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"HOME Compliance Period" is for a period of fifteen (15) years. <br />"HOME Program" has the meaning set forth in Recital "A" above <br />"HOME Regulations" has the meaning set forth in Recital "A" above. <br />"HUD" means the United States Department of Housing and Urban <br />Development and any successors or assigns thereof. <br />".Improvements" means all improvements and fixtures now and hereafter <br />comprising any portion of the Property, including, without limitation, landscaping, trees <br />and plant materials; and offsite improvements (including, without limitation, streets, <br />curbs, storm drains, and adjacent street lighting), <br />"Indebtedness" of a person means (a) all indebtedness for borrowed <br />money, (b) notes payable and drafts accepted representing extensions of credit, whether <br />or not representing obligations for borrowed money, (c) any obligation for the purchase <br />of property or services in excess of $10,000 in the aggregate that is (i) deferred for more <br />than six (6) months, or (ii) evidenced by a note or similar instrument, and ( d) all recourse <br />and all non-recourse indebtedness secured by any Lien on any property or asset of such <br />person (whether or not assumed by such person). <br />"Indemnitees" has the meaning set forth in Section 14.5. <br />"Laws" means all statutes, laws, ordinances, regulations, orders, writs, <br />judgments, injunctions, decrees or awards of the United States or any state, county, <br />municipality or other Governmental Authority. <br />"Lien" means any lien, mortgage, pledge, security interest, charge or <br />encumbrance of any kind (including any conditional sale or other title retention <br />agreement, any lease in the nature thereof, and any agreement to give any lien or security <br />interest). <br />"Limited Partner" means the Limited Partners of Developer„ and their <br />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 />5 <br />