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"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 /> "Moderate Income" and "Moderate Income Households" means moderate income <br /> households as defined in Health & Safety Code Section 50079.5, with Gross Income for the <br /> Household that does not exceed one hundred twenty percent(120%)AMI. <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"means 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 /> 2. HOMEBUYER'S REPRESENTATIONS AND WARRANTIES AS TO THE SALE OF <br /> THE PROPERTY TO HOMEBUYER. <br /> 2.1 Homebuyer represents and warrants to City that the financial and other <br /> information which Homebuyer has provided to City with respect to Homebuyer's income and the <br /> Page 32 <br /> Exhibit B <br /> 55394.00 10 1\43 724951. <br />