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of Rents, Security Agreement and Fixture Filing ("City Deed of Trust") which shall provide <br />City with a security interest in the Property and the Project, and (iii) Developer, City and Agency <br />shall execute a an Affordable Housing Regulatory Agreement and Declaration of Restrictive <br />Covenants (the "Regulatory Agreement") which shall be recorded against the Property and <br />which shall restrict occupancy of the Project to senior households and require Project rents to be <br />affordable to very low-income senior households for a term of not less than 55 years. The <br />Agency Note and Agency Deed of Trust are collectively hereinafter referred to as the "Agency <br />Documents." The City Note and City Deed of Trust are collectively hereinafter referred to as the <br />"City Documents." <br />NOW, THEREFORE, in consideration of the mutual covenants contained herein and <br />good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, <br />the Parties agree as follows. <br />ARTICLE I <br />DEFINITIONS <br />1. Definitions. The following terms shall have the meanings set forth in the Sections <br />referenced below whenever used in this Agreement and the Exhibits attached hereto. Additional <br />terms are defined in the Recitals and text of this Agreement. <br />L 1 "Agency Deed of Trust" is defined in Section 4.1. <br />1.2 "Agency Loan" is defined in Section 4.1. <br />1.3 "Agency Documents" is defined in Recital F. <br />1.4 "Agency Note" is defined in Section 4.1. <br />1.5 "Certificate of Completion" is defined in Section 3.15. <br />1.6 "City Loan" is defined in Section 5.1. <br />1.7 "City Documents" is defined in Recital F. <br />1.8 "City Note" is defined in Section 5.1. <br />1.9 "Claims" is defined in Section 3.17. <br />1.10 "Conditions of Approval" is defined in Section 3.2. <br />1.11 "Construction Plans" is defined in Section 3.11. <br />1.12 "Environmental Laws" is defined in Section 9.4. <br />956070-4 4 <br />