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City Council on September 1, 2015, in Ordinance No. NS -2881, and on October <br />6, 2015, in Ordinance No. NS -2885. <br />Owner means the current owner of an Inclusionary Unit. <br />Party and Parties mean the City and the H'omebuyer as parties to the <br />Inclusionary Housing Covenants Declaration. <br />Permitted Sale's are defined as a sale to an Eligible Purchaser or a sale <br />executed under the City's Purchase Option. <br />Primary Residence is defined as the only home that may be owned by the <br />Owner,. The Owner must reside in the Inclusionary Unit for not less than 10 out <br />of every 12 months.. <br />Program Director has the day -to -day authority for making determinations <br />related to the Ordinance and Administrative Procedures Manual, The Program <br />Director will be appointed by the Executive Director. <br />Prohibited Sales and Transfers are defined as any sale or transfer that is not <br />explicitly allowed by this Inclusionary Housing Covenants Declaration, Prohibited <br />Transfers specifically include any transfer of a use, rental or leasehold interest in <br />the Inclusionary Unit. <br />Project means the owner- occupied housing project proposed to be developed on <br />the Property at the Developer's We cost and expense. <br />Project CC &Rs means the Declaration of Covenants, Conditions and <br />Restrictions of the Project recorded or to be recorded against the entirety of the <br />Property and applicable to the Inclusionary Unit and the Homebuyer. <br />Property means the real property on which the Project is to be developed, for <br />which the legal description is provided in Exhibit 1 to the Inclusionary Housing <br />Agreement, <br />Recordation Date means the date of recording In the Official Records of the <br />County of Orange, California of the City Deed of Trust and the Inclusionary <br />Housing Covenants Declaration. <br />Resale means the resale of the Inclusionary Unit by the Owner. Prior to the <br />Resale of the Inclusionary Unit, the Owner must submit a Notice of Resale to the <br />City as set forth In Exhibit 4 to this Inclusionary Housing Covenants Declaration, <br />- -- — <br />tnc?wainirykrry Flaavein j Crnren<'rnts beclaratlon _. Page 11 <br />City of Santa Ana January 2615 <br />75C -125 <br />