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City means the City of Santa Ana, California. <br />City Deed of Trust means a deed of trust, that secures the Owners obligation to <br />comply with the obligations imposed by the Inclusionary Housing Covenant <br />Declaration, <br />City's Purchase Option means the irrevocable option that the Owner must offer <br />to the City under the circumstances defined In Article 3 — Section I I of the <br />Inclusionary Housing Covenants Declaration, <br />Eligible Purchaser shall mean a Homebuyer who meets the eligibility criteria set <br />forth in the Administrative Procedures, <br />Exempt Transfer means the following: <br />1 A transfer resulting from the death of the Owner; <br />A transfer by the Owner where the spouse or domestic partner becomes a <br />co-owner of the Inriusionary Unit; <br />2. A transfer of title to a spouse or domestic partner as part of divorce or <br />dissolution proceedlngs; and <br />A transfer by the Owner into a trust in which the Owner or Owners are <br />beneficiaries, provided that the Owner or Owners continue to maintain the <br />Inclusionary Unit as s their Primary Residence. <br />A transfer by the Owner of a non-possessory interest in the Property, such <br />as an easement or license for utilities or other like purposes; the granting <br />of ingress or egress rights over or across the Property or a portion thereof; <br />or a modification to the non-exclusive common area rights of any Owner <br />located in a common interest subdivision development, <br />5. A condemnation, or conveyance in lieu of condemnation, that does not <br />preclude the Owner's continued use and occupancy of the Incluslonary <br />Unit, such as a street widening or other incidental taking that does not <br />preclude continued occupancy of the Inclusionary Unit, or a taking of an <br />interest in a portion of the common area appurtenant to any Inclusionary <br />Unit located in a common interest development. <br />Extraordinary Sale means a sale of the Incluslonary Unit to a buyer who is not <br />an Eligible Purchaser, when an Eligible Purchaser has not been secured within <br />IndusimaTy Housing Covenapts C�dqradon Rap 5 <br />Assumption Agreement January d i I'l <br />32A -129 <br />