80A - JOINT - LOAN AGMT AMCAL - Laserfiche WebLink

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Bedroom Size 30% AMI 40% AMI 50% AMI 60% AMI Manager's Unit Total Two Bedroom 29 0 4 1 1 35 Three Bedroom 4 0 17 7 28 Four Bedroom 1 0 0 5 6 Totals 34 0 21 13 1 69 * The affordable rents charged at the Project must comply with the standards set forth by the California Tax Credit Allocation Committee (TCAC). * Utility allowances must be deducted from the Maximum Gross Monthly Rent. The Housing Authority of the City of Santa Ana publishes a utility allowance schedule on an annual basis, provided, however, in lieu of the utility allowance published by the Housing Authority the Developer may elect to use the California Utility Allowance Calculator to the extent allowed by TCAC. 7.3 Rent Increases: On an annual basis, the City shall provide the Developer with the maximum allowable schedule of rents for the Property which shall correspond to the maximum rent increase allowed by TCAC. In no event can Developer charge any tenant more than such amount. 7.4 Maintenance of the Propertv. Solely at Developer's expense, Developer agrees to maintain the Property in a clean and orderly condition and in good condition and repair and keep the Property free from any accumulation of debris and waste materials. If at any time Developer fails to maintain, or cause to be maintained, the Property as required by this section, and said condition is not corrected after the expiration of a reasonable period of time not to exceed thirty (30) days from the date of written notice from the City, unless such condition cannot reasonably be cured within thirty (30) days, in which case Developer shall have such additional time as reasonably necessary to complete such cure, the City may perform the necessary maintenance and Developer shall pay all reasonable costs incurred for such maintenance. The City shall inspect the Property annually after the date of issuance of the Certificate of Completion as described in Section 17 of this Agreement. 7.5 Obligation to Refrain from Discrimination. Developer covenants and agrees for itself, its successors, its assigns and every successor in interest to the Property or any part thereof, that there shall be no discrimination against or segregation of any person or group of persons on account of race, color, creed, disability, religion, sex, marital status, ancestry or national origin in the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the Property nor shall Developer itself or any person claiming under or through him establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or vendees of the Property. The foregoing covenants shall run with the land and shall remain in effect for the term of the Agreement. 8. DEFAULTS AND REMEDIES 8.1 Event of Default. Failure or delay by either party to perform any term or provision of this Agreement within the time periods provided herein for such performance constitutes a 16 80A -22