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6.N. - Page 6 of 19 <br />(g) "Adjusted Income" means the total anticipated annual income of all <br />persons in a household, as calculated in accordance with 25 California Code of Regulations <br />Section 6914 or pursuant to a successor State housing program that utilizes a reasonably similar <br />method of calculation of adjusted income. In the event that no such program exists, the City <br />shall provide the Owner with a reasonably similar method of calculation of adjusted income as <br />provided in said Section 6914. <br />(h) "Assumed Household Size" means for a studio apartment, one (1) person; <br />for a one (1) bedroom apartment, two (2) people; and for a two (2) bedroom apartment, three (3) <br />people. <br />(i) "Affordable Units" are defined in Recital C. <br />0) "Agreement" means this Affordable Housing Regulatory Agreement and <br />Declaration of Restrictive Covenants. <br />(k) "Area Median Income" or "AMI" means the area median gross yearly <br />income adjusted for Actual Household Size (to qualify residents) or Assumed Household Size (to <br />calculate rents), as applicable, for San Mateo County, as published and periodically updated by <br />HCD. <br />(1) "City" is defined in the first paragraph of this Agreement. <br />(m) "Default" is defined in Section 6.5(a). <br />(n) "Development" is defined in Recital B. <br />(o) "Effective Date" is defined in the first paragraph of this Agreement. <br />(p) "Encroachment Permit" is defined in Recital C. <br />(q) "HCD" means the California Department of Housing and Community <br />Development. <br />(r) "HUD" means the United States Department of Housing and Urban <br />Development. <br />(s) "Indemnitees" are defined in Section 6.4. <br />(t) "Owner" is defined in the first paragraph of this Agreement. <br />(u) "Party" or "Parties" is defined in the first paragraph of this Agreement. <br />(v) "Property" is defined in Recital B. <br />(w) "Rent" means the total of monthly payments by the Tenant of a Unit for <br />the following: use and occupancy of the Unit and land and associated facilities, including <br />parking; any separately charged fees or service charges assessed by Owner which are required of <br />all Tenants, other than security deposits; an allowance for the cost of an adequate level of service <br />REV: 09-29-2020 VR <br />ATTY/AGR.2020.215/Stanford - Cardinal Apartments (Page 3 of 16) <br />122 <br />