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costs of title insurance premiums, documentary stamp taxes, escrow fees, recording charges, loan repayment charges and other costs reasonably incurred with respect to the Property, in each case actually paid by Borrower as a condition of the Sale. (ii) In the case of a Refinancing, the reasonable and necessary costs of consummating such Refinancing, including, without limitation, loan fees, loan repayment charges, costs of title insurance premiums, escrow fees, recording fees and attorneys' fees. "Extremely Low Income" means an adjusted income which does not exceed thirty percent (30%) of the area median income for the Orange County, California PMSA, adjusted for household size, as published by HUD. "Gross Revenues" shall mean all revenues and receipts of every kind actually received by Borrower from operating the Property, and all parts thereof, including, but not limited to, income from both cash and credit transactions, rental from leased and/or subleased spaces and parking fees and charges, but not including security deposits and other tenant deposits, except to the extent such deposits are forfeited to the Borrower under the tenant's lease. Gross Revenues also includes any casualty insurance proceeds in excess of those used to restore the Property, and any rental interruption insurance proceeds. Any credit consideration shall be included in Gross Revenues at the time cash proceeds (principal and/or other) are received. Borrower shall establish and maintain accounts for the Gross Revenues (the "Project Accounts") that are segregated from revenues and income received by Borrower from all other projects. Gross Revenues shall also include all interest earned on the Project Accounts, and shall specifically exclude any capital contributions made by the Investor Limited Partner. "Interest" shall mean that the NOTE shall bear simple interest at the rate of Three percent (3%) per annum, from the date of issuance of the Certificate of Occupancy/Completion. "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. "Operating Expenses" shall mean the stun of the following: (i) payments of principal and interest and all other charges relating to the Senior Loan(s); (ii) property management fee not to exceed 5% of gross rents; (iii) owner administration fee not to exceed 5% of gross rents which will include Investor Limited Partner local administration fee of $5,500 per year, which shall increase by 3% per year, and other fees payable to the General Partner pursuant to the Partnership Agreement; 80A-172