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2. thereafter to maintain, operate and professionally manage the Property <br />as decent, safe, sanitary and affordable rental housing. <br />G. City, on certain terms and conditions, desire to make such loan <br />to Developer in order to make possible the acquisition, construction and/or rehabilitation of <br />the Property, thereby eliminating blight while expanding the supply of decent, safe, sanitary <br />and affordable housing. <br />H. If there is any discrepancy between Federal and State guidelines with regard <br />to any of the terms and conditions contained herein, the more stringent shall apply. <br />L The Loan Agreement and all of its attachments shall be enforceable by <br />City in accordance with the terms thereof. Each of the Loan Agreement, the <br />Affordability Restrictions on Transfer of Property, the City/HOME Loan Note and the <br />City /HOME Deed of Trust provide a means of enforcement by the City if Developer is in <br />breach of its obligations hereunder and thereunder, including liens on the Property, use <br />and deed restrictions and covenants running with the land (24 CFR 92.504 (c) (13)]. <br />NOW, THEREFORE, for and in consideration of the mutual covenants and <br />agreements herein contained, City and Developer agree as follows: <br />1. DEFINITIONS AND INTERPRETATION <br />1.1 Defined Terms. All capitalized terms used herein, including, without <br />limitation, in the Recitals above and in all other Project Documents, unless otherwise <br />expressly defined, are defined where first used in this Agreement and/or as set forth in <br />this Article 1, <br />"Affordable Housing" means housing operated in accordance with the <br />requirements of 24 CFR 92.252 and the rents governed by HUD. <br />"Affordability Restrictions on Transfer of Property" means that <br />certain document affecting real property benefiting the City, attached hereto as Exhibit G. <br />"Affordable Rent" means the monthly rents that are set forth in more <br />detail in Section 7 of this Agreement. <br />"Building Permit" means the building permit(s) issued by City and <br />required for the constriction and/or rehabilitation, if any. <br />"Business Day" means any Monday, Tuesday, Wednesday, Thursday or <br />Friday on which Santa Ana City Hall is open to the public for the conduct of City affairs. <br />"Calendar Year" means each consecutive twelve (12) month period from <br />.January 1 to December 31, <br />"Certificate of Completion" has the meaning set forth in Article 17. <br />3 <br />25C -7 <br />