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Fair Market Value, is defined in Section 6.5. <br />`Grant Agreement" is defined in Section 5.5. <br />"Habitat Deed of Trust" is defined in Recital F. <br />"Habitat Loan" is defined in Recital F. <br />"Habitat Note" is defined in Recital F. <br />"Home" is defined in Recital D. <br />"HOME Homebuyer Deed of Trust" is defined in Recital G. <br />"HOME Funds" is defined in Recital G. <br />"HOME Homebuyer Note" is defined in Recital G. <br />"HOME Regulatory Agreement" means that certain HOME Program Affordable Housing <br />Regulatory Agreement and Declaration of Restrictive Covenants dated as of , 2021, <br />executed by and between Habitat and City, and recorded in the Official Records of San Mateo <br />County on , 20_ as instrument no. <br />"Homebuyer Deed of Trust" means the Performance Deed of Trust to be executed by Owner <br />for the benefit of City substantially in the form attached as an Exhibit to the Regulatory Agreement <br />and recorded against the Home. <br />"Low Income Household" means a household which has an Adjusted Household Income not to <br />exceed eighty percent (80%) of Area Median Income adjusted for actual household size. <br />"Power of Termination" is defined in Recital H. <br />"Option" is defined in Section 6.1. <br />"Original Affordable Sales Price" means Dollars ($_�. <br />"Original Purchase Price" means the Purchase Price as defined in Recital E. <br />"Purchase Price" is defined in Recital E. <br />"Qualifying Improvements" is defined in Section 6.5.1. <br />"Regulatory Agreement" means that certain Affordable Housing Regulatory Agreement and <br />Declaration of Restrictive Covenants dated as of , 2020, executed by and between <br />Habitat and City, and recorded in the Official Records of San Mateo County on <br />20_ as instrument no. <br />"Successor -/n -Interest" means a person or household, other than Owner, which may acquire <br />the Home at any time during the Term by purchase, assignment, transfer or otherwise pursuant to <br />the terms of this Agreement. Upon acquisition of the Home, the Successor -In -Interest shall be <br />bound by each of the covenants, conditions and restrictions of this Agreement as Owner. <br />"Term" means the period beginning on the Effective Date and ending on the date, which is the <br />later of the fifty-fifth (55th) anniversary of the Effective Date and the fifty-fifth anniversary of the <br />date this Agreement is recorded in the Official Records of San Mateo County. <br />SF #4815-2365-6406 v1 <br />REV: 05-19-2021 SK <br />