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K. "Improvements" means the approximately fourteen (14) units of affordable <br />housing, located on the Property, all common areas, amenities, plans, entitlements, appurtenances, <br />improvement easements, buildings and fixtures associated with the Property. <br />L. "Local Preference" is defined in Section 4.5. <br />M. "Low Income Ho usehold" means a household with an Adjusted Income that <br />does not exceed the qualifying limits for low income households, adjusted for Actual Household <br />Size, as established and amended from time to time pursuant to Section 8 of the United States <br />Housing Act of 1937, and as published by the State of California Department of Housing and <br />Community Development. <br />N. "Low Income Rent" means a monthly rent that does not exceed one -twelfth <br />(1/12th) of thirty percent (30%) of eighty percent (80%) of Median Income, adjusted for Assumed <br />Household Size. <br />O. "Management Agent" is defined in Section 5.2. <br />P. "Management Plan" defined in Section 5.1. <br />Q. "Median Income" means the median gross yearly income adjusted for <br />Actual Household Size (to qualify residents) or Assumed Household Size (to calculate rents), as <br />applicable, in the County of San Mateo, California, as published from time to time by the State of <br />California Department of Housing and Community Development. In the event that such income <br />determinations are no longer published, or are not updated for a period of at least eighteen (18) <br />months, the City shall provide the Owner with other income determinations which are reasonably <br />similar with respect to methods of calculation to those previously published by the State of <br />California Department of Housing and Community Development. <br />R. "thvner" means Saint Francis Center of Redwood City, a California <br />nonprofit public benefit corporation, and its successors and assigns. <br />S. "Project" means the Property and the Improvements. <br />T. "Property" means the real property located at Sb Renato Court, Redwood <br />City, California, as more particularly described in Attachment 1 attached hereto and incorporated <br />herein. <br />U. "Rent" means the total of monthly payments by the residents of a Unit (other <br />than the manager's unit) for the following: use and occupancy of the Unit and land and associated <br />facilities, including parking; any separately charged fees or service charges assessed by Owner <br />which are required of all residents, other than security deposits; the cost of an adequate level of <br />service for utilities paid by the resident, including garbage collection, sewer, water, electricity, gas <br />and other heating, cooking and refrigeration fuel, but not cable or telephone service; and any other <br />interest, taxes, fees or charges for use of the land or associated facilities and assessed by a public <br />or private entity other than Owner, and paid by the Resident. <br />AM/AGR/2022.389.02 - HARBOR VIEW PROJECT DA—AFFORDABLE HOUSING COVENANT (86 RENATO COURT) <br />REV: 03-15-23 VR <br />Page 3of21 <br />