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use and maintenance restrictions applicable to the Property and the Project and are intended to ensure long term affordability in accordance with the NSP Requirements. "NSP Documents" is defined in Recital B. "NSP Deed of Trust" means that certain City Deed of Trust and Assignment of Rents recorded against the Property in the Official Records on June 2, 2010 as Instrument No. 2010000258491, which secures repayment of the NSP Loan. "NSP Loan" means the loan made to the Developer by the City pursuant to that certain Neighborhood Stabilization Program Rental Housing Development Loan Agreement, dated as of June 1, 2010. Developer used the proceeds of the NSP Loan to pay the cost of acquiring the Property. "NSP Requirements" shall mean the requirements of the Housing and Economic Recovery Act of 2008 (Pub. L. 110-289) (HERA), including Title III of Division B of the Housing and Economic Recovery Act of 2008 titled Emergency Assistance for Redevelopment of Abandoned and Foreclosed Homes, as may be amended from time to time, and any existing or future regulations or requirements imposed by HUD, HCD or any other government agency in connection with the NSP. Unless stated otherwise in the HERA, the NSP Requirements also include Title I of the Housing and Community Development Act of 1974 (42 U.S.C. § 5301 et seq.) as amended from time to time, and the implementing regulations set forth in 24 CFR § 570 et seq. as amended from time to time. If any amendment to this Agreement is necessary to comply with the NSP Requirements, the parties shall cooperate in good faith to negotiate the terms of and enter into such amendment(s). "Official Records" means the official land records maintained by the Recorder of the County. "Partnership Agreement" means the Amended and Restated Limited Partnership Agreement of Santa Ana WBBB, LP, dated August 9, 2010, as it may be amended in accordance with the financing for the Project that is approved by the Executive Director pursuant to Section 311. "Project" means the construction of the Improvements upon the Property and the operation of the Project by Developer pursuant to this Agreement and the Project Documents. "Project Costs" means all costs of any nature incurred in connection with the Project in accordance with generally accepted accounting principles. "Project Documents" means this Agreement and the other Loan Documents, the NSP Documents, the Affordability Restrictions, and all other documents, agreements and instruments to be executed by Developer in furtherance of the Project. "Promissory Notes" means the Agency Promissory Note and the City Promissory Note. "Property" means that certain parcel of real property that is located at 605-611 East Washington in the City of Santa Ana, and is more fully described in the Legal Description of the Property attached hereto as Exhibit A, which is incorporated herein by reference. "Redevelopment Law" means the California Community Redevelopment Law, Health and Safety Code Section 33000, et seq., as it may be amended from time to time. DOCSOC/ 1469583 v5/200272-0003 8