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within the Project Area, the Developer's construction and development of the Project on such <br />portion of the Site pursuant to this Agreement will be of benefit to the Agency's Merged Project, <br />the Project Area and its inhabitants as well as the remainder of the community. <br />K. The Project is vital to and in the best interest of the City and the health, safety and <br />welfare of its residents, and is in accordance with the public purposes of applicable state and <br />local laws and requirements. <br />NOW, THEREFORE, for and in consideration of the mutual promises, covenants, and <br />conditions herein contained, the parties hereto agree as follows: <br />100. DEFINITIONS. <br />"Abatement Report" is defined in Section 206.9. <br />"Actual Knowledge" means the actual knowledge of the Agency Executive Director <br />and/or William Witte of the Developer, without duty of further inquiry or investigation. With <br />respect to Developer, the identity of the officer to whom actual knowledge is attributed may <br />change upon any transfer by Developer pursuant to Section 602. Any such change shall be set <br />forth in the instrument signed by the Agency releasing Developer as contemplated by <br />Section 602.2. <br />"Additional Property" or "Additional Properties" means certain properties owned by <br />third parties as shown on the Site Map that the Agency may acquire and which will, if acquired <br />prior to (i) with respect to Phase FS within forty-five (45) days of each separate Closing of each <br />Portion or Phase of Phase FS, and (ii) with respect to Phases R-1 and R-2, at least forty-five (45) <br />days prior to the date of any submission of a Tax Credit application to TCAC be included in the <br />Conveyance with respect to such Phase. <br />"Additional Properties Notice" is defined in Section 207. <br />"Affordability fordability Period" as to a Rental Unit is defined in Section 401.2, and as to an <br />Affordable For-Sale Unit is defined in Section 402.3. <br />"Affordable For-Sale Unit(s)" means a For-Sale Unit (or multiple For-Sale Units) that <br />is/are restricted and sold by the Developer to Moderate Income Households pursuant to and <br />consistent with the terms of this Agreement. <br />"Affordable Horsing Cost" means the maximum purchase price of an Affordable <br />For-Sale Unit by a Moderate Income Household pursuant to Health & Safety Code <br />Section 50052.5. <br />"Affordable Rent" means the maximum monthly rent chargeable for a Rental Unit as <br />described in Section 401.5. <br />"Agency" means the Community Redevelopment Agency of the City of Santa Ana, a <br />public body, corporate and politic, exercising governmental functions and powers and organized <br />3 <br />D o C S 00 14 00673 v 14/200272-0001