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SANTA ANA ARTS COLLECTIVE, L.P. (META HOUSING PROJECT) - 2017
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SANTA ANA ARTS COLLECTIVE, L.P. (META HOUSING PROJECT) - 2017
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Last modified
9/21/2017 9:20:39 AM
Creation date
8/24/2017 4:37:58 PM
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Contracts
Company Name
SANTA ANA ARTS COLLECTIVE, L.P. (META HOUSING PROJECT)
Contract #
A-2017-174
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
7/5/2017
Expiration Date
7/5/2047
Destruction Year
0
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secured by any Lien on any property or asset of such person (whether or not assumed by such <br />person). <br />"Indemnitees" has the meaning set forth in Section 14.5. <br />"Laws" means all statutes, laws, ordinances, regulations, orders, writs, <br />judgments, injunctions, decrees or awards of the United States or any state, county, municipality <br />or other Governmental Authority. <br />"Lien" means any lien, mortgage, pledge, security interest, charge or <br />encumbrance of any kind (including any conditional sale or other title retention agreement, any <br />lease in the nature thereof, and any agreement to give any lien or security interest). <br />"Limited Partner" means the Limited Partners of Developer, and their <br />successors and assigns. <br />"Loan Documents" means, collectively, this Agreement, the HOME Loan Note, <br />the HOME Deed of Trust, the Affordability Restrictions on Transfer of Property, and any other <br />agreement, document, or instrument that the City requires in connection with the execution of <br />this Agreement or from time to time to effectuate the purposes of this Agreement. <br />"Low Income" means an adjusted income which does not exceed eighty percent <br />(80%) of the area median income for the Orange County, California PMSA, adjusted for <br />household size, as published by HUD. <br />"Median Income for the Area" means the median income for the Orange <br />County, California PMSA as most recently determined by HUD. Also may be referred to <br />interchangeably in the Loan Documents as "Area Median Income" or "AMI". <br />"Partnership Agreement" means the Second Amended and Restated Agreement <br />of Limited Partnership of Santa Ana Arts Collective, L.P., dated in July 2017. <br />"Permitted Encumbrances for the Affordable Rousing Restrictions" means, <br />collectively, the Senior Loan Deed of Trust and AHSC Deed of Trust and all other title exceptions <br />and limitations with respect to the Property hereafter approved by the Executive Director in <br />writing, which shall include all title exceptions set forth on City's title policy, all documents <br />evidencing the State of California Housing and Community Development loan to encumber the <br />Property and the TCAC Regulatory Agreement. <br />"Permitted Encumbrances for the HOME Loan Deed of Trust" means, <br />collectively, the Senior Loan Deed of Trust and all other title exceptions and limitations with <br />respect to the Property hereafter approved by the Executive Director in writing which shall <br />include all title exceptions set forth on City's title policy, all documents evidencing the State of <br />California Housing and Community Development loan to encumber the Property and the TCAC <br />Regulatory Agreement. <br />
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