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"Indemnify" or "Indemnity" means to defend, indemnify and hold harmless. "Investor Limited ar r s " shall mean, the Tax Credit limited p artn r of the Developer or Developer's p rr i t t d assignee) for implementation of Phase -1 and Phase R-2 of the Project. The Agency acknowledges that Phase -1 and Phase R-2 . may have different Investor Limited Partners. "Land Use Approvals " is defined in S a cti on 303. "Legal sc * lio "means t h legal de rip Lion of the Agent Parcels attached hereto as Attachment No. 2 and incorporated herein by reference. "Moderate Income"' and "Moderate Income Households" means moderate income households as defined in Health & Safety Code Section 50093. "Monthly Housing Cost's mans, for a Moderate Income Household purchasing an Affordable For-Sale Unit, all of the following associated with such Affordable For-Sale Unit, estimated or known as of the date of the proposed sale: i principal and interest pa en t on a mortgage loan, including an loan insurance fees associated th rew i th (provided that if the mortgage loan obtained by the purchaser contains an adjustable interest rate, then the principal and interest payments shall be deemed to be those which would be due upon a mortgage loan amortized over a thirty-year period with an interest rate equal to prevailing market rates for thirty -year fixed -rate mortgage loans); (ii) property taxes and assessments; (iii) fire and casualty insurance covering replacement value of property improvements; iv homeowner association fees; and a reasonable utility allowance. The Monthly Housing Cost shall be an average of estimated costs for the next twelve 1 month period. "Mon th ly Rent" i s defi ne d i n Section 401.5. "Notice" shall mean a notice in the form prescribed by Section 60 1. ` "No Lice ofAffordab ility Restfiction -' i s d efined in S cc ti on 401.11. "Outside Clos ing Date "' means the Phase -1 Ou tside Cl os i ng D a t , t he Ph a se R-2 u tside Clos in g Date or the FS 0 u is ide Cl o si n g D a te* as app] ic a hl e. "'P r ersh * Agreement" m=s, with respect to each of Phase -1 and Phase R-2, an agreement that sets forth the teens of a limited partnership to which the Developer Transfers its rights, interest, and obligations in and to this Agreement with respect to the applicable Phase of the Rental Portion of the Project, as such agreement may be amended from time to time, so long as consistent with the requirements of this Agreement. The Partnership Agreements shall b entered into between or among the general partners and the Investor Limited Partner tha t comprise the limited partnership that Developer assigns its rights and obligations to with respect to each Phase of the Rental Portion of the Project. "Pit ase W " shall mean, ind ividually and a ollec tiv ly, Ph as -1, Ph as a R-2 an d Pius a F of the Project. "Phase(s) sometimes refers to "Portion or Phase(s)" Mere the context dictates. 8 D OCSOCI 14 0067 3 v 14/227 2-0001