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25F - AGMT - 605-611 EAST WASHINGTON ST LOAN
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25F - AGMT - 605-611 EAST WASHINGTON ST LOAN
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1/3/2012 3:51:30 PM
Creation date
3/3/2011 11:03:58 AM
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City Clerk
Doc Type
Agenda Packet
Item #
25F
Date
3/7/2011
Destruction Year
2016
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"Senior Loan Deed of Trust" means the deed of trust securing the Senior Loan by <br />encumbering the Property. <br />"Senior Loan Documents" means, collectively, the Senior Loan Agreement governing the <br />Senior Loan, the Senior Loan Note, the Senior Loan Deed of Trust, and any other agreement, <br />document or instrument that the Senior Lender requires in connection with the Senior Loan. <br />"Senior Loan Note" means the promissory note evidencing the Senior Loan. <br />"Site Map" means the map depicting the Site which is attached hereto as Exhibit B and <br />incorporated herein. <br />"Site Plan" means the Site Plan depicting the Improvements which is attached hereto as <br />Exhibit C and incorporated herein. <br />"Tax Credits" is defined in Recital G. <br />"Term," "Term of Affordability" and "Affordability Period" shall mean the term of <br />effectiveness of this Agreement and the Affordability Restrictions, which shall each remain in effect <br />for not fewer than fifty-five (55) years from the issuance of the final Certificate of Occupancy for the <br />Project. <br />"Very Low Income" means an adjusted income which does not exceed fifty percent (50%) <br />of the Area Median Income for the Orange County, California PMSA, as adjusted for household size, <br />and periodically published by HUD, as such qualifying limit is amended from time to time. <br />102. Singular and Plural Terms. Any defined term used in the plural in this Agreement <br />or any other Loan Document shall refer to all members of the relevant class and any defined term <br />used in the singular shall refer to any number of the members of the relevant class. <br />103. References and Other Terms. Any reference to this Agreement or any Loan <br />Document shall include such document both as originally executed and as it may from time to time <br />be modified. References herein to Articles and Sections shall be construed as references to this <br />Agreement unless a different document is named. References to Exhibits shall be construed as <br />references to the exhibits attached to this Agreement unless a different document is named. <br />References to subparagraphs shall be construed as references to the same Section in which the <br />reference appears. The term "document" is used in its broadest sense and encompasses agreements, <br />certificates, opinions, consents, instruments and other written material of every kind. The terms <br />"including" and "include" mean "including (include) without limitation." <br />104. Exhibits Incorporated. All attachments and exhibits attached to this Agreement, as <br />now existing and as the same may from time to time be modified, are incorporated herein by this <br />reference. <br />200. PROJECT BUDGET <br />A line-item budget for the Project, [including a summary statement of sources and uses of <br />funds and a projected cash flow showing repayment of the Loans,] is included in Exhibit D ("Project <br />Budget"). Developer shall submit a final, updated Project Budget to Agency/City for approval by the <br />Executive Director as a Condition Precedent to the initial disbursement of any proceeds of the Loans. <br />250-15
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