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<br /> thereof, the Developer shall in~rnediately deliver' to the Agency a copy of any n~o.tgage holder's <br /> <br /> notice of defa~~lt and the Agency sl~all h.ve tl~e eight b~~t rra obligation to c~~r'e the default if the <br /> Developer fails to cure ~~vithin thirty days after fhe Agency notifies the Developer' of its <br /> intention t~ c~lt'e. In s~rch event, tl~e Agency shall be entitled to reir~bursement frorn tl~e <br /> <br /> Developer of all prope~i costs arrd exper~ses incurred by the Agency ire curing suel~ default The <br /> Agency shall also be er~titled to a lien ~rpan the applicable Phase to the extent of s~~ch casts arld <br /> disbl~rsen~errts, Any srrcl~ yen slrall be junior and suhordrnate to tl~e r~~or•tgaes or deeds of trust <br /> ~ri~'sua~~t to this ectio~~ ~ ~ G~ <br /> ~00~ ~~~RAT~~N I` T~~ PROJC~T, <br /> 4D~. ~rav~slar~ of x#r'cxnely and ~ct~ ~a~~ irconie Rental Horrsrrrg-Rerx#aI <br /> far'#lozr of ~Iie Prajec#, <br /> ~U1,1 Nirn~I~er• of Affordable Rcri#al ~riits, Pursuant to t1Yis Agreement at~d the <br /> Regulatory Agreer~e~~t, tl~e Developer cove~~ar~ts and agrees to make available, ~~estrict <br /> occupancy to, a~~d Vent the Rental U~~its at an affordable rent pursuant to ectlon X01,5 a <br /> falla~s, <br /> ~a~ Thirty-Mine X39} of <br /> tl~e tea bedroot Rental units ire Phase R-1 <br /> to ~e~~y I~~~v Income I~ousel~olds at an Affordable Rerrt; twenty X20} of the vo bedroom <br /> Rental Units t~l Phase R-2 to fiery Lo~v Ir~cor~re PIorrsel~olds at an Af~'ardable Rent; <br /> Eleven ~1 of the t~vo ~2~ bedraor~~ Rental Units l~1 Pl~se R-1 to <br /> ~xtren~ely ~a~v Income Hor«el~olcis a~ are Affoz~dable Rent; five of the t~vo bedroom <br /> Rel~tal Units irr Phase R~~ to Extremely Lo~v Income Plousehalds at an. Affordable Rent; <br /> ~c~ Nri~eteen ~19~ of the three bedroom Rental I~r~its in Phase R-1 <br /> to'~ery Lo~v It~co~~~e households at n Affor•~lable Rent; ~~~~~e ~9} ofthe three bedroom Rental <br /> Units in Phase R~2 to fiery I~a~~r ~nconle ~.ouseholds at an Affordable Rent; and <br /> ~d~ ~oul• of tl~e three ~3} bedroot~ Rental Units in Phase R-I to <br /> Extrer~~ely La~v ~ncotrre I~or~seholds at an Affordable Rent; three of the three bedroom <br /> Rental Units its Pease R-2 to Extremely Lo~v Irrcorrre I~or~seholds at an Affordable Rerrt~ <br /> ~01,~ fur{a#ior~ of Affor~iabili#y Re~ulr'eirlents, The Rental Units shall be <br /> sr~bject to the requirements of this Agreement for' the later of ~i~ fifty-eve ~55~ years fr'arn tl~e <br /> date of the pity's ~ssua~lce of a certificate of occupancy for tl~e applicable Phase or err} <br /> repayment in full ofthe Note. <br /> ~U1.3 ele~iorr of Terran#s, The Developer shall be responsible for' the <br /> selection of tenants far the Rental Units in cotr~plia~ice with lawful and reasonable criteria, as set <br /> forth i~l tl~e Reg~~latary Agreement and the anagetent Flan which is re~rtlred to be submitted <br /> and. approved by the Age~~cy pt~ais~zar~t to Section 1,9, <br /> ~0~~~ I~a~lsehaid Ir~coznc Req~llremen~~~ ~ollov~ing the initial lease-~~p of the <br /> Rental Units in eaclr of Plrase R~ 1 at~d 'hale and an~~~~ally thereafter, tl~e Developer shall <br /> subr~~it to the Agenc~r, at the Developer's expense a su~rrrrlar{y of the income, lrousehold sire acid <br /> D~C~C#~~~~~7~~i131~4~~~~-~~~1 <br /> <br />