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Eligible Households at Affordable Rents, including, without limitation the following: community <br /> space, parking, tenant related space and related ancillary facilities, together with any and all <br /> replacements or substitutions therefor or modifications thereto, in accordance with all approvals <br /> and conditions for use by the City for the Leased Premises. The Improvements are also referred <br /> to in this Lease as the "Project." The Improvements will be constructed in an eighty (80) unit <br /> multi-story building on the northern portion of the Leased Premises and the new construction of <br /> fifty-one (51) single-story homes on the eastern side of the Leased Premises. Phase I will in turn <br /> be divided into subphases with the first part of Phase I consisting of construction of the single- <br /> story homes, and second part consisting of the multi-story building. <br /> (z) Indemnitees: Lessor and its elected and appointed officials, officers, <br /> employees, agents, contractors, representatives and volunteers. <br /> (aa) Insurance Requirements: The requirements, whether now or hereafter in <br /> force, of any insurer or insurance carrier, any board of fire underwriters or any other company, <br /> bureau, organization or entity performing the same or similar functions, applicable to the Leased <br /> Premises and/or the Improvements, or any portion thereof, to the extent so applicable. <br /> (bb) Investor: The low income housing tax credit investor that will provide <br /> equity to the Project. MUFG Union Bank,N.A. is the initial Investor. <br /> (cc) Land: As defined in Recital A above. <br /> (dd) Lease Year: A calendar year. <br /> 1 (ee) Leased Premises: The Land, together with all and singular rights, <br /> easements, licenses, privileges and appurtenances thereunto attaching or in any way belonging <br /> thereto. <br /> (ft) Leasehold Mortgage: Any mortgage, deed of trust, security agreement or <br /> collateral assignment pursuant to an Approved Loan encumbering Lessee's Estate as a leasehold <br /> mortgage lien. <br /> (gg) Legal Requirements: All laws, statutes, codes, ordinances, orders, rules, <br /> regulations and requirements of all Governmental Authorities and the appropriate agencies, <br /> officers, departments, boards and commissions thereof, whether now or hereafter in force <br /> applicable to Lessor, Lessee, the Leased Premises, the Improvements, or any portion thereof, to <br /> the extent so applicable. <br /> (hh) Lender: The holder, mortgagee, grantee or secured party under any <br /> Leasehold Mortgage. <br /> (ii) Lessee's Estate or Leasehold Estate: During the Term of this Lease, <br /> Lessee's leasehold interest in the Land and Lessee's fee ownership interest in the Improvements. <br /> (jj) Lessor's Estate: Lessor's fee estate in the Land and reversionary interest in <br /> the Improvements pursuant to this Lease. <br /> 5 <br /> 191\52\16569158 <br /> OAK#4834-9609-1684 v8 <br />