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"Event of Default" has the meaning set forth in Section 20.1. <br />"Executive Director" means the Deputy City Manager for <br />Development Services or designee. <br />"Extremely Low Income" means an adjusted income which does not exceed <br />thirty percent (30%) of the area median income for the Orange County, California PMSA, <br />adjusted for household size, as published by HUD. <br />"General Partner(s)" means the General Partners of Vista Del Rio. <br />"Governmental Authority" means any governmental or quasi <br />governmental agency, board, bureau, commission, department, court, administrative tribunal or <br />other instrumentality or authority, and any public utility. <br />"Hazardous Materials" means flammable materials, explosives, <br />radioactive materials, hazardous wastes, toxic substances and similar substances and materials, <br />including all substances and materials defined as hazardous or toxic wastes, substances or <br />materials under any applicable law, including without limitation the Resource Conservation and <br />Recovery Act, 42 U.S.C. §§ 6901 et sue., and the Comprehensive Environmental Response, <br />Compensation and Liability Act of 1980, 42 U.S.C. §§ 9601, et seq., as amended. <br />"HOME Compliance Period" means fifteen (15) years from the issuance of the <br />Certificate of Compliance or until payment of principal and all accrued interest on the HOME <br />Loan, whichever comes last. <br />"HOME Program" has the meaning set forth in Recital "A" above <br />"HOME Regulations" has the meaning set forth in Recital "A" above. <br />"HUD" means the United States Department of Housing and Urban Development <br />and any successors or assigns thereof. <br />"Improvements" means all improvements and fixtures now and hereafter <br />comprising any portion of the Property, including, without limitation, landscaping, trees and <br />plant materials; and offsite improvements (including, without limitation, streets, curbs, storm <br />drains, and adjacent street lighting). <br />"Indebtedness" of a person means (a) all indebtedness for borrowed <br />money, (b) notes payable and drafts accepted representing extensions of credit, whether or not <br />representing obligations for borrowed money, (c) any obligation for the purchase of property or <br />services in excess of $10,000 in the aggregate that is (i) deferred for more than six (6) months, or <br />(ii) evidenced by a note or similar instrument, and (d) all recourse and all non-recourse <br />indebtedness secured by any Lien on any property or asset of such person (whether or not <br />assumed by such person). <br />5 <br />80A-81 <br />