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Unit Type AMI Level 9 of Units Studio 30% AMI 35 Studio 50% AMT 22 One -Bedroom 30% AMI 5 One -Bedroom 60% AMI: 9 Studio Manager Unit 1 C. At initial lease up, households in the HOME assisted units cannot earn more than 50% of AMT, however existing tenants at the Property who are otherwise eligible under the HOME Program may continue their tenancy at the Property. Rental increases shall be in conformance with federal and state law. After the fifteen (15) year HOME compliance period, the City shall require that the units remain affordable, with rents calculated based on assumed household size at the same income levels D. All of the HOME twits will be restricted to occupancy by fifty percent (50%) of the Area Meehan Income (AMT). Current residents whose incomes exceed eighty percent (80%) of the AMI will be increased to either thirty (30%) percent of their monthly household income or market rent for the neighborhood, whichever is lower. E. Maaximunl Occupancy will be two (2) people per room plus one (1), Example for a two- bedroom unit, five (5) people would be maximum occupancy. F. Affordable rents shall be governed by California Health and Safety Code Sections 50052,5 and 50053(b)(2), and as provided in the HOME Regulations 24 CFR section 92.2. G. Developer must have a written lease between tenant and owner for a period of at least one year, unless a shorter period is mutually agrees! upon. Leases must be consistent with HOME Regulations 24 CER. section 92.209(8). H, Rents During Construction/Rehabilitation: (a) All HOME units shall be charged not more than the Low HOME rent, as amended from time to time (currently $914.00 for a one -bedroom twit and $853 for a studio unit). 1. In the event of a foreclosure by Senior Loan the maximum ANI Level for any units other than HOME assisted units restricted as to both income and rent levels at 30% of AMI would thereafter continue to be restricted as to both income and rent levels at 60% of AM1 7.2 Affordable Cross Staflrting Rents (Less Reasonable Utifty Allowance): Initial rents may recalculated to allowable rental amounts at the time of initial lease -up following completion of construction in accordance with any changes in allowable rent and income tables as published by HUD. Affordable rents for non-HOW assisted units will be based on the rents published annually by California Tax Credit Allocation Committee (TCAC). 1.4