HABITAT FOR HUMANITY OF ORANGE COUNTY (4)

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1.1.27 "Low Income Household" means a Household whose income does not exceed eighty percent (80%) of the area median income for the Orange County, California PMSA, adjusted for actual household size, as published by HCD, and in accordance with the definition of "low-income household" set forth in SAMC § 41-1901 and California Health and Safety Code § 50079.5. 1.1.28 "Notice of Affordability Restrictions" means the notice of affordability restrictions to prospective buyers, which shall have a term of at least forty-five (45) years, in the form attached hereto as Exhibit E. 1.1.29 "Program Director" has the day-to-day authority for making determinations related to the Administrative Procedures Manual. The Program Director will be appointed by the Executive Director for the City's Community Development Agency. 1.1.30 "Project" means that certain affordable residential development as more particularly described in Recital B and Section 2 of this Agreement. 1.1.31 "Property" means that certain real property more particularly described in the legal description in Exhibit A and improvements thereon, including each Affordable Unit. 1.1.32 "Regulatory Agreement" means this Affordable Housing Agreement and Declaration of Covenants and Restrictions. 1.1.33 "State Density Bonus Law" means Government Code sections 65915, et seq., as they exist on the Effective Date. 1.1.34 "Supportable Mortgage" means the mortgage amount that can be supported by a Low Income Household based on the Affordable Housing Cost calculations. The mortgage calculation is based on the prevailing market interest rate for a 30-year fully amortizing mortgage with a fixed interest rate. The Supportable Mortgage shall be determined in accordance with the City's Administrative Procedures Manual, provided that it should be determined for a Low Income Household consistent with the requirements of this Agreement and State Density Bonus Law. 1.1.35 "Unit" means a residential dwelling unit within the Project to be constructed or caused to be constructed by Developer pursuant to this Agreement. 1.2 Exhibits. The following documents are attached to, and by this reference made a part of, this Agreement: 1.2.1 Exhibit A: 1.2.2 Exhibit B: 1.2.3 Exhibit C: 1.2.4 Exhibit D: 1.2.5 Exhibit E: 1.2.6 Exhibit F: 1.2.7 Exhibit G: 55394, 00101 \42405923.1 Legal Description of the Property Affordable Housing Resale Restrictions City Deed of Trust City Promissory Note Notice of Affordability Restrictions Income Verification Form Certification of Continued Occupancy 7