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DEVELOPER: Means Las Palmas Development Partners,A California Limited <br /> Partnership, and its successors as approved by the City pursuant to the Loan <br /> Agreement. <br /> PARTICIPATION IN THE PROJECT: Means that the City has invested a dollar <br /> amount of Seven Hundred Fifty Thousand Dollars ($750,000) in the Project. The <br /> amount of City participation may be increased at the sole discretion of the City. <br /> PROTECT OR PROPERTY: Shall mean property located at 15370-15375 Tropic <br /> Court, San Leandro, California <br /> VERY LOW INCOME TENANTS: Means the occupants of HOME Unit in the <br /> Project whose household income, adjusted for household size, as computed pursuant <br /> other Income Certification, does not exceed fifty percent (50%) of the Median Gross <br /> Income for the Area. Determination of the status of an occupant of a HOME Unit as <br /> a Very Low Income Tenant shall be made upon initial occupancy of a unit in the <br /> Project by such occupant and recertified annually. A tenant who qualifies as a Very <br /> Low Income Tenant remains qualified as a Low Income Tenant even if such <br /> household's income rises above the limit established in this section but does not <br /> exceed eighty percent (80%) of the Median Gross Income for the Area. <br /> SECTION 2. INTERPRETATION. <br /> Words importing any gender include all genders. Words importing person <br /> include firms, associations and corporations. Words importing the singular shall <br /> include the plural and vice versa. <br /> The terms "herein," "hereunder," "hereby," "hereto," "hereof," and any similar <br /> terms refer to this Agreement, the term "heretofore" means before the date of this <br /> Agreement, and the term "hereafter" means after the date of this Agreement. <br /> Articles and Sections mentioned by number only are the respective Articles <br /> and Sections of this Agreement so numbered. Reference to "this Article," "this <br /> Section," or "this subsection," shall refer to the particular Article. Section or <br /> subsection in which such reference appears. Any captions, titles or heading preceding <br /> the text of any Article or Section herein and any table of contents or index attached <br /> to this Agreement or any copy thereof are solely for convenience of reference and <br /> shall not constitute part of this Agreement or affect its meaning, construction, or <br /> effect. <br /> 2 <br />