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9.A. - Page 19 <br /> an interest rate established by the Program Manager at the time the Program Loan <br /> is made of either 3% per annum or the federal funds rate (11t" District cost of <br /> funds index), whichever is lower. This type of Program Loan imposes no Rent <br /> Stabilization requirements on the Borrower. <br /> M. "Owner"means the legal owner(s) of an Eligible Building. <br /> N. "Prevailing Wage Laws" means all requirements of the California Department of <br /> Industrial Relations in accordance with the California Labor Code, and all other <br /> applicable federal, state and local laws and regulations pertaining to labor <br /> standards and payment of prevailing wages. <br /> O. "Program" means this City of Redwood City Fire Sprinkler Retrofit Pilot Program. <br /> P. "Program Application" means an application submitted to the Program Manager <br /> for a Program Loan. The Program Application shall be on a form provided by the <br /> Program Manager. <br /> Q. "Program Loan"means a loan granted to a Borrower under the Program. <br /> R. "Program Loan Commitment Expiration Date" means the date specified in a <br /> Program Loan Commitment Letter by which the requirements for receipt of the <br /> Program Loan specified in the Program Loan Commitment Letter must be <br /> completed to insure that Program Loan Funds will be available for the Owner's <br /> requested Program Loan. <br /> S. "Program Loan Commitment Letter" means the letter the Program Manager gives <br /> to an Owner who has shown to the Program Manager's satisfaction that the <br /> proposed cost for design, purchase and/or installation of an Automatic Sprinkler <br /> System for the Owner's Eligible Building is satisfactory and eligible for <br /> reimbursement through a Program Loan. <br /> T. "Program Loan Documents" shall mean all documents required from the Borrower <br /> as a precondition to the granting of a Program Loan and shall include a Loan <br /> Agreement, Promissory Note and Deed of Trust on forms prepared by and <br /> acceptable to the Program Manager. <br /> U. "Program Loan Fund" means the City fund established by the City Council for <br /> Program Loans. <br /> ATTY/RESO.3085/CC RESO—RWC FIRE SAFETY FIRST PILOT PROGRAM—ATTACHMENT A <br /> REV:05-12-15 VR <br /> Page 3 of 10 <br />