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"Pi-o e " is defined in Recital P. <br />"Propedj) M(mog i," is defined in Section 4 1. . <br />"P ,'ch(Ise rice" shall mean the price to be paid as consideration for the purchase of the <br />Site by the Developer froin the Agency, as set forth in Section 20 1 . <br />"RAP" is defined in Section 206.4. <br />" ed v o nten t Plan" means the Redevelopment Plan for the Merged Redevelopment <br />Project as approved by Ordinance No. 2662 -2667 adopted by the City Council of the City of <br />Santa Ana on September 20, 2004, as amended. <br />"egulatm; Agreement" means the Regulatory Agreement Which is to be recorded as an <br />encumbrance ofeach Phase of th Rental Poilion of the Project in a f rni which is attached hereto as <br />Attachment No. 7 a nd incorporated herein, in accordance with Section 40 l.1 1. The R gulat ry <br />Agreement may soniefinies be referred to herein as the "Agenc y Developer C &Rs" or the <br />"CC &Rs," <br />"Release of Cons ritet on Covenants" means the document which evidences the <br />Developer's satisfactory completion of the Developer Improvements, as set forth in Section 313 <br />hereof, in the form of Attachment No. 6 hereto which 1s incorporated herein by reference. <br />"Re editi Work" is defined in Section 206.4. <br />"Renhil Poillon o f the roje " means that position of the Project that consists of the <br />Rental Units. The Rental Portion of the Project consists f four lots as identified on the Site <br />Map and shall be constructed in two separate Phases (Phase R- I and Phase R-2). <br />"Rental Unit" or "Rental n s" ineans the Housing alts that is /are constructed and <br />developed within the Rental Portion of the Project, all of which shall be rented or lease to <br />Extremely Low Income Households and/or Very Low Incoine Households as provided in this <br />Agreement. <br />" or " means the preliminary title report, as described in Section 202 hereof. <br />" eviNed r dg " means the revised development budget prepared by the Developer* and <br />approved by the Agency Executive Director, acting its her reasonable discretion, prior to and as a <br />condition precedent to Closing of the applicable Phase of the Rental Portion of the Project and, <br />in the case of the Phase FS, prior to the Conveyance and as a Condition Precedent of the first <br />phase within Phase PS, in the sane format as the Budget, shoving Total Development Costs <br />basal on the then most current information. <br />. <br />"Se ae(lule o, f Pei; forma o " means the schedule prepared and approved by the <br />Developer and the Agency Executive Director Within thirty days of the Date of Agreement <br />setting out the dates and/or time periods within which certain obligations set forth in this <br />Agreement must be accomplished, subject to Section 507 below. The Schedule of Performance <br />is subject to revision from time to time as mutually agreed upon in writing bet ween the <br />10 <br />Do CSOC1I 400673%,1312 00272-0001 <br />