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(1) "HUD" shall mean the United States Department of Housing and Urban <br /> Development. <br /> (m) "Lease" shall mean the Ground Lease of even date herewith, pursuant to which <br /> the City shall lease the Property to the Borrower. <br /> (n) "Leasehold Estate" shall mean the Borrower's leasehold interest in the Property as <br /> created by the lease. <br /> (o) "Loan" shall mean the City loan to Borrower pursuant to this Agreement in the <br /> total principal amount of Two Million Four Hundred Ninety Thousand Dollars ($2,490,000). <br /> The Loan shall not include the HELP Loan made by the City to Borrower. <br /> (p) "Loan Documents" shall mean this Agreement, the Note, the Regulatory <br /> Agreement, and the Deed of Trust. <br /> (q) "Note" shall mean the promissory note that will evidence Borrower's obligation to <br /> repay the Loan. <br /> (r) "Parties" shall mean the City and Borrower. <br /> (s) "Predevelopment Loan" shall mean the Nine Hundred Forty-Nine Thousand Eight <br /> Hundred Five Dollar ($949,805) loan that the City loaned to Borrower to finance certain <br /> predevelopment activities in connection with the Project. <br /> (t) "Predevelopment Loan Agreement" shall mean the Predevelopment Loan <br /> Agreement dated June 10, 2003, between the City and Borrower pursuant to which the City <br /> loaned the Predevelopment Loan to Borrower. <br /> (u) "Project" shall mean the Leasehold Estate and the one hundred five (105) assisted <br /> living units. <br /> (v) "Property" shall mean the real property located in the City of Pleasanton, County <br /> of Alameda, California, more particularly described in the attached Exhibit A. <br /> (w) "Regulatory Agreement" shall mean the Regulatory Agreement and Declaration <br /> of Restrictive Covenants between the City and the Borrower associated with the Loan, to be <br /> recorded against the Leasehold Estate. <br /> (x) "Senior Lender" means any lender to Borrower whose loan or reimbursement <br /> obligation is secured by a deed of trust that is senior in lien priority to the deed of trust securing <br /> the Loan. <br /> (y) "Term" shall mean shall mean the term of the Loan, commencing on the date of <br /> this Agreement and continuing for fifty-five (55) years. <br /> (z) "Transfer" shall have the meaning set forth in Section 4.7 below. <br /> 3 <br /> 144V105\217525.16 <br />