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F. It is agreed by and between the Parties that the foregoing Recitals are a substantive part of this Agreement and the following terms and conditions are approved and together with the Recitals and all exhibits and attachments hereto, shall constitute the entire agreement between the Agency and Developer. NOW THEREFORE, the Agency and Developer hereby agree as follows: 100. DEFINITIONS "Affordable Housing Resale Restrictions"" means the document containing the covenants and restrictions pertaining to affordability of the Units for a term of at least forty-five (45) years running with the land, to be executed by the Agency and each Homebuyer and recorded against each of the Properties. The Affordable Housing Resale Restrictions, along with the legally required Notice, are attached hereto as Exhibit F and incorporated herein by this reference. "Affordable Housing Cost" means the maximum purchase price of an Affordable For- Sale Unit by a Low and Moderate Income Household pursuant to California Health and Safety Code Section 50052.5(b)(3) and 50052.5(b)(4). "Affordable Unit" means each of the Homes to be constructed and sold at an Affordable Housing Cost pursuant to this Agreement. "Agency" means the Community Redevelopment Agency of the City of Santa Ana, a public body, corporate and politic, exercising governmental functions and powers and organized and existing under Chapter 2 of the Community Redevelopment Law of the State of California, and any assignee of or successor to its rights, powers and responsibilities. "Agency's Conditions Precedent" means the conditions precedent to each Closing to the benefit of the Agency, as set forth in Section 205.1 hereof. "Agreement" means this Disposition and Development Agreement between the Agency and Developer. "Area Median Income" means the median income figures for Orange County adopted by the State of California pursuant to Health and Safety Code Section 50093, as amended from time to time. "City" means the City of Santa Ana, a charter city and municipal corporation. "Closing" means the close of escrow for the conveyance of the Sites in a Phase from the Agency to the Developer and shall occur at the time and on the day the Grand Deed is filed for record with the Orange County Recorder's Office. "Closing Date" means the day on which the Closing of a Phase occurs. "Condition of Title" is defined in Section 203 hereof. 2 EXHIBIT ~}