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202208480 "Dwelling Units" means the units of multifamily residential rental housing comprising the Project. " Functionally Related and Subordinate" means and includes facilities for use by tenants; for example, laundry facilities, parking areas and recreational facilities, provided that the same are of a character and size commensurate with the character and size of the Project. "Occupancy Date" means the first day on which the Project is placed in service, as set forth on the Summary Page hereof. "Project' means the Project Site and all buildings, structures, fixtures, equipment and other improvements now or hereafter constructed or located upon the Project Site. " Project Site" means the real property described in Exhibit A attached hereto. "Qualified Basis" as set forth on the Summary Page. "Qualified Contract Required Number of Years" means the minimum number of years after the Occupancy Date, as set forth on the Summary Page (or if an election is made by the Owner pursuant to Section 42(f)(1) of the Code, after the succeeding taxable year set forth on the Summary Page), after which this Agreement shall terminate subject to the terms of Section 5 of this Agreement, provided that the Owner has requested that the Authority assist in procuring a "qualified contract" in accordance with Section 42(h)(6) of the Code and that the Authority or other entity has been unable to present such a qualified contract. "Qualified Tenants" means and includes individuals and families whose income is equal to or less than the Applicable Income Percentage of area median gross income (including adjustments for family size) as elected and determined in accordance with the Code and Regulations. Except as otherwise provided herein, the occupants of a Dwelling Unit shall not be considered to be of low income if any occupant is a student (as defined in Section 151(c)(4) of the Code). Notwithstanding the foregoing, a Dwelling Unit is not disqualified as a Qualified Unit merely because it is occupied (i) by a student receiving AFDC or TANF assistance under Title IV of the Social Security Act, (ii) by a student who was previously under the care and placement responsibility of the state agency responsible for administrating a plan under Part B or Part E of Title IV of the Social Security Act, (iii) by a student in a government -supported job training program, (iv) entirely by full-time students who are single parents and their children, provided such occupants are not dependents 5 Final 12/21