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' 2� 1 ��8379 sha�� be made at �east annual�y on the basis of the current income �f such occupants. Any Dwe�ling Unit occupied by an individual or family who is a Quali�ed Tenant at the commencement of occupancy shall continue to be treated as if o��upied by a Quaiified Tenant, provided that, should such �ualified Tenant's income subsequent�y e�ceed 14D% of the applicable income �imit, such tenant sha�l no longer b� a Qualified Tenant if, after sueh determinatian af income, but prior t� the ne�t determination, an� residential unit �f comparab�e or sma��er size is rented to a tenant�vho�s not a Qual�fied Tenant. "Qr�atified Unit�" means a res�dential unit in the Project designated for �ccupancy by �ualified Tenants. "�2elated Persans" means t�vo or more persons related within the meaning �f �ec�ian I47(a}�2} af the Code, inc�uding, buti nat 1im�ted to, famil�al and trust relatiansh�ps, ac�ual or attributed partnersh�p interests, related corp�rations and certain corpora�e shareholders. "Rent RestrictQd Unit" means a Dvvelling Unit if the gross rent with respe�t t� the I]we�iing Unit does not e�ceed 3�°]0 of the imputed incame limitat�on applicable t� such Dwelling Un�t �l�ased on the number of bedraoms therein �n accordan�e vv�th Secti�n 42�g}(�}�C� of the �ode�. "�2equi�-ed Number of �'ears" means the number of years after the �ccupancy Date on which the Quali�ed Project Period e�pires and as set forth�n the Summary Page. "Required �urnber of C�mpriance �'ears" means the number of years after the �ccupancy Date on �vhich the Qualified Project Period e�pires as set forth on the Summary Page. Section 2. Representation, Covenants and Warranties of the �wner. The �vvner makes the fo�lowing representations and warranties �o induce the Authority to enter into this Agreement and further represents, warrants and covenants that: �a} The �vvner t�} �s a �egal �rganization as described on the Summary Page hereof organized under the Iaws of the state �dentified on the Summary Page �hereof and is qua��fxed to transact busxness under the la�vs of the State of Nebraska, (ii} has the power and authority t� ovvn its properties and assets and to �arry on its bus�ness as now being conducted (and as contempla�ed by this Agr�ement� and (ii�} has the full �egal right, pow�r and authority to e�ecute and deliver this Agreement and ta perform ai� the undertakings of the �wner hereunder. (b) The e�ecution and performance af this Agreement by the ��vner �i� wi�l not violate or, as applicable, have not �i�lated any pr�vision of lavv, rule or regulation nr any �rder of any court or o�her agenc� �r governmenta� bad�, �ii} wi11 not vi�late or, as ap��icable, ha�e not �iolated any provisi�n of any indenture, agreement, m�rtgage, mortgage note or other instrument to which the �wner is a �arty �r by which it �r its property is bound and (ixi} w�ll not r�sult in the �rea�ion or impo�ition �f any prohibited �ien, charge or�r�cumbrance of any nature. (c} The ��vner w�Il, at th� time of e�ecution and delivery af this Agre�ment, have good and marketable title t� the premises canstituting the Project fre� and clear of any pr��r li�n or�ncumbrance.