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ATTY/RESO.0020/CC RESO APPROVING AMENDMENTS TO HPP GUIDELINES – EXHIBIT B REV: 05-04-26 LF Page 12 of 86 kk. “Note” has the meaning set forth in Section 201. ll. “Official Records” means the Official Records of the County of San Mateo, State of California. mm. “Person” means any association, corporation, governmental entity or agency, individual, joint venture, joint-stock company, limited liability company, partnership, trust, unincorporated organization or other entity of any kind. nn. “Prevailing Wage Action” means any of the following: (a) any determination by the California Department of Industrial Relations that prevailing wage rates should have been paid, but were not; (b) any determination by the California Department of Industrial Relations that higher prevailing wage rates than those paid should have been paid; (c) any administrative or legal action or proceeding arising from any failure to comply with the Federal Davis-Bacon Act (codified as 40 U.S.C. §§ 3141 et seq.) or California Labor Code Sections 1720 through 1781, as amended from time to time, regarding prevailing wages, including maintaining certified payroll records; or (d) any administrative or legal action or proceeding to recover wage amounts at law or in equity. oo. “Project Budget” means the “Project Budget” attached hereto as Attachment No. 4. pp. “Regulatory Agreement” means the Regulatory Agreement and Declaration of Restrictive Covenants executed by Borrower and City pursuant to this Agreement and to be recorded in the Official Records, in substantially the form attached hereto as Attachment No. 7, for the purpose of ensuring that the Development shall be operated as an affordable multi- family residential development for the full term of the Loan in accordance with the terms of this Agreement. qq. “Rehabilitation Work” means the work to be performed as described in the “Scope of Rehabilitation,” defined below. [For Acquisition Only Loans and Expiring Covenant Loans, delete] rr. “Relocation Laws” shall have the meaning as set forth in Section 404 of this Agreement. ss. “Residual Receipts” means for each calendar year, the amount by which Gross Revenue exceeds Annual Operating Expenses. tt. “Scope of Rehabilitation” means the “Scope of Rehabilitation” attached hereto as Attachment No. 3. [For Acquisition Only Loans and Expiring Covenant Loans, delete] uu. “Supplemental Conditions” shall mean the Supplemental Conditions to the Loan that are set forth in Attachment No. 9, attached hereto and incorporated herein by this reference. Borrower shall comply with all Supplemental Conditions at the time and in the manner as set forth in Attachment No. 9. [If Loan Funding Source includes additional requirements, include as Supplemental Conditions In Att. No. 9. If no additional funding requirements, delete this section]