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the Property, in the form attached hereto as Exhibit E, to be executed by Developer pursuant to Section 5.B.2 in order to secure the Loan Note. "City/HOME Loan Note" means that certain promissory note in the original principal amount of $1,199,869.00, in the form attached hereto as Exhibit F, and to be executed by Developer in favor of City to evidence the obligation of Developer to repay the City/HOME Loan. "Close of Escrow" shall mean the date upon which the City/HOME Loan Deed of Trust is recorded in the Official Records of the County. "Closing Statement" means the final statement of Developer's Escrow account for the purchase and sale of the Property pursuant to the Purchase Contract. "County" means the County of Orange, California. "Developer" means Guest House LP, a California limited partnership, its successors and assigns. "Developer's Representative" shall mean the Chief Executive Officer of the Administrative General Partner of Developer or his/her designee. "Event of Default" has the meaning set forth in Section 20.1. "Executive Director" means both the Executive Director of the Community Development Agency, or his/her designee. "Extremely Low Income" an adjusted income which does not exceed thirty percent (30%) of the area median income for the Orange County, California DMSA, adjusted for household size, as published by HUD. "General Partner(s)" means the General Partners of Developer, consisting of CDP Guest House LLC (Administrative General Partner) and Affordable Housing Alliance Il, Inc. Dba Integrity Housing (Managing General Partner) and their respective successors and assigns. "Governmental Authority" means any governmental or quasi govenunental agency, board, bureau, commission, department, court, administrative tribunal or other instrumentality or authority, and any public utility. "Hazardous Materials" means flammable materials, explosives, radioactive materials, hazardous wastes, toxic substances and similar substances and materials, including all substances and materials defined as hazardous or toxic wastes, substances or materials under any applicable law, including without limitation the Resource Conservation and Recovery Act, 42 U.S.C. §§ 6901 ct seMc ., and the Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. §§ 9601, et seq., as amended. 91