of, the Property as an eleven (11) unit rental residential community, with ten (10)Affordable Units for Qualified Residents. 2.2 Parking Requirements.The Project shall have no less than twenty-nine(29)parking spaces, with twenty (20) spaces for residents and nine (9) spaces for the intended preschool. The parking shall include one (I) accessible space and one (I) loading parking stall. 2.3 Minimum Development Standards for Affordable Units. The Affordable Units shall be constructed with the same exterior appearance and interior features, fixtures, and amenities, and shall use the same type and quality of materials as provided for any Unrestricted Units, regardless of whether such Unrestricted Units are in the Project. 2.4 Permits and Processing; Compliance with Laws. Owner, at its sole cost and expense, or as otherwise set forth in a separate written agreement, shall secure or cause to be secured any and all permits that may be required for the construction and rehabilitation of the Project by City or any other federal, state, or local governmental entity having or claiming jurisdiction over the Property or Project. Upon securing any and all permits, and all necessary financing and property interests, Owner shall carry out and perform the rehabilitation, operation, and maintenance of the Project or cause the performance of the rehabilitation, operation, and maintenance of the Project, in conformity with all applicable federal, state, and local laws and regulations, and all conditions of approval issued by the City Council and City's Planning Commission for the Project. Any changes to the Project shall be reviewed by the City to determine compliance with this Agreement. If any changes to the Project shall materially alter the ability of Owner to comply with any terms of this Agreement in City's sole determination, then City and Owner shall meet and confer to address amendments and revisions to this Agreement as necessary.