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<br /> 2) Occupancy Report. Biannually on every June 30th <br /> and December 31st of every year the Declaration of <br /> Affordability Covenants is in effect, the <br /> Participating Owner shall submit an Occupancy Report. <br /> The form of the Occupancy Report shall be in the <br /> discretion of the Participating Owner, so long as the <br /> Occupancy Report contains at minimum, the following <br /> items: <br /> i) Total number of Units of Project that are <br /> occupied¡ <br /> ii) Total number of Units of the Project that <br /> are vacanti <br /> iii) Total number of units occupied by households <br /> earning 60% of the AMI¡ and <br /> iv) Total number of units occupied by households <br /> earning 50% of the AMI. <br /> 5. Events of Default¡ Enforcement. In the event of <br /> a default in the performance or observance of any covenant, <br /> agreement or obligation as set forth in this Declaration and, if <br /> such default remains uncured for a period of thirty (30) days <br /> after notice thereof shall have been given by the City and/or <br /> the Agency, or such longer period as may be approved by the <br /> Agency in writing in its sole discretion, then the City and/or <br /> the Agency may declare that an Event of Default has occurred <br /> hereunder and may take any one or more of the following steps, <br /> at its option: <br /> (a) By mandamus or other suit, action or <br /> proceeding at law or in equity, require the <br /> Declarant or its successors in interest to <br /> perform its obligations and covenants hereunder, <br /> or enjoin any acts or things which may be <br /> unlawful or in violation of the rights of the <br /> City and/or the Agency hereunder¡ and <br /> (b) Take whatever other action at law or in <br /> equity may appear necessary or desirable to <br /> enforce the obligations, covenants and agreements <br /> hereunder, including, without limitation, <br /> foreclosure of the Deed of Trust if not <br /> previously reconveyed¡ and <br /> 7 <br />