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established in this section but does not exceed eighty percent (80%) of the Median Gross Income for the Area. I"lIEDIAN GROSS INCOME FOR THE AREA: Means the median income for the Oakland Primary Metropolitan Statistical Area ("PMSA") as determined by the Secretary of Housing and Urban Development under Section 8(f)(3) of the United States Housing Act of 1937, as amended. In the event that programs under Section 8(f) are terminated, the median income shall be determined per written direction of the City in a manner similar to current formula determination. DEVELOPER; Means Citizens' Housing Corporation, a California nonprofit public benefit corporation and its successors as approved by the City pursuant to the Loan Agreement. PARTICIPATION IN THE PROJECT: Means that the City has invested a dollar amount of Seven Hundred Thousand Dollars ($700,000) in the Project. The amount of City participation may be increased at the sole discretion of the City. PROJECT OR PROPERTY: Shall mean property located at 15320 Tropic Court, San Leandro, California VERY LOW INCOME TENANTS; Means the occupants of HOME Unit in the Project whose household income, adjusted for household size, as computed pursuant other Income Certification, does not exceed fifty percent (50%) of the Median Gross Income for the Area. Determination of the status of an occupant of a HOME Unit as a Very Low Income Tenant shall be made upon initial occupancy of a unit in the Project by such occupant and recertified annually. A tenant who qualifies as a Very Low Income Tenant remains qualified as a Low Income Tenant even if such household's income rises above the limit established in this section but does not exceed eighty percent (80%) of the Median Gross Income for the Area. SECTION 2. INTERPRETATION. Words importing any gender include all genders. Words importing person include firms, associations and corporations. Words importing the singular shall include the plural and vice versa. The terms "herein," "hereunder," "hereby," "hereto," "hereof," and any similar terms refer to this Agreement, the term "heretofore" means before the date of this Agreement, and the term "hereafter" means after the date of this Agreement. Articles and Sections mentioned by number only are the respective Articles and Sections of this Agreement so numbered. Reference to "this Article," "this Section," or "this subsection," shall refer to the particular Article. Section or subsection in which such reference appears. Any captions, titles or heading preceding the text of any Article or Section herein and any table of contents or index attached to this Agreement or any copy thereof are solely for convenience of reference and shall not constitute part of this Agreement or affect its meaning, construction, or effect. SECTION 3. TERM OF AGREEMENT The terms of this Agreement shall be for 55 years from the Date of Initial Occupancy. At the end of this term, Developer may either request extending the terms of this Agreement or request disposition instruction from the City pursuant to Exhibit D to the HOME Loan Agreement.