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throughout the Affordability Period. The covenants are defined in this <br />Inclusionary Housing Agreement. <br />Affordability Period shall be set at 55 years from the Recordation Date. <br />Affordable Housing Cost means the maximum costs that can be borne by Low <br />Income Households based on the requirements imposed by HSC Section 50053. <br />The calculation methodology is described in Exhibit 7. <br />Affordable Rent shall mean the Affordable Housing Cost minus the applicable <br />Utilities Allowance for each Inclusionary Unit. <br />Applicable Provisions means those provisions of the Ordinance which shall <br />apply to the Project. Because the Project was otherwise exempt from the <br />Ordinance, it is necessary to clarify which sections of the Ordinance have been <br />made applicable to the Project by Section 5.9 of the DA. Those provisions are <br />Sections 4T 1901,1905 (a), (c), and -(d)1, 1906(a), (d), (e), (f), and (g), and 1910. <br />Should the rental units in the Project be sold as ownership units at any time <br />during -the AffordahilitVPeriod; then (i ec I n "I- c shall become an <br />"Applicable Provision" and (ii) Section 41- 1906(d) shall no longer be an <br />"Applicable Provision." <br />California Health and Safety Code ( "HSC ") provides definitions of household <br />income and affordable housing costs that are used in this Inclusionary Housing <br />Agreement. <br />City means the City of Santa Ana, California. <br />City Approvals are defined as the entitlement approvals and the Inclusionary <br />Housing Plan that has been approved by the Program Director prior to the <br />issuance of building permits for the Project. <br />City Council means the City of Santa Ana City Council. <br />Default means the failure of a Party to perform any action or covenant required <br />by this Inclusionary Housing Agreement within the time period provided herein <br />following notice and opportunity to cure, as set forth in Article 3 — Section I of this <br />Inclusionary Housing Agreement. <br />1 For purposes of this Inclusionary Housing Agreement, the words "fully implemented," as <br />used in Section 41- 1905(d) shall mean only that this Inclusionary Housing Agreement, including <br />the Inclusionary Housing Plan, has been approved by the City. <br />Inclusionary Housing Agreement — Rental Project Page 3 <br />City of Santa Ana 19H-5 September 18, 2014 <br />