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"Association" means the Cornerstone Village Owners' Association, a California non- <br />profit public benefit corporation. <br />"CC&R's" means those certain Conditions, Covenants, Restrictions and Easements <br />attached hereto as Exhibit " B". <br />"Certificate of Compliance" means a certificate issued by the Agency, in the form <br />attached hereto as Exhibit "F", certifying that a particular parcel in the Agreement Area has been <br />found to be in compliance with respect to the Property Inspection/Coinpliance Program <br />described in Section 4. <br />"Code" means the Internal Revenue Code of 1986, as amended, including the <br />Regulations promulgated thereunder or under any predecessor statute. <br />"County" means the County of Orange, California. <br />"City" means the City of Santa Ana, California, a charter city and municipal corporation <br />duly organized and existing under the Constitution and laws of the State of California. <br />"Facade and Courtyard and Courtyard Improvement Program" has the meaning set <br />forth in Section 6. <br />"Facade and Courtyard and Courtyard Improvements" means the Facade and <br />Courtyard improvements generally described in Exhibit "G" attached hereto. <br />"Facade and Courtyard Improvements Completion Bate" means the later of (a) <br />acceptance of the work by the Owner, or (b) twelve (12) months from start of the work, <br />"Initial Income Certification Date" means not later than six months following the <br />Implementation Date. <br />"Implementation Date" means, with respect to any particular Property, the date on <br />which the CC&R's are recorded against that Property in the Official Records. <br />"Inspection Report" has the meaning set forth in Section 4.3. <br />"Low -Income Tenant" means a person or family with Adjusted Income, determined as <br />of the date of initial income certification for existing tenant and for new tenants occupancy, by <br />reference to the income certification process described in Section 3.4, that does not exceed eighty <br />percent (80%) of the Median Income for the Area, adjusted for faanily size. (Note: By way of <br />example, in June 2002, eighty percent (80%) of the Median Income for a family of four is <br />$60,500 per year.) <br />"Median Income for the Area" means the median income for the Orange County, <br />California Metropolitan Statistical Area as determined and published annually by the Secretary <br />3 <br />