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DOC #2025-0014937 Page 2 of 21 E. For purposes of complying with the Density Bonus Law, and the Redlands Municipal Code, and facilitating development of affordable housing kvithin the City, City agrees to the terms and conditions set forth herein. NOW, THEREFORE, in consideration of tlhe mutual promises contained herein, the Parties agree as follows: AGREEMENT 1. Recitals. The foregoing recitals are true and correct, and are incorporated herein as a substantive part of this Agreement. 2. Definitions. The following terms when used in this Agreement shall have the meanings ascribed to them: 2.1 "Adjusted for family size appropriate to the unit" means a household of one person in the case of a studio unit, a household of two persons in the case of a one -bedroom unit, a household of three persons in the case of a two -bedroom unit, and a household of four persons in the case of a three -bedroom unit, or as determined in accordance with California Health and Safety Code Section 50052.5 or implementing regulations. 2.2 "Affordable Rent" means for a Very Low Income Household the maximum Monthly Rent that does not exceed the amount of rent for a -Very Low Income Household authorized pursuant to Health and Safety Code Section 50053 as such statute exists on the date hereof, which is the product of thirty percent (30%) times fifty percent (50%) of Median Income, adjusted for household size appropriate to the unit. Affordable Rent shall be determined in accordance with any applicable regulations implementing Health and Safety Code Section 50053 and the amounts published by the California Department of Housing and Community Development applicable to the City. 2.3 "Affordable Unit" means a unit restricted for occupancy by a Qualifying Household at an Affordable Rent. The Affordable Units are the same as the Affordable Units, as defined in the hhclusionary Housing Regulatory Agreement. 2.4 "Density Bonus Law" means California Government Code section 65915 et seq. 2.5 "Qualifying Household(s)" means a Household who complies with all income verification requirements ofthis Agreement and, for Affordable Units designated for rental to and occupancy by Very Low Income Households, a Household that qualifies as a Very Low Income Household as defined herein. 2.6 "Home Office" means a separate area or room in an Affordable Unit used for business purposes and claimed as a business expense pursuant to federal and state income tax 2 17942.001 55\42698948. i