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"Phase R-2 Agency Loan" is defined in Section 314.1. <br />"Phase R-2 Outside Closing Date" means the last date the Phase R-2 Closing may occur <br />as described in Section 201.4. <br />"Portion(s) or Phase(s)" means the portion(s) or phases(s) of Phase FS being separately <br />conveyed. <br />"Project Area" means the project area for the Redevelopment Plan. <br />"Project" is defined in Recital F. <br />"Properly Manager" is defined in Section 401.9. <br />"Purchase Price" shall mean the price to be paid as consideration for the purchase of the <br />Site by the Developer from the Agency, as set forth in Section 201. <br />"RAP" is defined in Section 206.4. <br />"Redevelopment Plan" means the Redevelopment Plan for the Merged Redevelopment <br />Project as approved by Ordinance No. 2662-2667 adopted by the City Council of the City of <br />Santa Ana on September 20, 2004, as amended. <br />"Regulatory Agreement" means the Regulatory Agreement which is to be recorded as an <br />encumbrance of each Phase of the Rental Portion of the Project in a form which is attached hereto as <br />Attachment No. 7 and incorporated herein, in accordance with Section 401.11. The Regulatory <br />Agreement may sometimes be referred to herein as the "Agency Developer CC&Rs" or the <br />"CC&Rs." <br />"Release of Construction Covenants" means the document which evidences the <br />Developer's satisfactory completion of the Developer Improvements, as set forth in Section 313 <br />hereof, in the form of Attachment No. 6 hereto which is incorporated herein by reference. <br />"Remedial Work" is defined in Section 206.4. <br />"Rental Portion of the Project" means that portion of the Project that consists of the <br />Rental Units. The Rental Portion of the Project consists of four (4) lots as identified on the Site <br />Map and shall be constructed in two separate Phases (Phase R-1 and Phase R-2). <br />"Rental Unit" or "Rental Units" means the Housing Unit(s) that is/are constructed and <br />developed within the Rental Portion of the Project, all of which shall be rented or lease to <br />Extremely Low Income Households and/or Very Low Income Households as provided in this <br />Agreement. <br />"Report" means the preliminary title report, as described in Section 202 hereof. <br />"Revised Budget" means the revised development budget prepared by the Developer and <br />approved by the Agency Executive Director, acting in her reasonable discretion, prior to and as a <br />condition precedent to Closing of the applicable Phase of the Rental Portion of the Project and, <br />10 <br />DOCSOG 3 400673 441200272-000 1