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1.1.6 "Affordable Housing Resale Restrictions" means the restrictions <br /> imposed on each Affordable Unit that restrict sales to qualified Eligible Households pursuant to a <br /> local preference for families who live or work in the City of Santa Ana at an Affordable Sales <br /> Price, in the form of Exhibit B attached hereto. <br /> 1.1.7 "Affordable Sales Price" means the maximum sales price that can be <br /> charged for an Affordable Unit as set forth in Section 3.3.1. <br /> 1.1.8 "Affordable Units(s)" means the four(4) unit(s), which shall comprise of <br /> two (2)three-bedroom units and two (2) four-bedroom units, which always must be proportionate <br /> to the unit mix for the property. Any change to the number,bedroom size,location, or distribution <br /> of Affordable Units is subject to City Manager approval. <br /> 1.1.9 "Agreement" means this Density Bonus Housing Agreement With <br /> Declaration of Covenants, Conditions and Restrictions. <br /> 1.1.10 "Benchmark Down Payment" is a component of the Affordable Sales <br /> Price calculations. For the purposes of this Agreement, the Benchmark Down Payment is set at <br /> 5% of the total Affordable Sales Price. The Benchmark Down Payment is used solely as a <br /> component for determining the Affordable Sales Price for an Affordable Unit.It does not represent <br /> a cap on the down payment amount that can be contributed by a Homebuyer. <br /> 1.1.11 "Certificate of Occupancy" means a certificate or approval of a final <br /> inspection from the City. <br /> 1.1.12 "City"means the City of Santa Ana, California. <br /> 1.1.13 "City Attorney" means the City Attorney for the City of Santa Ana. <br /> 1.1.14 "City Council"means the City Council of the City of Santa Ana. <br /> 1.1.15 "City Deed of Trust" means the deed of trust to be executed by the <br /> Homebuyer and recorded against Affordable Unit the Homebuyer's obligations under the City <br /> Promissory Note, substantially in the form attached hereto as Exhibit D. <br /> 1.1.4 6 "City Manager" means the City Manager for the City of Santa Ana. <br /> 1.1.17 "City's Planning Commission" means the Planning Commission for the <br /> City of Santa Ana. <br /> 1.1.18 "City Promissory Note" means the promissory note executed by the <br /> Homebuyer evidencing Homebuyer's agreement to pay the City Equity Share, substantially in the <br /> form attached hereto as Exhibit C. <br /> 1.1.19 "Density Bonus Application" shall mean the Density Bonus Application <br /> No. 2024-02 for the Project. <br /> Page 3 <br /> 553 94.00101\43724951.1 <br />