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Senior Loan from Fanners and Merchants Bank. <br />"Term" the terms and conditions contained herein shall remain in effect <br />for fifty -five (55) years. <br />"Very Low Income" means an adjusted income which does not exceed <br />fifty percent (50 %) of the area median income for the Orange County, California PMSA, <br />adjusted for household size, as published by HUD. <br />1.2 Singular and Plural Terms. Any defined term used in the plural in this <br />Agreement or any other City Loan Document shall refer to all members of the relevant <br />class and any defined term used in the singular shall refer to any number of the members <br />of the relevant class. <br />1.3 References and Other Terms. Any reference to this Agreement or any <br />Loan Document shall include such document both as originally executed and as it may <br />from time to time be modified. References herein to Articles, Sections and Exhibits shall <br />be construed as references to this Agreement unless a different document is named. <br />References to subparagraphs shall be construed as references to the same Section in <br />which the reference appears. The term "document" is used in its broadest sense and <br />encompasses agreements, certificates, opinions, consents, instruments and other written <br />material of every kind. The terms "including" and "include" mean "including (include) <br />without limitation." <br />1.4 Exhibits Incorporated. All attachments and exhibits to this Agreement, <br />as now existing and as the same may from time to time be modified, are incorporated <br />herein by this reference. <br />[RESERVED] <br />SCOPE OF WORK/ PROJECT BUDGET <br />A "Scope of Work" for the Property is attached hereto as Exhibit B. Any material <br />change to the Scope of Work requested by the Developer shall be subject to the prior <br />written approval of the Executive Director. <br />A line -item budget for the Project, including a summary statement of sources and <br />uses of fiords, is incorporated into Exhibit C (the "Project Budget "). Any material change <br />to the Project Budget requested by Developer shall be subject to the prior written <br />approval of the Executive Director. <br />4. [RESERVED] <br />LOANS <br />A. CITY LOAN: <br />