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DRAFT <br /> (e) A reasonable utility allowance, as detennined by the Orange County <br /> Housing Authority; and <br /> (f) Homeowner Association assessments and dues. <br /> "Legal Description"means the legal description of the Property which is attached hereto <br /> as Exhibit A and incorporated herein. <br /> "Median Income"means the area median income for Orange County PMSA, adjusted <br /> for family size appropriate to the unit pursuant to California Health and Safety Code § <br /> 50052.5(h), as periodically published by the California Department of Housing and Community <br /> Development. <br /> "Very Low Income and Very Low Income Households" means a Household whose <br /> income does not exceed fifty(50%) of the area median income for the Orange County, California <br /> PMSA, adjusted for household size, as published by HCD. <br /> "Notice of Intent to Transfer" means a written notice from Homebuyer to the City that <br /> provides notice of an intent to Transfer the Property and all information required by this Agreement <br /> in connection with the proposed Transfer. <br /> "Permitted Transfer"mcans any.Transfer which is permitted under this Agreement with <br /> the written consent of the City. <br /> "Prohibited Transfer"means any Transfer which is disapproved by the City or violates <br /> this Agreement. <br /> "Property"means that certain real property located at the street address set forth in Recital <br /> A and legally described in the Legal Description. <br /> "Purchase Agreement"means that certain agreement pursuant to which Homebuyer has <br /> agreed to purchase the Property from the Developer. <br /> "Request for Notice"means the Request for Notice of Default attached hereto as Exhibit <br /> I and incorporated herein. <br /> "Sales Price"means the sum to be paid by a Transferee for the Transfer of the Property. <br /> "Transfer" shall mean any sale, assignment, conveyance, lease or transfer, voluntary or <br /> involuntary, of any interest in the Property. Without limiting the generality of the foregoing, <br /> Transfer shall include(i) a transfer by devise,inheritance or intestacy;(ii) creation of a life estate; <br /> (iii) creation of a joint tenancy interest; (iv) a gift of all or any portion of the Property; or(v) any <br /> voluntary conveyance of the Property. <br /> "Transferee"shall mean any natural person or entity who obtains ownership or possessory <br /> rights in the Property pursuant to a Transfer. <br /> Page 30 k� <br /> i <br /> Exhibit B <br /> 55394.00101143423340.1 <br /> I <br /> I <br /> i <br /> I <br />