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<br /> 12 <br />EXHIBIT C <br /> <br />CERTIFICATE OF CONTINUING PROGRAM COMPLIANCE <br />The undersigned, being a general partner of LINC—BRISTOL ASSOCIATES I, A California Limited <br />Partnership (the “Borrower”), has read and is thoroughly familiar with the provisions of the various <br />documents associated with the Borrower’s participation in the Housing Authority of the City of S anta Ana <br />(the “Issuer”) Multifamily Housing Program, such documents including: <br />1. the Regulatory Agreement and Declaration of Restrictive Covenants, dated as of <br />November 1, 2006 (the “Regulatory Agreement”) among the Borrower, the Issuer and U.S. Bank Nati onal <br />Association, as Trustee (the “Trustee”); and <br />2. the Financing Agreement, dated as of November 1, 2006, among the Borrower, the Issuer, <br />Washington Capital DUS, Inc., as lender (the “Lender”) and the Trustee. <br />As of the date of this Certificate, the foll owing percentages of completed residential units in the <br />Project (as defined in the Regulatory Agreement) (i) are occupied by Low Income Tenants (as such term is <br />defined in the Regulatory Agreement), or (ii) are currently vacant and being held available for such <br />occupancy and have been so held continuously since the date a Low-Income Tenant vacated such unit; as <br />indicated: <br />Occupied by Low Income Tenants: <br /> __________% Unit Nos. <br />Held vacant for occupancy continuously since last occupied by Low Income Tenant: <br /> __________% Unit Nos. <br />Vacant Units: <br /> __________% Unit Nos. <br />It hereby is confirmed that each Low Income Tenant currently residing in a unit in the Project has <br />completed an Income Computation and Certification in the form approved by the Issuer and tha t since <br />commencement of the Qualified Project Period at least 20% of the occupied units in the Project have been <br />rented to (or are vacant and last occupied by) Low Income Tenants at Affordable Rents (each of the <br />foregoing capitalized terms having the meaning assigned in the Regulatory Agreement). <br />It is hereby certified that the Borrower is in compliance with Section 4A(a) of the Regulatory <br />Agreement. <br />EXHIBIT 1 <br />4-38