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DocuSign Envelope ID: El A0E30C-7C28-45F5-8C00-3FE5E3A80950 202401002 proper recordation of the legal instrument used by the Recipient to enforce the eligibility and affordability requirements. The legal instrument used must "touch and concern" the land, "burden and benefit" the respective parties, and "run with the land" so as to be binding upon the Owner and any successors in title to the applicable Project real estate and upon their heirs, legal representatives, successors, or assigns. Beginning the date of Project completion, the Trust Fund -assisted units must remain affordable for the affordability period established in Recital C of the contract. Project completion occurs, and the affordability period typically begins, when 100% lease -up is achieved of ALL units in the Project. Rental Rehabilitation Projects with existing tenants may have special circumstances for determining the start of the affordability period. The Certificate of Completion letter for the Project will be the official record that defines Project completion and the affordability period for Units. §3.04 Monitoring Duties of the Recipient and Project Documentation. During the period of affordability, the Recipient will undertake, be responsible for, and complete all monitoring activities required by the Department and must maintain documentation of such monitoring activities on a current basis and for five (5) years after the period of affordability. The Department may require the Recipient to provide documentation regarding the status of all required monitoring activities at any time. The monitoring activities include, but are not limited to: (a) Recipient will assure all tenants have undergone income verification prior to their move -in date, or prior to the start of any rehabilitation activity (if project has existing tenants), to ensure income eligibility of those occupying the assisted housing units. A system for Annual reviews may be conducted by Recipient or as prescribed by the Department for the purpose of verifying that such units are occupied by eligible tenants throughout the affordability period. (b) Throughout the contract and affordability period of a rental project, contract rents charged to tenants will be checked annually for compliance using the most current published limits accepted by the Trust Fund Program. The initial Project housing unit rents shall have rents in accordance with the rent limits in the approved Pro Forma. (c) Annual review to ensure compliance with Housing Quality Standards to ensure units are maintained at decent, safe, and sanitary housing standards. (See reference for additional guidance: https://www.hud.gov/program_offices/public_indian_housing/programs/hcv/hqs). (d) Annual review to ensure that tenant applicants for units in the Project are not refused for leasing based on participation in any HUD rental assistance program. (e) The Recipient must also ensure that fees for utilities and services for the Project are reasonable. The above monitoring information should be kept on file including dates of unit inspections. The Department may at any time request proof of monitoring. NAHTF 23-TFRH-34010—Page 9 of 18