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"Low Income" means an adjusted income which does not exceed eighty <br />percent (80%) of the area median income for the Orange County, California PMSG, <br />adjusted for household size, as published by HUD. <br />"Median Income for the Area" means the median income for the Orange <br />County, California PMSA as most recently determined by HUD. Also may be referred to <br />interchangeably in the Loan Documents as "Area Median Income" or "AMI". <br />"Partnership Agreement" means the Amended and Restated ��` <br />,"Limited Partnership C reemeta$ of Guest House LP dated �4areltl Novembejf 2016, as <br />said Partnership Agreement may be amended from time to time.. <br />"Permitted Encumbrances for the Affordable Housing Restrictions" <br />means, collectively, die Senior Loan Deed of Trust and all other title exceptions and <br />limitations with respect to the Property hereafter approved by the Executive Director in <br />writing. <br />"Permitted Encumbrances for the City Loan Deed of Trust" <br />means, collectively, the Senior Loan Deed of Trust and all other title exceptions and <br />limitations with respect to the Property hereafter approved by the Executive Director in <br />writing. <br />"Project" means the acquisition and rehabilitation of the Property by <br />Developer pursuant to this Agreement. <br />"Project Budget" means the line -item budget for the Project <br />attached hereto as Exhibit C, as modified from time to time in accordance with this <br />Agreement. <br />"Project Costs" means all costs of any nature incurred in connection with <br />the Project in accordance with generally accepted accounting principles. <br />"Property" means the Property that is located at 2151 E. first Street, <br />within the City of Santa Ana, and is more Hilly described in the "Legal Description" of the <br />Property attached hereto as Exhibit A and incorporated herein by reference. <br />"Senior Lender" means Citibank, N.A.or any other holder of the Senior <br />Loan Note(s). <br />"Senior Loan" shall mean the senior loan being made by Senior Lender <br />concurrent to the City Loan for payment of a portion of the acquisition and rehabilitation <br />costs, and shall include any subsequent loan that refinances the initial Senior Loan. <br />"Senior Loan Deed of Trust" means the deed of trust securing the <br />Senior Loan by encumbering the Property. <br />6 <br />25B-12 <br />