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"Property" means the property that is located at 1666 N. Main Street in the City of <br />Santa Ana, and is more fully described in the "Legal Description" of the Property attached hereto as <br />Exhibit A and incorporated herein by reference. <br />"Scope of Work/Schedule of Performance" means the detailed statement of the <br />work to be performed by Developer on and to the Property pursuant to this Agreement, along <br />with the Schedule of Perfonnance setting forth timeframes for certain tasks, which document is <br />attached hereto as Exhibit H. <br />"Senior Lender" means a commercial financial institution providing the Senior <br />Loan or any other holder of the Senior Loan Note. <br />"Senior Loan" means -a loan from the Senior Lender which is either a, <br />construction loan in the approximate principal amount of $18,000,000.00 with a term of <br />approximately two (2) years or a permanent loan in the approximate principal amount of <br />$3,788,911 with a term of approximately 18 years and an amortization period of 30 years. <br />"Senior Loan Deed of Trust" means the first deed(s) of trust securing the <br />Senior Loan by encumbering the Property. <br />"Senior Loan Documents" means, collectively, the loan agreement governing <br />the Senior Loan, the Senior Loan Note, the Senior Loan Deed of Trust, and any other agreement, <br />document or instrument that the Senior Lender requires in connection with the Senior Loan. <br />"Senior Loan Note" means the promissory note evidencing the Senior Loan <br />from the Senior Lender. <br />"Term of Affordability"the terms and conditions contained herein shall remain <br />in effect for fifty-five (55) years from the date of issuance of the Certificate of Completion. <br />"Very Low Income" means an adjusted income which does not exceed fifty <br />percent (50%) of the area median income.for the Orange County, California PMSA, adjusted for <br />household size, as published by HUD. <br />1.2 Singular and Plural Terms. Any defined term used in the plural in this <br />Agreement shall refer to all members of the relevant class and any defined term used in the <br />singular shall refer to any number of the members of the relevant class. <br />1.3 References and Other Terms. Any reference to this Agreement shall include , <br />such document both as originally executed and as it may from time to time be modified. <br />References herein to Articles, Sections and Exhibits shall be construed as references to this <br />Agreement unless a different document is named. References to subparagraphs shall be <br />construed as references to the same Section in which the reference appears. The term "document" <br />is used in its broadest sense and encompasses agreements, certificates, opinions, consents, <br />instruments and other written material of every kind. The terms "including" and "include" mean <br />"including (include) without limitation." <br />7 <br />