RecDoc 2010-110432 - Laserfiche WebLink

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D. Declarant's continuous and faithful performance of all of Declarant's obligations hereunder for the full term of this Declaration is a condition of the City Loan. Pursuant to the Funding Agreement, in the event of any default under the Funding Agreement, including this Declaration, and following the expiration of all applicable notice and cure periods, Declarant must repay to City all amounts owing under the City Note. E. City and Declarant desire by the execution of this Declaration to assure the Affordable Bedrooms remain affordable to extremely low income persons with developmental disabilities for a minimum of fifty -five (55) years following the date of recordation of this Declaration. F. City and Declarant acknowledge and agree that pursuant to HOME regulations, the dwelling unit on the Property is classified as a group home. NOW THEREFORE, the parties acknowledge and agree as follows: ARTICLE 1. DEFINITIONS 1.01 "Affordable Rent" means an amount of rent equal to the lesser of (i) one - twelfth (1/12) of thirty percent (30 %) of the individual client's annual gross income, (ii) one -sixth of the appropriate Section 8 existing Fair Market Rent (FMR) for a six - bedroom unit, or (iii) such other appropriate rent set by the Golden Gate Regional Center of the State of California for adults with developmental disabilities. Affordable Rent includes the cost of utilities. To the extent that the Affordable Rent set forth herein is inconsistent with HOME or CDBG rules and regulations, as they may be amended and supplemented from time to time, the HOME and CDBG program rules and regulations shall govern for the purposes of defining Affordable Rent. 1.02 "Qualified Persons" shall mean a person meeting all of the following criteria: (a) Is an adult who is identified as having a disability with an onset before the age of 18, whose disability is substantial and will impact three or more areas of life functioning, who has been identified as a person with a developmental disability by a state or regional center or has contested a regional center negative determination regarding a diagnosis of a developmental disability. (b) Is determined to be an extremely low income person having an annual household gross income no greater than 30% of the Area Median Income. (c) Shall be eligible for occupancy for a minimum period of 12 months. 1.03 "Area Median Income" shall mean the median income for households in San Mateo County, California, as published from time to time by the United States Department of Housing and Urban Development ( "HUD ") in a manner consistent with the determination of median gross income under Section 8 of the United States Housing Act of 1937, as amended, and as defined in Title 25, California Code of Regulations, Section 6932. In the event that such income determinations are no longer published by HUD, or are not updated for a period of at least 18 months, the City shall provide the Declarant with other income determinations that are reasonably similar with respect to methods of calculation to those previously published by HUD. 1.04 "Applicable Laws" means all applicable laws, ordinances, statutes, codes, orders, decrees, rules, regulations, official policies, standards and specifications (including any ordinance, resolution, rule, regulation, standard, official policy, condition, or other measure) of the United States, the State of California, the County of San Mateo, City of Redwood City, or any other political subdivision in which the Property is located, and of any other political subdivision, agency or instrumentality exercising jurisdiction over the City, Declarant or the Property. 1.05 "Golden Gate Regional Center (GGRC)" means the non - profit organization under contract with the California State Department of Developmental Services to identify client service needs Exhibit D 2