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"Limited Partner" means the Limited Partners of Developer, <br />and their successors and assigns. <br />"Loan Documents" means, collectively, this Agreement, the City /HOME <br />Loan Note, the City/HOME Deed of Trust, the Affordability Restrictions on Transfer of <br />Property, and any other agreement, document, or instrument that the City requires in <br />connection with the execution of this Agreement or from time to time to effectuate the <br />purposes of this Agreement. <br />"Low Income" means an adjusted income which does not exceed eighty <br />percent (80 %) of the area median income for the Orange County, California PMSA, <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 "AMT ". <br />"Partnership Agreement" means the Agreement of <br />dated as said Partnership Agreement may be amended from time to <br />time. <br />"Permitted Encumbrances for the Affordable Housing Restrictions" <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 />"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, new construction and/or rehabilitation of <br />the Property by 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 <br />within the City of Santa Ana, and is more fully described in the "Legal Description" of the <br />Property attached hereto as Exhibit A and incorporated herein by reference. <br />"Senior Lender" means or any other holder of the <br />Senior Loan Note(s). <br />6 <br />25C -10 <br />