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DRAFT <br /> 1.1.21 "Eligible Household" means a Household whose income does not exceed <br /> the"Very Low Income Household"qualifying limit as defined herein, <br /> 1.1.22 "First Lien" means the lien of the institution making the purchase money <br /> mortgage loan to Homebuyer for the purchase of the Property. <br /> 1.1.23 "Gross Household Income"means all income from whatever source from <br /> all adult Household members, which is anticipated to be received during the 12-month period <br /> following the date of the determination of Gross Household Income, The applicable sources of <br /> income are defined in California Code of Regulations Title 25 Housing and Community <br /> Development Section 6914, The definition includes the following specific requirements:. <br /> (a) Except as provided in subdivision(b),all payments from all sources <br /> received by the head of Household(even if temporarily absent)and each additional member of the <br /> Household who is not a minor shall be included in the annual income of a Household. Gross <br /> Household Income shall include,but not be limited to; <br /> (i) The gross amount,before any payroll deductions, of wages <br /> and salaries, overtime pay, commissions, fees, tips and bonuses; <br /> (ii) The net income from operation of a business or profession <br /> or from rental or real or personal property(for this purpose, expenditures for business expansion <br /> or amortization) of capital indebtedness shall not be deducted to determine the net income from a <br /> business); <br /> (iii) Interest mid dividends,- <br /> (iv) The full amount of periodic payments received from social <br /> security, annuities,insurance policies,retirement funds,pensions;disability or death benefits and <br /> other similar types of periodic receipts (but see subdivision(2)(c)); <br /> (v) Payments in lieu of earnings, such as unemployment and <br /> disability compensation, worker's compensation,and severance pay; <br /> (vi) Public Assistance. If the public assistance payment includes <br /> an amount specifically designated for shelter and utilities which is subject to adjustment by the <br /> public assistance agency in accordance with the actual cost of shelter and utilities, the amount of <br /> public assistance income to be included as income shall consist of; <br /> (1) The amount of the allowance or grant exclusive of <br /> the amount specifically designated for shelter and utilities, plus <br /> (2) The maximum amount which the public Assistance <br /> agency could in fact allow for the Household for shelter and utilities. <br /> (vii) Periodic and determinable allowances such as alimony and <br /> child support payments, and regular contributions or gifts received from persons not residing in <br /> the dwelling; <br /> )wage 4 <br /> 55394,00101%43423340,1 <br /> i <br />