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<br />Page | 8 <br />4894-6811-3695v.2 0017787-000542 <br />construct the Improvements. The legal description of the Premises is attached hereto as Exhibit A. <br />A rendering showing the approximate boundaries of the Premises is attached hereto as Exhibit A-1. <br /> <br />1.1.46. “Project” shall mean the Improvements, and all related appurtenances, <br />constructed by Tenant on the Premises. <br /> <br />1.1.47. “Rent” shall mean and includes the County Base Rent, the Agency Base <br />Rent, and Additional Rent payable by Tenant under this Lease. <br /> <br />1.1.48. “Residual Receipts” means the Annual Project Revenue less (A) Annual <br />Operating Expenses (hereinafter defined), (B) obligated debt service on Leasehold Mortgages for the <br />funding of the Improvements approved in writing by the Lessor at the closing of the construction and <br />permanent financing for the Improvements or as permitted hereunder or otherwise approved pursuant <br />to Section 17.2, below, (C) payment obligations approved in writing by the Lessor at the closing of <br />the construction financing for the Improvements, (D) Partnership Related Fees (including accrued by <br />unpaid Partnership Related Fees from the prior year or years), (E) repayment of loans, if any, made <br />by Limited Partner to Tenant for development and/or operating expense deficits on terms reasonably <br />acceptable to Lessor, (F) repayment of loans, if any, made by a general partner of Tenant solely for <br />development and/or operating expense deficits on terms reasonably acceptable to Lessor, (G) <br />deferred developer fee, and (H) scheduled deposits to reserves approved in writing by the Lessor at <br />the closing of the construction financing for the Improvements (or such higher reserve deposits as <br />may be reasonably required by any Leasehold Mortgagee). <br /> <br />1.1.49. “Risk Manager” shall mean the Manager of County Executive Office, Risk <br />Management, County of Orange, or designee, or upon written notice to Tenant, such other person as <br />may be designated by the Board of Supervisors and the Risk Manager for the City of Santa Ana, or <br />designee, or upon written notice to Tenant, such other person as may be designated by the City <br />Council. <br /> <br />1.1.50. “Taxes” is defined in Section 3.11.2. <br /> <br />1.1.51. “TCAC” is defined as the California Tax Credit Allocation Committee. <br /> <br />1.1.52. “Tenant Group” shall mean Tenant and Tenant’s Affiliates, agents, <br />employees, members, officers, directors and attorneys. <br /> <br />1.1.53. “Tenant Ownership Change” shall mean (a) any transfer or assignment by <br />Tenant of the Leasehold Estate or (b) any “Aggregate Transfer” of at least twenty five percent (25%) <br />of the “Ownership Interest(s)” in Tenant, in each case that is not an “Excluded Transfer.” <br /> <br />1.1.54. “Tenant’s Partnership Agreement” shall mean Tenants Amended and <br />Restated Agreement of Limited Partnership dated as of _______________. <br /> <br />1.1.55. “Term” is defined in Section 2.2. <br /> <br />1.1.56. “Transfer” is defined in Section 10.1.1. <br /> <br />1.1.57. “Transfer Notice” is defined in Section 10.4. <br />EXHIBIT 15