80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT J

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cornpliarlce ~vitll the Ianaget~exlt Flan ~vllicll is appraved by the Agency, The Agency ller•eby approves Related Nia~~aemerlt ornpany, L,P. the Proper;ty anager• far` each Phase of the Re~ltal Portion, If the Agency deternlirles that the peg#fo~4n~ance of the Pr'aper'ty ~atlage~# as to a pai~ticula~~ Phase is deficient based upan the standards set forth in the anaen~rent Flan a~ld in thrs Agreenlent, the Aex~cy shall provide notice to the Developer of s~cll deficiencies, atld the Developet• shall ~~se its best effar'tS to cor~•ect s~~ch deficierlcies. Irl the event that Stich deficrerlcres have nat been c~zt`ed ~vitl~it~ the tune set far~th rn ect~o~~ a~, the Agency shall have the night to r~er~i~•e the Developer• to irnrnediately ret~love atld replace the Pr+opert~ N~anaer• for such Phase ~vitll another prope~~ty tllazlaet• or praperty rna~laeme~lt cotnptly ~vhicll iS reasarlably acceptable to the Agetlcy, ~vllich is not related to or affiliated ~~rth the Developer, alyd ~vllieh has not less than five ~S} years experietlce p~•operty tnarlagernent, i~lclr~ding s~gnifica~lt exper~e~lce ~naC~aglt~g llousrng facrlrt~es of the s~ze~ quality and scope of the applicable Fllse of tl~e Rental I°ar•~ian of the Pro ject~ 4~~~~~ ~o~ri~orirrg allc~ ecarcikceping. Th~'ot~llout the Affordability Period, Develope~• shall co~nply ~vitll all applicable reco~`d~eepitlg arld rnanitar~itl regtrire~nent set forth ill Health at~d Safety bode Sectioil 3418 a~ld s~lall antr«ally car~lplete and submit to the Agency a report, prior• to ~atluary ~atl~ of each year, far each Phase of the Retltal Portion ~l1iCh incllydes the name, address, inco~ne atld age of each accupatlt of a Rental Unlit, the bedroom count and atltl~ly F.e~~t fat` st~cll Rental Ilrlrt. The Agency a~•ees that the Developer tray st~b~l~it reporting for{nls p~•epared and st~brnitted i~l car~t~eet~on with a~ly other similar t'epo~~titlg r•egt~iriernent, ~trclt~d~ng 1'epar'ts prepared fog` tax ~1'~dlt co~npllarlce, to the ~?~terlt those for•rl]s cantalll the itrforrnatiarl required herer~nder. Representatives of the Agency shall be entitled to etlter eaell Phase of the Rental For•tiorl of the Praect, l~potl at least seve~lty-tea ~7~} llot~~'s prior ~ritterl ~latice, to ~r~o~litor` cotnplra~lce ~v~~ll tllls A~•een~etrt, to inspect the r~C~rds, and to conduct an i~ldepe~lderlt atrdit ar' r~lpect~o~l of such t`ecords, The Develope~~ agrees to cooperate with the Agency in nlakirlg each Phase of the Re~ltal Fortia~l of the Project available foci such inspectiotl or ar~dit• Tile Developer agrees to rnaintaiil records in a bt~sirlesslike lllanne~•, old to rnrntarrl such reca~•ds for the terrn of this Areernelltf 4D~,11 Reguiafa~~y AgreetYirit ally Natice of ,Affor~~~abiiity ~estrictin~~s, The requrrenlerltS of this A~•eenlent ~vlrlcll are applicable to the Rental Portion of the Pro ject after the canveyat~ce of the Site to the Developer a~•e set forth in each Regulatory Agr•ee~llent. Additionally, the l~evelaper shall record a Notice of Affordability Restrictions on Transfer of Pr•oper•ty ~`~otice of Affo~~dablllty Restrictions"} as to each Phase of the Rental Portiotl of the Project in the fox`~n attached llereta as Attachment l~ and itlcat•ported ller'ein by this z'eference, ~vhicll shall rr?n with tale land and shall be enforceable against arly owner ~vho violates a covenant or restrictiarl and each successor i~l inter`est ~vho contirirres the violation pt~rst~ant thereto The exectrtian of a Regulatory Agr•ecrnent acrd the Developer's exct~tiorl of a Natice of Affo~•dabllrty Ret~`1Ctlons rs a olldrtro~l precedent to the las~I~g far` a Phases as Set fo~`th ltl eCtlor12a4, The Age~~cy shall st~bardinate this Agr`cen~ent, each Regulatory ,Agreetnerlt and Natice of Affordability Restrictio~ls to the construction and pern~ar~ent financing approved pt~rst~atlt to Section ~ f ~ by the execution of a rtborditratio~l agreerne~lt in a for•~~n deter~nined to be a•easonably acceptable to the ~xeer~tive Director ~~~~'~~~'1 ~