25F - AGMT - 605-611 EAST WASHINGTON ST LOAN

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"Official Records" means the official land records maintained by the Recorder of the County. "Partnership Agreement" means the Amended and Restated Limited Partnership Agreement of Santa Ana WBBB, LP, dated August 9, 2010, as it may be amended in accordance with the financing for the Project that is approved by the Executive Director pursuant to Section 31 L. "Project" means the construction of the Improvements upon the Property and the operation of the Project by Developer pursuant to this Agreement and the Project Documents. "Project Costs" means all costs of any nature incurred in connection with the Project in accordance with generally accepted accounting principles. "Project Documents" means this Agreement and the other Loan Documents, the NSP Documents, the Affordability Restrictions, and all other documents, agreements and instruments to be executed by Developer in furtherance of the Project. "Promissory Notes" means the Agency Promissory Note and the City Promissory Note. "Property" means that certain parcel of real property that is located at 605-611 East Washington in the City of Santa Ana, and is. more fully described in the Legal Description of the Property attached hereto as Exhibit A, which is incorporated herein by reference. "Redevelopment Law" means the California Community Redevelopment Law, Health and Safety Code Section 33000, et seq., as it may be amended from time to time. "Release of Construction Covenants" has the meaning set forth in Section 310. "Retainage" is defined in Section 611. "Schedule of Performance" means the Schedule of Performance attached hereto as Exhibit J and incorporated herein, which sets forth the dates and/or time periods by which certain obligations set forth in this Agreement must be accomplished. The Schedule of Performance is subject to revision from time to time as mutually agreed upon in writing between the Developer and the Executive Director, and the Executive Director is authorized to make such revisions as he or she deems reasonably necessary. "Scope of Development' means the Scope of Development attached hereto as Exhibit K and incorporated herein, which describes the scope, amount and quality of development of the Improvements to be constructed by the Developer pursuant to the terms and conditions of this Agreement. "Senior Lender" means the state of federal financial institution that provides the Senior Loan, as approved by City pursuant to Section 311. "Senior Loan" shall mean the senior loan being made by the Senior Lender concurrent with the Agency Loan and the City Loan, for payment of a portion of the Project Costs, and shall include any subsequent loan that refinances the initial Senior Loan (as approved by the Executive Director). The Senior Loan shall consist of those related loan documents including, but not limited to the Senior Loan Agreement and the Senior Deed of Trust (collectively "Senior Loan Documents"). 250-14