HABITAT FOR HUMANITY OF ORANGE COUNTY -2016

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attached units in the A -1 zone from 4 units to 5 units. NOW, THEREFORE, Developer and City hereby agree as follows: 1. Definitions. The following terms which are used herein shall have the following definitions: "Affordable Housing Cost" means a price which is established at a level which ensures that the monthly housing costs of (a) any Low Income Household purchaser which earns not greater than eighty percent (80 %) of the Area Median Income adjusted for household size, does not exceed the product of thirty percent (30 %) multiplied by seventy percent (70 %) of the Area Median Income adjusted for Household Size Appropriate to the Unit, and (b) any Low Income Household purchaser which earns not less than seventy percent (70 %) or more than eighty percent (80 %) of Area Median Income adjusted for household size, the payment of which does not exceed thirty percent (30 %) of the gross income of such purchaser. Such housing costs (including mortgage payments, a reasonable utility allowance and similar costs) shall not exceed the maximum amount applicable to lower income households pursuant to California Health and Safety Code section 50052.5. Such housing costs (including mortgage payments, a reasonable utility allowance and similar costs) shall not exceed the maximum amount applicable to low income households pursuant to California Health and Safety Code Section 50052.5(b)(3). "Affordable Unit" is defined in Recital D of this Agreement. "Agreement" means this Density Housing Bonus Agreement between the City and the 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. "Household Size Appropriate for Unit" for the purpose of determining Affordable Housing Cost only, means three persons for a two bedroom Affordable Unit and four persons for a three bedroom Affordable Unit. Household Size Appropriate for Unit is not intended to constitute a limitation on the number of persons who may live in the Unit. "Low Income Household" shall mean a person and family whose income does not exceed the qualifying limits for lower income families in Orange County as established by the State of California pursuant to Health and Safety Code section 50079.5, as such qualifying limit is amended from time to time. "Developer" shall mean Habitat for Humanity of Orange County, a California nonprofit public benefit corporation. "Project" means the construction of five (5) for -sale condominium units, including one (1) Affordable Unit, the sale thereof to a qualified purchaser of the Affordable Unit at an Affordable Housing Cost and any other activities undertaken in connection therewith. 2. Provision of Affordable Ownership Housing. One for -sale, condominium residential unit which is required to be developed as part of the Project shall be sold to a Low Income Household at the pricing set forth in paragraph 3 hereof.