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AMI ( "60% Units "), a monthly rent that does not exceed one - twelfth of thirty percent <br /> (30 %) of sixty percent (60 %) of Area Median Income, Adjusted for Family Size <br /> Appropriate for the Unit. <br /> "Area Median Income" or "AMI" means the median income for Alameda <br /> County, California, adjusted for Actual Household Size, as determined by the U.S. <br /> Department of Housing and Urban Development ( "HUD ") pursuant to Section 8 of the <br /> United States Housing Act of 1937 and as published from time to time by the State of <br /> California Department of Housing and Community Development ( "HCD ") in Section <br /> 6932 of Title 25 of the California Code of Regulations or successor provision <br /> published pursuant to California Health and Safety Code Section 50093(c). <br /> "Claims" is defined in Section 10. <br /> "Eligible Household" means a household for which gross household income <br /> upon initial occupancy does not exceed the applicable maximum income level for a <br /> Restricted Unit as specified in Section 2.1. <br /> "Existing Loan" is defined in Recital E. <br /> "HOME Assisted Units" is defined in Section 2.1.1. <br /> "HOME Regulations" means the Regulations applicable to the HOME <br /> Investment Partnership Program established by the National Affordable Housing Act of <br /> 1990 (42 USCA § 12471, et seq.) (the "HOME Program ") as set forth in 24 CFR Part <br /> 92. <br /> "Indemnitees" is defined in Section 10. <br /> "Regulations" means Title 25 of the California Code of Regulations. <br /> "Restricted Unit" means a dwelling unit which is reserved for occupancy at an <br /> Affordable Rent by a household of not more than a specified household income in <br /> accordance with and as set forth in Sections 2.1 and Section 2.2. <br /> "Surf" is defined in Recital E. <br /> "Very Low- Income" means an annual gross household income that is less than <br /> or equal to the qualifying limits for households of Very Low Income adjusted for actual <br /> household size, as determined periodically by HUD on the basis of gross annual <br /> household income and published by HCD in the Regulations for Alameda County. If <br /> HUD ceases to make such determination, "Very Low Income" shall be defined as not <br /> greater than fifty percent (50 %) of Area Median Income adjusted for actual household <br /> size, as published by HCD in the Regulations. If both HCD and HUD cease to make <br /> such determinations, City in its reasonable discretion may designate another definition <br /> of "Lower Income" used by any other federal or state agency so long as such definition <br /> is no more restrictive than that set forth herein. <br /> 1753724.4 4 <br />