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99 �oss5 � (p) the Project constitutes or will constitute a qualified low-income building or qualified low-income project, as applicable, as defined in Section 42 of the Code and applicable regulations. Section 4. Low Income Tenants; Qualified LIHTC Tenants; Moderate Income Tenants; Records and Reports. Pursuant to the requirements of the Code and the Act, the Borrower hereby represents, warrants and covenants as follows: (a) The Borrower shall execute and deliver to the Issuer and each Trustee a copy of a certificate identifying the beginning date and earliest ending date of the Qualified Project Period(Bonds)and the Qualified Project Period(LIHTC),in substantially the form attached as Exhibit E hereto or such other form as may be required by the Issuer. (b) Throughout the Qualified Project Period (Bonds) at least the Applicable Set-Aside Percentage (Bonds) of the Dwelling Units shall be occupied by Low Income Tenants before any additional Dwelling Units are occupied by persons who are not Low Income Tenants; and for the Qualified Project Period(Bonds) no less than the Applicable Set-Aside Percentage (Bonds) of the total number of completed Dwelling Units of the Project shall at all times be rented to and occupied by Low Income Tenants. For the purposes of this paragraph (b), a vacant Dwelling Unit which was most recently occupied by a Low Income Tenant is treated as rented and occupied by a Low Income Tenant until reoccupied, other than for a temporary period of not more than 31 days, at which time the character of such Dwelling Unit shall be redetermined. In determining whether the requirements of this paragraph(b)have been met,fractions of Dwelling Units shall be treated as entire Dwelling Units. (c) No tenant qualifying as a Low Income Tenant shall be denied continued occupancy of its Dwelling Unit in the Project because, after admission, such tenant's Adj usted Income increases to exceed the qualifying limit for Low Income Tenants;provided, however, that should a Low Income Tenant's Adjusted Income, as of the most recent determination thereof, exceed 140%of the then applicable income limit for a Low Income Tenant of the same family size,the next available Dwelling Unit of comparable or smaller size must be rented to (or held vacant and available for immediate occupancy by) a Low Income Tenant;and provided further that,until such next available Dwelling Unit is rented to a tenant who is not a Low Income Tenant,the former Low Income Tenant who has ceased to qualify as such shall be deemed to continue to be a Low Income Tenant for purposes of the Applicable Set-Aside Percentage(Bonds)requirement of paragraph(b)of this Section 4. (d) Throughout the Qualified Project Period(LIHTC),(excluding Dwelling Units not previously occupied) at least the Applicable Set-Aside Percentage (LIHTC) of the completed Dwelling Units in the Project shall be both a Rent Restricted Unit and occupied by Qualified LIHTC Tenants,prior to the satisfaction of which no additional Dwelling Units shall be rented or leased to any other tenants after initial rental occupancy of Dwelling Units by Qualified LIHTC Tenants, as required by Section 42 of the Code. For purposes of satisfying the requirement that not less than the Applicable Set-Aside Percentage (LIHTC) of the Dwelling Units be occupied by Qualified LIHTC Tenants,no Qualified LIHTC Tenant 14