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each rented unit, and indicating which units are rented as <br /> Affordable Units; <br /> v) For each Affordable Unit, the unit size, household size, household <br /> income, income limits for a Qualified Lessee, maximum Affordable <br /> Rent payment for a Qualifying Lessee, utility allowance, and actual <br /> total monthly rent; <br /> vi) Evidence that the income for each tenant of an Affordable Unit <br /> does not exceed the income limits for a Qualified Lessee and <br /> evidence that the rent payment does not exceed the Affordable <br /> Rent. <br /> In the event that City requests additional or different information, Developer shall <br /> promptly supply such information in the reports required hereunder. Developer shall <br /> maintain all necessary books and records, including property and financial records, in <br /> accordance with requirements prescribed by City with respect to all matters covered by <br /> this Agreement. Developer, at such time and in such forms as City may require, shall <br /> furnish to City, statements, records, reports, data and information pertaining to matters <br /> covered by this Agreement. Upon request for examination by City, Developer, at any <br /> time during normal business hours, shall make available at the Property or at another <br /> location in Redwood City all of its records with respect to all matters covered by the <br /> Agreement. Developer shall permit City to audit, examine and make excerpts or <br /> transcripts from such records. <br /> 2.4 Increase in Income . lf, upon recertification of the income of a Qualified <br /> Lessee pursuant to Section 2 .3 above, Developer determines that the tenant's income <br /> has increased and exceeds the qualifying income under this Agreement, then upon <br /> expiration of the tenant's lease and 60 days written notice (which notice may be <br /> provided prior to expiration of the tenant's lease but in no event prior to the annual <br /> income recertification), such tenant's rent may be increased to fair market rent, and <br /> Developer shall rent the next available comparable Project unit (i.e., having the same <br /> bedroom mix and comparable square footage) to a Qualified Lessee, as necessary to <br /> restore the requirements of this Agreement, at an Affordable Rent for such household. <br /> Upon offering for rent the next available comparable Project unit to a Qualified Lessee, <br /> Developer shall have no further obligations under this Agreement as relates to the <br /> replaced unit. <br /> 2.5 Management. Developer shall enter into a separate professional services <br /> agreement with a qualified and professional property management company or other <br /> organization ("Property Manager") acceptable to City in order to operate the Project <br /> (including leasing, property management, and maintenance and repair services) and <br /> ensure that Developer's obligations under this Agreement with respect to the Project are <br /> satisfied ("Management Agreement"). Property Manager shall have at least five years <br /> experience in the operation and management of similar size rental housing projects, <br /> and at least two years experience in the operation and management of rental housing <br /> REV: 04-20-16 VR <br /> Page 4 of 29 <br /> ATTY/AGR.2016.081 /Fuller Street Partners, LLC Affordable Housing Agreement <br />