Agmt25 SEC-Lenders Documents 2 - Loan Agreement

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o. "Control" means possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person and contractually bind such Person, whether by ownership of Equity Interests, by contract, or otherwise. P. "Construction" means any alteration, construction, excavation, demolition, grading, development, expansion, reconstruction, redevelopment, repair, restoration, or other work affecting the Property. q. "County" means the County of San Mateo, California. r. "Deed of Trust" has the meaning set forth in Section 201. S. "Development" means the multifamily rental housing development located on the Property, which includes a total of eight (8) apartment units that have been constructed and are in operation on the Property. The Development includes (i) one (1) two-bedroom unit that will be available and rented to households whose income does not exceed the maximum income for Extremely Low Income Households (the "Extremely Low Income Unit"), (ii) Two (2) One - Bedroom units that,will be available and rented to households whose income does not exceed the maximum income for Sixty Percent (60%) AMI Households (the "Sixty Percent AMI Units"), and (iii) One (1) One -Bedroom unit that will be available and rented to households whose income does not exceed the maximum income for Low Income Households (the "Low Income Unit "), as a condition of the making of this Loan by City. Additionally, the Development will include four (4) apartment units that will be available and rented to households whose annual incomes do not exceed the maximum income for Moderate Income Households. Additionally, the Development will include four (4) apartment units that will be available and rented to households whose annual incomes do not exceed the maximum income for Moderate Income Households. t. "Disbursement" has the meaning set forth in Section 204.1. U. "Effective Date" means the date first set forth in this Agreement above. V. "Environmental Claim" means any and all claims, demands, damages, losses, liabilities, obligations, penalties, fines, actions, causes of action, judgments, suits, proceedings, costs, disbursements and expenses, including reasonable attorney's fees and costs and costs of environmental consultants and other experts, and all foreseeable and unforeseeable damages or costs of any kind or of any nature whatsoever, directly or indirectly, relating to or arising from any actual or alleged violation of any Environmental Law or Hazardous Substance Discharge. W. "Environmental Document" means any exemption determination, any Negative Declaration (mitigated or otherwise) or any Environmental Impact Report (including any addendum or amendment to, or subsequent or supplemental Environmental Impact Report) required or permitted pursuant to the National Environmental Policy Act (codified as 42 U.S.C. §§ 4321 et seq.) or the California Environmental Quality Act (codified as Public Resources Code Sections 21000 et seq.), as applicable, to issue any discretionary Approval required to approve this Agreement. REV: 05-21-25 LF ATTY/AGR.2025.100/HEART-SV (417 Stambaugh St.) (Page 9 of 85)