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(ii) In the case of a Refinancing, the reasonable and necessary costs of <br />consumating such Refinancing, including, without limitation, loan fees, loan repayment charges, <br />costs of title insurance premiums, escrow fees, recording fees and attorneys' fees. <br />"Extremely Low Income" means an adjusted income which does not exceed thirty <br />percent (30%) of the area median income for the Orange County, California PMSA, adjusted for <br />household size, as published by HUD. <br />"Gross Revenues" shall mean all revenues and receipts of every kind actually received by <br />Borrower from operating the Property, and all parts thereof, including, but not limited to, income <br />from both cash and credit transactions, rental from leased and/or subleased spaces and parking <br />fees and charges (but not including security deposits and other tenant deposits, except to the <br />extent such deposits are forfeited to the Borrower under the tenant's lease). Gross Revenues also <br />includes any casualty insurance proceeds in excess of those used to restore the Property and any <br />rental interruption insurance proceeds. Borrower shall establish and maintain accounts for the <br />Gross Revenues (the "'Project Accounts") that are segregated from revenues and income received <br />by Borrower from all other projects. Gross Revenues shall also include all interest earned on the <br />Project Accounts. Gross Revenues shall not include capital contribution and loan proceeds <br />received by borrower from any source. <br />"HOME Assisted Units" shall mean those rental units purchased and rehabilitated on the <br />Property which are subject to the term of affordability. <br />"HOME Deed of Trust" shall mean the HOME Deed of Trust in favor of the City, <br />securing the HOME Loan, substantially in the form attached to the Agreement as Exhibit C, <br />which is incorporated herein by this reference. <br />"HOME Funds" shall mean the money provided under the HOME Program for the <br />rehabilitation of the rental units hereunder. <br />"HOME Loan" shall mean the loan evidenced by this Note repayable to the City in <br />accordance with the terms of this Note and secured by the HOME Deed of Trust. <br />"HOME Investment Partnerships Program" (HOME) has the meaning set forth in the <br />Recitals above. <br />"Low Income" means an adjusted income which does not exceed eighty percent (80%) of <br />the area median income for the Orange County, California PMSA, adjusted for household size, <br />as published by HUD. <br />"Operating Expenses" shall mean the sum of the following: <br />(i) payments of principal and interest and all other charges relating to the Senior <br />Loan(s); <br />LEGAL _US_W #90423673.1 <br />