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"Official Records" means the Official Records of Alameda County. <br />"Party" means Lessor or Lessee, as applicable. Lessor and Lessee shall be referred to <br />collectively as the "Parties." <br />"Permitted Encumbrances" means permitted title encumbrances as defined in Section <br />"Project" means the Improvements as defined above. <br />"Regulatory Agreement" means that certain Affordable Housing Regulatory Agreement <br />and Declaration of Restrictive Covenants dated as of the date hereof, executed by Lessor and <br />Lessee and recorded concurrently with execution of this Lease. The Regulatory Agreement is <br />attached hereto as Exhibit C, and is incorporated into this Lease. <br />"Rent" is defined in Section 4.1 hereof. <br />"Seller Loan" means that certain Seller carryback loan to be provided by Ridge View to <br />Lessee in the amount of $3,162,500. <br />"Seller Deed of Trust" means that certain Short Form Leasehold Deed of Trust and <br />Assignment of Rents dated as of June 1, 2024, executed by Lessee for the benefit of Ridge View <br />and to be recorded in the Official Records on the Commencement Date. <br />"Senior Loan" means that certain construction loan in the original principal amount of <br />Thirty -Nine Million, Six Hundred Sixty -Eight Thousand, Six Hundred Dollars ($39,668,600) to <br />be provided to Lessee by Senior Lender and that will convert to a permanent loan in the original <br />principal amount of approximately $7,351,000. <br />"Senior Loan Documents" means all documents executed by Lessee evidencing or <br />securing the Senior Loan. <br />"Senior Lender" means Silicon Valley Bank, a division of First -Citizens Bank & Trust <br />Company. <br />"Senior Deed of Trust" means that certain Construction and Permanent Leasehold Deed <br />of Trust, with Assignment of Leases and Rents, Security Agreement, and Fixture Filing, securing <br />Lessee's obligation to repay the Senior Loan, dated as of June 1, 2024, executed by Lessee for <br />the benefit of California Housing Finance Agency, a public instrumentality and political <br />subdivision of the State of California ("Ca1HFA"), to be recorded in the Official Records on the <br />Commencement Date, and for which Ca1HFA's beneficial interest has been assigned to Senior <br />Lender. <br />"Surplus Cash" is defined in the Note. <br />"Taking" means a taking during the Term hereof of all or any part of the Leased <br />Premises and/or the Improvements, or any interest therein or right accruing thereto, as a result of <br />the exercise of the right of condemnation or eminent domain materially affecting the Leased <br />6 <br />4859-3312-3005v5 <br />