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NOW THEREFORE, in consideration of the foregoing, and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows. 1. Definitions. The following terms have the meanings set forth in this Section wherever used in this Agreement or the attached exhibits. "Actual Household Size" means the actual number of persons in the applicable household. "Adjusted for Family Size Appropriate for the Unit" shall be determined consistent with Section 50052.5(h) of the California Health and Safety Code, subject to the application of federal rules and regulations applicable to Project financing sources, including Section 42(g)(2) of the Internal Revenue Code of 1986 as amended (or successor provision). "Affordable Rent" means the following amounts, less a utility allowance and other fees and charges required to be paid by tenants of the Project on a non -optional basis: (i) for units that are restricted for rental to households with incomes of not more than twenty percent (20%) of AMI ("20% Units"), a monthly rent that does not exceed one -twelfth of thirty percent (30%) of twenty percent (20%) of Area Median Income, Adjusted for Family Size Appropriate for the Unit, (ii) for units that are restricted for rental to households with incomes of not more than forty percent (40%) of AMI ("40% Units"), a monthly rent that does not exceed one -twelfth of thirty percent (30%) of forty percent (40%) of Area Median Income, Adjusted for Family Size Appropriate for the Unit; (iii) for units that are restricted for rental to households with incomes of not more than fifty percent (50%) of AMI ("50% Units"), a monthly rent that does not exceed one -twelfth of thirty percent (30%) of fifty percent (50%) of Area Median Income, Adjusted for Family Size Appropriate for the Unit; and (iv) for units that are restricted for rental to households with incomes of not more than sixty percent (60%) of AMI ("60% Units"), a monthly rent that does not exceed one -twelfth of thirty percent (30%) of sixty percent (60%) of Area Median Income, Adjusted for Family Size Appropriate for the Unit. "Area Median Income" or "AMI" means the median income for Alameda County, California, adjusted for Actual Household Size, as determined by HUD pursuant to Section 8 of the United States Housing Act of 1937 and as published from time to time by the State of California Department of Housing and Community Development ("HCD") in Section 6932 of Title 25 of the California Code of Regulations or successor provision published pursuant to California Health and Safety Code Section 50093(c). "City's Authorized Representative" means the City Manager of the City of Pleasanton. "City Documents" means the Loan Agreement, the Note, the Deed of Trust, the Ground Lease, and this Agreement. "Claims" means collectively, liabilities, losses, costs, expenses (including without limitation attorneys' fees and costs of litigation), claims, demands, actions, suits, judicial or administrative proceedings, penalties, deficiencies, fines, orders, and damages. 3 OAK #4634-1210-2796 v4