55C - RESO - SA ARTS COLLECTIVE - Laserfiche WebLink

Home Browse Search

secured by any Lien on any property or asset of such person (whether or not assumed by such person). "Indemnitees" has the meaning set forth in Section 14.5. "Laws" means all statutes, laws, ordinances, regulations, orders, writs, judgments, injunctions, decrees or awards of the United States or any state, county, municipality or other Governmental Authority. "Lien" means any lien, mortgage, pledge, security interest, charge or encumbrance of any kind (including any conditional sale or other title retention agreement, any lease in the nature thereof, and any agreement to give any lien or security interest). "Limited Partner" means the Limited Partners of Developer, and their successors and assigns. "Loan Documents" means, collectively, this Agreement, the HOME Loan Note, the HOME Deed of Trust, the Affordability Restrictions on Transfer of Property, and any other agreement, document, or instrument that the City requires in connection with the execution of this Agreement or from time to time to effectuate the purposes of this Agreement. "Low Income" means an adjusted income which does not exceed eighty percent (80%) of the area median income for the Orange County, California PMSA, adjusted for household size, as published by HUD. "Median Income for the Area" means the median income for the Orange County, California PMSA as most recently determined by HUD. Also may be referred to interchangeably in the Loan Documents as "Area Median Income" or "AMI". "Partnership Agreement" means the Second Amended and Restated Agreement of Limited Partnership of Santa Ana Arts Collective, L.P., dated in July 2017. "Permitted Encumbrances for the Affordable Housing Restrictions" means, collectively, the Senior Loan Deed of Trust and AHSC Deed of Trust and all other title exceptions and limitations with respect to the Property hereafter approved by the Executive Director in writing, which shall include all title exceptions set forth on City's title policy, all documents evidencing the State of California Housing and Community Development loan to encumber the Property and the TCAC Regulatory Agreement. "Permitted Encumbrances for the HOME Loan Deed of Trust" means, collectively, the Senior Loan Deed of Trust and all other title exceptions and limitations with respect to the Property hereafter approved by the Executive Director in writing which shall include all title exceptions set forth on City's title policy, all documents evidencing the State of California Housing and Community Development loan to encumber the Property and the TCAC Regulatory Agreement. 55C-136