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(a) of the two (2) bedroom Rental Units in Phase R-1 to <br />Very Low Income Households at an Affordable Rent; twenty (20) of the two (2) bedroom Rental <br />Units in Phase R-2 to Very Low Income Households at an Affordable Rent; <br />(b) (____) of the two (2) bedroom Rental Units in Phase R-1 to <br />Extremely Low Income Households at an Affordable Rent; five (5) of the two (2) bedroom <br />Rental Units in Phase R-2 to Extremely Low Income Households at an Affordable Rent; <br />(c) (_) of the three (3) bedroom Rental Units in Phase R-1 to <br />Very Low Income Households at an Affordable Rent; nine (9) of the three (3) bedroom Rental <br />Units in Phase R-2 to Very Low Income Households at an Affordable Rent; and <br />(d) (___) of the three (3) bedroom Rental Units in Phase R-1 to <br />Extremely Low Income Households at an Affordable Rent; three (3) of the three (3) bedroom <br />Rental Units in Phase R-2 to Extremely Low Income Households at an Affordable Rent. <br />2. Duration of Affordability Requirements. The Rental Units shall be subject to <br />the requirements of this Agreement for the later of (i) fifty-five (55) years from the date of the <br />City's issuance of a certificate of occupancy for the applicable Phase or (ii) repayment in full of <br />the Promissory Note (as defined in the DDA). <br />3. Selection of Tenants. The Developer shall be responsible for the selection of <br />tenants for the Rental Units in compliance with lawful and reasonable criteria, as set forth in this <br />Agreement and the Management Plan which is required to be submitted and approved by the <br />Agency pursuant to Section 9. <br />4. Household Income Requirements. Following the initial lease-up of the Rental <br />Units in each of Phase R-1 and Phase R-2, and annually thereafter, the Developer shall submit to <br />the Agency, at the Developer's expense, a summary of the income, household size and rent <br />payable by each of the tenants of the Rental Units of such Phase. At the Agency's request, the <br />Developer shall also provide to the Agency completed income computation and certification <br />forms, in a form reasonably acceptable to the Agency, for any such tenant or tenants. The <br />Developer shall obtain, or shall cause to be obtained by the Property Manager, a certification <br />from each household leasing a Rental Unit demonstrating that such household is a Very Low <br />Income Household or Extremely Low Income Household, as applicable, and meets the eligibility <br />requirements established for the Rental Unit. The Developer shall verify, or shall cause to be <br />verified by the Property Manager, the income certification of the household. <br />S. Affordable Rent. The maximum Monthly Rent chargeable for the Rental Units <br />shall be annually determined in accordance with the following requirements. The Monthly Rent <br />for the Rental Units to be rented to Extremely Low Income Households shall not exceed the <br />requirements of TCAC and the Monthly Rent for the Rental Units to be rented to Very Low <br />Income Households shall not exceed the more restrictive of (i) TCAC or (ii) the amount set forth <br />in Section 50053(b)(2) of the California Health and Safety Code. <br />For purposes of this Agreement, "Monthly Rent" means the total of monthly <br />payments charged to and paid by tenants or by any other source (e.g. Section 8 vouchers) for <br />(a) use and occupancy of each Rental Unit and land and facilities associated therewith, (b) any <br />ATTACHMENT NO. 7-2 <br />DOC SOG 1400673v 141200272-0001