Agmt17 MP Bradford Associates, LP - DDA

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(i} The identity and age of each household member; and (ii) The total gross household income; Owner shall retain such certificates for not less than five (5) years, and upon City's request, shall provide copies of such certificates to City and make the originals available for City inspection. 3.2 Annual Report; Inspections. Following completion of Project construction, by not later than March 31 of each year during the term of this Agreement, Owner shall submit an annual report ("Annual Report") to the City in form satisfactory to City, together with a certification that the Project is in compliance with the requirements of this Agreement, including without limitation, that the Project is in compliance with the affordability restrictions and tenant occupancy requirements set forth herein. The Annual Report shall, at a minimum, include the following information for each dwelling unit in the Project: (i) unit number; (ii) number of bedrooms; (iii) current rent and other charges; (iv) dates of any vacancies during the previous year; (v) number of people residing in the unit; (vi) total gross household income of residents; (vii) documentation of source of household income; (viii) lease commencement and termination dates, (ix) initial move -in date, and (x) the information required by Section 0. Owner shall include with the Annual Report, Owner's certification regarding the eligibility of each tenant household, and such additional information as City may reasonably request from time to time in order to demonstrate compliance with this Agreement. The Annual Report shall conform to the format requested by City; provided however, during such time that the Project is subject to a regulatory agreement restricting occupancy and/or rents pursuant to requirements imposed in connection with the use of state or federal low-income housing tax credits or tax-exempt bond financing, Owner may satisfy the requirements of this Section 3.2 that pertain to tenant income certification and rents by providing City with a copy of compliance reports required in connection with such financing. In addition to the information described above, the Annual Report shall include the following: (i) A Project income and expense statement for the reporting period; (ii) Proposed annual budget for the next fiscal year which sets forth Owner's estimate of operating income, operating expenses and debt service for the year, amounts payable to reserves and proposed rent adjustments; (iii) A report on maintenance and other issues anticipated to affect the current budget needs of the Project as well as the amount in the Project's reserve accounts and the amount expected to be needed for major repairs or other needs during the new fiscal year; (iv) Information on the status of the waiting list for residential units; and (v) A financial audit of the books and records of the Project prepared in accordance with generally accepted auditing standards by an independent certified public ATY/AGR/2017.218/RWC — BRADFORD — DDA REV: 09-18-17 VR Page 70 of 94