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SANTA ANA ARTS COLLECTIVE, L.P. (META HOUSING PROJECT)
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SANTA ANA ARTS COLLECTIVE, L.P. (META HOUSING PROJECT)
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Last modified
2/14/2018 2:53:31 PM
Creation date
8/24/2017 4:41:53 PM
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Contracts
Company Name
SANTA ANA ARTS COLLECTIVE, L.P. (META HOUSING PROJECT)
Contract #
A-2017-173
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
7/5/2017
Expiration Date
7/5/2047
Destruction Year
0
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and any other agreement, document or instrument that the Senior Lender requires <br />in connection with the Senior Loan. <br />"Senior Loan Note" means the promissory note evidencing the Senior <br />Loan from the Senior Lender. <br />"Term of Affordability" the terms and conditions contained herein shall <br />remain in effect for fifty-five (55) years from the date of issuance of the Certificate <br />of Completion. <br />"Very Low Income" means an adjusted income which does not exceed <br />fifty percent (50%) of the area median income for the Orange County, California <br />PMSA, adjusted for household size, as published by HUD. <br />1.2 Sineular and Plural Terms. Any defined term used in the plural in this <br />Agreement shall refer to all members of the relevant class and any defined term used in the <br />singular shall refer to any number of the members of the relevant class. <br />1.3 References and Other Terms. Any reference to this Agreement shall include such <br />document both as originally executed and as it may from time to time be modified. <br />References herein to Articles, Sections and Exhibits shall be construed as references to this <br />Agreement unless a different document is named. References to subparagraphs shall be <br />construed as references to the same Section in which the reference appears. The term <br />"document" is used in its broadest sense and encompasses agreements, certificates, <br />opinions, consents, instrurnents and other written material of every kind. The terms <br />"including" and "include" mean "including (include) without limitation." <br />1.4 Exhibits Incorporated. All attachments and exhibits to this Agreement, as now <br />existing and as the sarne may from time to time be modified, are incorporated herein by <br />this reference. <br />2. [RESERVED] <br />SCOPE OF WORK/PROJECT BUDGET <br />A "Scope of Work" and "Schedule of Performance" for the Property is attached <br />hereto as Exhibit H. Any material change to the Scope of Work/Schedule of Performance <br />requested by the Developer shall be subject to the prior written approval of the City Project <br />Manager. The Scope of Work/Schedule sets forth the construction work that shall be <br />performed on the Property and timeframes for approvals of such work. <br />A line -item budget for the Project, including a summary statement of sources and <br />uses of funds, is incorporated into Exhibit G (the "Project Budget"). Any material change <br />to the Project Budget requested by Developer shall be subject to the prior written <br />approval of the City Project Manager. <br />
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