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<br />EXHIBIT 3 <br />4.DEFINITIONS <br />“Affordable Rent” means monthly rent that does not exceed the amounts set <br />forth in Section 5.2 of these Restrictions. <br />“City Restriction Period” means a period of fifty-five (55) years after the date <br />on which the Certificate of Completion is issued. <br />“Chronically Homeless” means an individual or family who meets the definition <br />of “chronically homeless” under HUD regulations and guidance, including 24 C.F.R. § <br />578.3. <br />“Extremely Low Income” means an adjusted income that does not exceed thirty <br />percent (30%) of the area median income for the Orange County, California PMSA, <br />adjusted for household size, as published by HUD. <br />“Extremely Low Income Household” means an individual or family whose <br />income qualifies as Extremely Low Income, adjusted for household size, as published by <br />HUD. <br />“HOME-ARP Compliance Period” means a period of twenty (20) years from <br />the issuance of the Certificate of Completion, unless a shorter period is required by HUD <br />or the HOME-ARP Program. <br />“HOME-ARP Program” means the program established with the HOME- <br />American Rescue Plan (HOME-ARP) funds from the United States Department of <br />Housing and Urban Development ("HUD") under the Section 3205 of the American <br />Rescue Plan Act of 2021 (P.L. 117-2)) (“ARP) to be implemented through the HOME <br />Investment Partnerships Program (the "HOME Program") (42 U.S.C. §12701, et seq.,) <br />and governed in accordance with applicable statutory requirements, regulations, and <br />guidance, including but not limited to HUD Notice CPD-21-10 (the “HOME-ARP <br />Notice”) and the HOME Regulations (24 CFR Part 92). <br />“HOME-ARP Qualifying Populations” means any individual or family who <br />meets the eligibility criteria of a “qualifying population” of the HOME-ARP Program. <br />“HOME-ARP Units" the sixteen (16) units assisted under the HOME-ARP <br />Program and subject to the HOME-ARP Compliance Period. <br />“Limited Partner” means, collectively, the investor limited partner and special <br />limited partner of the Developer, and their respective successors and assigns. <br />“Low HOME Rent” means rent that does not exceed thirty percent (30%) <br />of the adjusted income of a household whose annual income is equal to or less than fifty <br />percent (50%) of the area median income for the Orange County, California PMSA, <br />adjusted for household size, as published by HUD for the HOME-ARP rent limits. <br />3 <br />WISEPlace Permanent Supportive Housing <br />City HOME-ARP Affordability Restrictions on Transfer of Property