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(bb) "Project" has the meaning set forth in Recital C above. <br />(cc) "Project Site" has the meaning set forth in Recital C above. <br />(dd) "Restrictive Covenant Agreement" has the meaning set forth in Recital F <br />above. <br />(ee) "Resident" means a household occupying an Affordable Unit in the <br />Proj ect. <br />(ff) "Residential Component" means the Market Rate Units and the Affordable <br />Units of the Project. <br />(gg) "Residential Site" has the meaning set forth in Recital E above. <br />(hh) "Term" means the term of this Agreement, which commences as of the <br />date of this Agreement and, unless terminated earlier pursuant to this Agreement, continues with <br />respect to a term of fifty-five (55) years from the date of this Agreement. <br />(ii) "Very Low -Income Household" means a household with an annual Household <br />Income no greater than the maximum income for very low income households, as published <br />annually by the City for each household size, based on either United States Department of <br />Housing and Urban Development (HUD) income limits for San Mateo County or the California <br />Department of Housing and Community Development (HCD) income limits for San Mateo <br />County, as applicable. <br />Oj) "Very Low -Income Rent" means the Affordable Rent permitted to be charged <br />for a Very Low -Income Unit, and as provided to the Owner annually by the City or as published <br />by CTCAC for 50% AMI households, as applicable. <br />(kk) "Very Low -Income Units" means Affordable Units required to be <br />occupied by Very Low -Income Households. <br />Section 1.2 Exhibits. The following exhibits are attached to this Agreement: <br />Exhibit A: <br />Legal Description of Residential Site <br />Exhibit B: <br />Calculation of Household Income <br />Exhibit C: <br />Site Map Location(s) of Affordable Units <br />Exhibit D: <br />Income Level, Size and Bedroom Count of Affordable Units <br />Exhibit E: <br />Conditions of Approval <br />Exhibit F: <br />Form of Release of Affordable Housing Agreement <br />Exhibit G: <br />Form of Restrictive Covenant Agreement <br />ARTICLE 2. <br />INCLUSIONARY HOUSING OBLIGATIONS. <br />6 <br />1199\10\3609857.1 <br />REV: 10-18-23 SK <br />