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2. Definitions. <br />For the purpose of calculating the payments to be made by Borrower to Agency pursuant <br />to this Note, the following terms shall have the following respective meanings: <br />"Agency Assisted Units" shall mean those rental units purchased and rehabilitated on <br />Eligible Properties which are subject to the term of affordability. <br />"Agency Funds" shall mean the money provided by the Housing Successor Agency for <br />the construction of the rental units hereunder. <br />"Agency Deed of Trust" shall mean the Agency Deed of Trust in favor of the Agency, <br />securing the Agency Loan, substantially in the form attached to the Agreement as Exhibit D, <br />which is incorporated herein by this reference. <br />"Agency Lo " shall mean the loan evidenced by this Note repayable to the Agency in <br />accordance with the terms of this Note and secured by the Agency Deed of Trust. <br />"Agency's Percentage" with reference to the Residual Receipts, shall mean fifty percent <br />(50%) of the total Residual Receipts from the Property as further described in Section 5 hereof. <br />"Agreeme " means the Agency Loan Agreement between the Agency and the <br />Developer, and any attachments or amendments thereto. <br />"Applicable Law" shall mean those federal, state and local laws, ordinances, regulations, <br />policies and procedures applicable to the Agency Housing Program, and the Agency Funds. <br />"Area Median Income" means the median income figures for Orange County as <br />published by the California Department of Housing and Community Development (HCD). Also <br />may be referred to as "AMI" herein. <br />"Borrower" means AMCAL 1440 Santa Ana Fund, L.P., a California limited partnership. <br />"Calendar Year" means each consecutive twelve (12) month period from January I to <br />December 3 1. <br />"Closing Cost " shall mean: <br />G) In the case of a Sale, reasonable brokerage commissions payable to a broker as a <br />result of the Sale, which shall not in any event exceed the customary amount charged -for similar <br />transactions in the immediate market place, costs of title insurance premiums, documentary <br />stamp taxes, escrow fees, recording charges, loan repayment charges and other costs reasonably <br />incurred with respect to the Property, in each case actually paid by Borrower as a condition of <br />the Sale. <br />80A-200 <br />