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As used in this i nclusionary Housing Covenants Declaration, the terms set forth <br />below shall have the following meanings: <br />Adjusted Household Size Appropriate for the Unit is based on the H&SC <br />Section 500152,5 definition, and is only used in the Affordable Housing Cost <br />calculations. For Affordable Housing Cost calculation purposes, the household <br />size is set at one person in the case of a studio unit, two persons in the cage of a <br />one-bedroom unit, three persons in the case of a two-bedroom unit, four persons <br />in the case of a three-bedroom unit, and five persons in the case of a four <br />bedroom unit. This household size standard is used in the Affordable Housing <br />Cost calculations; It Is not an occupancy limit <br />Administrative Procedures means the Affordable Ownership Housing <br />Administrative Procedures promulgated by the Executive Director pursuant to the <br />Ordinance. <br />Administrative Procedures Manual is the Affordable Ownership Housing <br />Administrative Procedures Manual — Owner Requirements dated January 2015, <br />which has been prepared by the City for the implementation and enforcement of <br />the Ordinance. A copy of the Administrative Procedures Manual shall be <br />maintained on file with the City, and shall be provided to each Homebuyer of an <br />Incluslonary Unit. <br />Affordable Housing Cost means Use maximum costs that can be borne by <br />Moderate Income Household based on the requirements Imposed by H&$C <br />Section 50052.5. The Calculation methodology is described in' Section VI of the <br />Administrative Procedures Manual, <br />Affordability Period shall be set at 45 years in the Inclusionary Housing <br />Covenant Declaration recorded on legal title to the Incluslonary Unit, The <br />covenant period Is set at 45 years following the date of the first sale of the <br />I ncluslonary Unit, <br />Affordable Sales Price means the maximum price that can be charged for an <br />Incluslonary Unit, The Affordable Sales Price is equal to the lesser of <br />The sum of the Supportable Mortgage plus the Benchmark Down <br />Payment; or <br />R&Gjoi,ory V N00 3 <br />7[06'%1ng <br />City of Santa Ana hnuiiq 2M <br />32A-75 <br />