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200109053 Program Compliance ( LIHTC) (a copy of the Form 8609 Schedule A Annual Statement and the Annual Tax Credit Summary Report (the form of which is attached as Exhibit G)), executed by the Borrower and a statement including the number of Dwelling Units of the Project which, as of the first date of each calendar year, were occupied by Qualified LIHTC Tenants (or were deemed to be occupied by Qualified LIHTC Tenants as provided in subparagraph (d) above for all or part of such period), together with copies of annual Income Certifications (and supporting documentation) collected by the Borrower and not previously submitted and (iii) in each case, a certification to the effect that (i) either (A) no unremedied default has occurred under this Regulatory Agreement, or (B) a default has occurred, in which event the certificate shall describe the nature of the default in detail and set forth the measures being taken by the Borrower to remedy such default; and (ii) that, to the knowledge of the Borrower, no Determination of Taxability has occurred, or if a Determination of Taxability has occurred, setting forth all material facts relating thereto. The Borrower will immediately notify the Issuer if at any time the Dwelling Units in the Project are not occupied or available for occupancy as provided above; (i) on or before each February 15 during the Qualified Project Period (Bonds) the Borrower will submit to the Issuer a draft of the completed Code Form 8703 or such other annual certification required by the Code to be submitted to the Secretary of the Treasury as to whether the Project continues to meet the requirements of Section 142(d) of the Code. On or before each March 31 during the Qualified Project Period (Bonds) the Borrower will submit such completed form to the Secretary of the Treasury, regardless of whether or not the Issuer has responded to such draft; (j) each lease or rental agreement pertaining to a Dwelling Unit shall contain a provision to the effect that the Borrower has relied on the income certification and supporting information supplied by the Low Income Tenant, Qualified LIHTC Tenant or Moderate Income Tenant, as the case may be, in determining qualification for occupancy of the Dwelling Unit and that any material misstatement in such certification (whether or not intentional) or failure to provide supporting income verification or failure by such person to annually update the Income Certification will be cause for immediate termination of such lease or rental agreement, and such person shall be subject to (and by execution of the lease or rental agreement, consents to) immediate eviction proceedings in accordance with State law for failure to qualify as a Low Income Tenant, Qualified LIHTC Tenant or Moderate Income Tenant, as applicable. Each such lease or rental agreement shall also provide that the tenant's income is subject to annual certification in accordance with Section 4(f) and to re- certification if the number of occupants in the units increases and that if upon any such certification such tenant's Adjusted Income exceeds 140% of the then applicable income limit for a tenant of the same family size, such tenant may cease to qualify as a Low Income Tenant, Qualified LIHTC Tenant or Moderate Income Tenant, as the case may be, and such tenant's rent, if restricted, is subject to increase if after such determination of income but prior to the next determination any Dwelling Unit of comparable or smaller size is rented to a tenant who is not a Qualified LIHTC Tenant; (k) the Borrower shall collect and keep records for each qualified low- income building in the Project that indicate for each year during the Qualified Project Period ( LIHTC) the following information for each building in the Project and retain such records for at least six years after the due date (with extensions) for filing the federal tax return for that year (provided, however, that the records for the first year of the Qualified Project Period ( LIHTC) must be retained for at least six years beyond the due date (with extensions) for filing the federal income tax return for the last year of the compliance period of the building): -13-