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<br /> � 97- /0 95��.�
<br /> Secdan 4. Occapaitcy RcsMctlona. For ttte purpose of satisfying the requirements of Section 42 of
<br /> the Code, at least for the Qualified Project Period. the Owner hereby repnsents, covenants and agrees as
<br /> �ollows:
<br /> (a) throughaut the Qualified Project Period (excluding Dwelling Units not previously
<br /> occupied), at least the Applicable Set-Aside Percentage of th�completed Dwelling Units In the Project
<br /> shall be both a R�nt Restrtcted Untt a�d occupied solely by Qualifled Tenants, prior to the satisfactian
<br /> of which no additional units shall be rented or lcased to any other tenants after initial rental occupancy
<br /> of Dwelling Units by Qualified 'fenants, as required by 5ection 42 of the Code. For purposes of
<br /> sadafying the requirement that noi less than the Applicable Set-Aside Percentage of the Dwelling Units
<br /> be occupied by Qualified Tenants, no Qual[fied Tenant shall be denied continued occupancy beeause,
<br /> after admisslon, the Qualified Tenaut's family income exceeds the applicable qualifying incorne level
<br /> set forth in the deflnitloa of "Qualifled Tenant" herein. The Owner shall at all times during the
<br /> Qualifisd Project Perlod maintain the percetttage requirements of this Agreement by provlding the next
<br /> available unIts of comparable or smaller siu to Quallfied Tenants as needed to achieve compliance wlth
<br /> the foregoing requirements. If necessary,the Owner shall refrain from reating Dwelling Units in the
<br /> Project to persons other than Qualified Tenants in arder to avoid violating the requirement that at all
<br /> times during the Qualified Proj�ect Perlod at least the Applicable Set-Aside Yercentage of the completed
<br /> Dwell�ng Units in the Project shall be both a Rent Restrlcted Unit and occupied by QualitTed Tenants;
<br /> (b) w obtain amd maintain on file from each Qualified Tenaat residing in the Project(wtuch
<br /> shall be obta�ned and updated each year durlug occupancy by such tenaut) a copy of such tenant's
<br /> z������uQ�Qf�p�ptia�hility and Income Veri�cation(attached hereto as Exbibit B or in
<br /> such other form and manner as may be required by the applicable rulcs, regulations or policIes now or
<br /> hereafter promulgat�ed by the Authoriry, the Department of tbe Treasury or the Iatemal Revenua
<br /> Service), as weU as supp�rting documentatlon, wtuch is subject to independent investigadon and
<br /> verification by the Authority and which shall be submitted to the Authority as set forth ia(c) below;
<br /> (c) the Owner will immediately nodfy the Authodty if at any time the Dwelling Units in the
<br /> Project are not occupied or available for occupancy as provided above, and the Owner will prepare and
<br /> submit to the Authority, not later than January 15 of each year following the first year ia wtuch 109b
<br /> of the units in the Project are occupied, a Certificate of Contiauing Program Compliance (tGe forna of
<br /> which is attached hereto as Exhibit C)and an Annual Tax Credit SuAUnary Report(the form of whieh.
<br /> is attached hereto as Exhibit D), both executed by the Owner stating the number of Dwelling Urrits of
<br /> the Project which, as of the flrst date of each calendar year, were accupied by Qualified Tenants (or
<br /> were deemod to be occupied by Qualified Tenants as provided in subparagraph(a)above for all or part
<br /> of such period), together wlth copies of annual Certificadons of Tenant Eligibility aud Incorae
<br /> Verification(and supporting documentation)collected by the Owner;
<br /> (d) the Owner shall collect and keep records for each qualified low-income building in the
<br /> Project that show for each year during the Qualitied Project Period the following information for each
<br /> bwilding in ihe Project and retain such records for at least six years after the due date(with exl�ensions)
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