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'Senior Lender means a bank, savings and loan association, insurance <br />company, pension fund, publicly traded real estate investment trust, <br />governmental agency, charitable organization or other governmentally regulated <br />entity regularly engagers in making residential real estate loans. <br />Senior Loan means a purchase money loan of funds to be used by the <br />Homebuyer for financing the acquisition of the Incluslonary Unit, or a refinancing <br />approved by the City, which loan is in a lien position prior to the Inclusionary <br />Housing Covenants Declaration. <br />Supportable Mortgage means the mortgage amount that can be supported by a <br />Moderate Income Household based an the Affordable Housing Cost calculations. <br />The mortgage calculation is based on the prevailing market interest rate for a 30- <br />year fully amortizing mortgage with a fixed interest rate. See Section Vl -B of the <br />Administrative Procedures Manual for an explanation of the calculation <br />methodology. <br />Trustee means the title company that insures title for the Inclusionary Unit that is <br />subject to the City Geed of Trust, <br />Trustor means the Truster that enters Into the City Deed of Trust that secures <br />the City Shared Appreciation Loan, <br />Indusiboary Housing Covanar7 {s [ adneslion Page T <br />Assumption Agreamen! January 2015 <br />25G -95 <br />