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"AHSC Loan Documents" means, collectively, the loan agreement governing the <br />AHSC, the AHSC Note, the AHSC Deed of Trust, and any other agreement, document or <br />instrument that the Senior Lender requires in connection with the AHSC Loan. <br />"Affordable Housing" means housing operated in accordance with the requirements of <br />24 CFR 570. <br />"Affordable Rent" means the monthly rents which do not exceed the maximum <br />amount applicable to Extremely Low, Very Low and Low Income households, as promulgated <br />by the U.S. Department of Housing and Urban Development (HUD), or by the California Tax <br />Credit Allocation Committee, as applicable. <br />"Agreement" means this Affordability Restrictions on Transfer of Property between the <br />City and the Owner affecting real property. <br />"AHSC Loan" means a permanent loan of Affordable Housing and Sustainable <br />Communities program funds from HCD, awarded to and the sole responsibility of Borrower, <br />administered by the California Strategic Growth Council in the amount of $4,944,130 <br />"AHSC Deed of Trust"' means the any deed(s) of trust securing the AHSC Loan <br />encumbering the Property. <br />"AHSC Documents" means, collectively, the loan agreement governing the AHSC, the <br />AHSC Note, the AHSC Deed of Trust, and any other agreement, document or instrument that the <br />Senior Lender requires in connection with the AHSC Loan. <br />"Applicable Law" shall mean those federal, state and local laws, ordinances, regulations, <br />policies and procedures applicable to the CDBG Funds and Inclusionary Funds. <br />'Building Permit' means the building permit(s) issued by City and required <br />for the construction, if any. <br />"Business Day" means any Monday, Tuesday, Wednesday, Thursday or Friday on which <br />Santa Ana City Hall is open to the public for the conduct of City affairs. <br />"Calendar Year" means each consecutive twelve (12) month period from <br />January I to December 31. <br />"Certificate of Completion" has the meaning set forth in Article 17. <br />"City" means the City of Santa Ana, California, a charter city and municipal <br />corporation. <br />"CDBG Deed of Trust' means the deed of trust encumbering the Property, in the <br />form attached as Exhibit E to the Loan Agreement, to be executed by Owner pursuant to <br />Section 5.B.2 in order to secure the CDBG Loan Note. <br />55C-57 <br />