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incorporated into the development, providing a computer laboratory, kitchen, activity room for resident activities, and office space for property management and social services staff. Developer will engage a qualified non -profit organization approved by the City (of which LifeSTEPS is hereby approved by the City) to provide free on -site social services to Project tenants. Services will be provided in the form of classes and workshops with the subject matter tailored by a social service coordinator to the specific needs of the community. C. The City of Santa Ana ( "City ") and the Housing Authority of the City of Santa Ana ( "Housing Authority ") reviewed Developer's request for assistance and at the City Council/Housing Authority meeting on December 20, 2016, the Housing Authority Board authorized and approved issuance of a conditional, pre - commitment letter evidencing the preliminary award of $6,195,000 of funds to the Project ( "Agency Loan "), to be funded exclusively from the Low and Moderate Income Housing Asset Fund (the "LMIHAF ") held by the Agency. D. The amount of the Agency Loan was determined based upon the City and Agency's review of the Developer's request for the receipt of the Agency Loan and the development proforma and projected cash flows for the Project submitted by the Developer to the City /Agency as of March 18, 2016 ( "Proforma "). The Housing Authority's Executive Director has authority to approve revised development proformas and projected cash flows for the Project; provided, however, that the Agency Loan is not materially increased or extended. E. In furtherance of the CRL and the Redevelopment Plan, Developer has applied to the Agency for a loan with which to: 1. Provide deeper affordability and construct the improvements to the Property, and 2. Thereafter to maintain, operate and professionally manage the Project as decent, safe, sanitary and affordable rental housing. F. The Agency, on certain terms and conditions, desires to make such Agency Loan to Developer in order to make possible the construction of the Project, thereby expanding the supply of decent, safe, sanitary and affordable housing. G. If there is any inconsistency between Federal, State, and local guidelines with regard to any of the terms and conditions contained herein, the more stringent shall apply. H. The Agency Loan Agreement, Agency Deed of Trust, and Agency Promissory Note, dated concurrently herewith (collectively the "Agency Loan Agreements ") are entered into for the purpose of providing for affordable very low income residential rental units in the City of Santa Ana pursuant to the Agency Funds regulations and guidance. NOW, THEREFORE, AGENCY AND OWNER COVENANT AND AGREE AS FOLLOWS: 1. Definitions 80A -176