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"Building Permit" means the building and grading permit(s) to be issued by City and required for the construction of the Improvements. "Business Day" means any Monday, Tuesday, Wednesday, Thursday or Friday on which Santa Ana City Hall is open to the public for the conduct of City affairs. "Calendar Year" means each consecutive twelve (12) month period from January 1 to December 31. "City" is defined in the preamble hereto. "City Loan" means the loan to be made to Developer by City solely from HOME Program funds. "City Deed of Trust" means the deed of trust encumbering the Property, in the form attached hereto as Exhibit H-2, to be executed by Developer in order to secure the City Promissory Note. "City Promissory Note" means that certain promissory note in the original principal amount of $2,500,000, in the form attached hereto as Exhibit G, which shall be executed by Developer in favor of City to evidence the obligation of Developer to repay the City Loan through residual receipts as further described in the City Promissory Note. "Conditions Precedent" means the conditions precedent to the disbursement of any portion of the proceeds of the Loans, including the initial disbursement and the final disbursement of the Retainage, as set forth in Sections 601, 602 and 603. "Construction Contract" means each and every contract between Developer, the General Contractor, and/or any subcontractor for the construction of the Improvements, or any part thereof, including construction of any on-site or off-site improvements included in the Scope of Development, the land use entitlement approved by the City, and the approved Design Development Drawings. The Construction Contract between Developer and the General Contractor shall be for a fixed fee to complete all work to be performed or caused to be performed by the General Contractor under such Construction Contract. Each Construction Contract shall be reviewed and reasonably approved (or disapproved) by Executive Director, with each contract to include: (i) a full recitation of Section 3 and the Section 3 Clause with an express acknowledgement and agreement by the General Contractor and each subcontractor, as applicable, to fully comply with the Section 3 Clause, (ii) an express acknowledgement and agreement by the General Contractor and each subcontractor, as applicable, that as a Condition Precedent to the final payment under its contract, the General Contractor or subcontractor, as applicable, shall provide written evidence, in form reasonably satisfactory to the Executive Director and/or HUD, that it and all its subcontractor(s) have complied with the Section 3 Clause in completing the development of the Project, and (iii) reference to all other applicable federal regulations and laws based on the final federal funding sources, if any, to which such General Contractor or subcontractor, as applicable, must comply in undertaking the construction and development of the Project; provided it is understood by the parties that it is and shall remain primarily the Developer's obligation to obtain and submit all required Section 3 Clause documentation. The Construction Contract shall include any and all provisions required by the Redevelopment Law, the HOME Regulations, and the NSP Requirements, as applicable. "County" means the County of Orange, California. 4 DOCSOC/ I469583v5/200272-0003