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Senior Lender means a bank, savings and loan association, Insurance <br />company, pension fund, publicly traded real estate investment trust, <br />governmental agency, charitable organization or other governmentally regulated <br />entity regularly engaged in making residential real estate loans. <br />Senior Loan means a purchase money loan of funds to be used by the <br />Homebuyer for financing the acquisition of the Inclusionary Unit, or a refinancing <br />approved by the City, which loan Is in a lien position prior to the Inclusionary <br />Housing Covenants Declaration, <br />Supportable Mortgage Means the mortgage amount that can be supported by a <br />Moderate Income Household based on the Affordable Housing Cost calculations. <br />The mortgage calculation is based on the prevailing market interest rata for a 30- <br />year fully amortizing mortgage with a fixed Interest rate, See Section VI-13 of the <br />Administrative Procedures !Manual for an explanation of the calculation <br />methodology. <br />Trustee means the title company that insures title for the Inclusionary Unit that is <br />subject to the City Deed of Trust. <br />Trustor means the Trustor that enters into the City Deed of Trust that secures <br />the City Shared Appreciation Loan, <br />htcluslnna y Housing Covenants Dedararwin <br />Assumption Agrecrnont <br />75A -173 <br />-- rage <br />August 11, 2014 <br />