19H - INCLUSIONARY AGMT 1901 E FIRST ST

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Location of Inclusionary Units (a) Reasonable Dispersal. The Inclusionary Units to be developed on the Property shall be reasonably dispersed throughout the first four floors of the Project. The Inclusionary Units will not include any "townhouse" units located within the Project. Initially, the first Incluslonary Units to be occupied will occur at the locations identified on Exhibit A to this Housing Plan (the "First Ten Inclusionary Units ") as soon as possible after those units are constructed and ready for occupancy. Going forward after the First Ten Inclusionary Units have been occupied by Eligible Tenants, as each of those initial affordable tenancies ends, the next Inclusionary Units to be occupied need not be the same units as the First Ten Inclusionary Units and may be selected by Property Owner provided that those next Inclusionary Units otherwise comply with the requirements of the Regulatory Agreement and this Housing Plan. This selection process will continue throughout the term of the Regulatory Agreement. (b) Characteristics of Inclusionary Units. The Inclusionary Units shall be comparable to the Market Rate Units in terms of design, materials, finished quality and appearance. However, not all of the units within the Project will be of the same size, have the same amenities, or have the same views. Therefore, while all one and two- bedroom units will have comparable characteristics to other one and two - bedroom units, they may not be - -ldent +cal Residents ofthe-Inclusionary- Unit " wtlthave the same access as all of er tenants to Project amenities and recreational facilities. (c) Phasing. All units within the Project shall be constructed in a single construction phase. No specific units within the Project shall be permanently designated "Inclusionary Units" to allow for the most efficient implementation of the Housing Plan during the term of this Housing Plan. Although the Project will be constructed in a single phase, the release of units within the Project shall occur in phases. The exact number of "rental phases" is within the sole discretion of Property Owner. The First Ten Incluslonary Units shall be made available for occupancy to Eligible Tenants as their respective phases are released. The current phasing plan for the release of units is included as Exhibit 3 to this Housing Plan. Property Owner may change the timing and /or phasing of the release of units provided that the phasing of the release of First Ten Inclusionary Units is not unreasonably deferred. Lease Form. The Property Owner shall submit to the Program Director for approval a standard lease form to be used for the Inclusionary Units. The Program Director shall reasonably approve the lease form upon finding that the lease form is consistent with the requirements of this Housing Plan. The Property Owner shall enter into a written lease, in the form approved by the Program Director, with each Household that occupies an Inclusionary Unit. 2 19H -37