WASHINGTON SANTA ANA HOUSING PARTNERS, L.P

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(c) Initial rents for the Restricted Units must not exceed the applicable rents for the 30% Income Level for the Extremely Low Income units as published by the California Tax Credit Allocation Committee (TCAC). (d) Forty-three (43) Extremely Low Income Units, consisting of sixteen (16) studio units, twenty-six (26) one -bedroom units, and one (1) two -bedroom unit shall be designated as permanent supportive housing (PSH) units for persons experiencing homelessness. (e) Maximum Occupancy will be two (2) people per room plus one (1). Example for a two -bedroom unit, five (5) people would be maximum occupancy. (t) Developer must have a written lease between tenant and owner for a period of at least one year, unless a shorter period is mutually agreed upon. Leases must be consistent with Section 6.14. 7.2. Affordability Levels/Unit Mix: The affordability levels/unit mix for the Restricted Units in the Project are as follows: Unit Size 30% TCAC AMI No. Units Current Rent Studio 16 $711 1 Bedroom 26 $762 2 Bedroom 21 $915 3 Bedroom 17 $1,057 4Bedroom 5 $1,179 Total 85 The remaining unit will be a 2-bedroom unit reserved for the on -site manager. (1) Annually with the financial statements, the Developer shall provide an annual report of rents and occupancy of all units, to verify compliance with affordability requirements. The affordable rents charged at the Project must comply with the most stringent of the standards set forth by TCAC as defined in Affordability Restrictions on Transfer of Property, and during the HOME Compliance Period, the HOME requirements for the HOME assisted units. A utility allowance must be deducted from the maximum affordable rent charged at the Project for each unit. 15 The Crossroads at Washington City NSP Loan Agreement