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<br />Section 2.03.
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<br />Comoliance with Rental Affordabilitv Covenants.
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<br />In order to ensure compliance with this Article, each of the following shall occur:
<br />
<br />(a) Declarant and its successors shall ensure that each lessee
<br />occupying an Affordable Unit on the Property executes under penalty of perjury an
<br />income verification and information form ("lncome Verification and Information Form"),
<br />in a form reasonably acceptable to the City, certifying the less~'s income. Affordable
<br />Units shall be leased only to Qualified Lessees. ,;,~dj:r:;'
<br />. ;'; r ~ j'~, ~ ! .
<br />. :1~~'~I~t!.:.
<br />(b) Declarant and its successors sh~JIHQl)m~1fI" a copy of the federal
<br />income tax return for each lessee occupying an Atkf~~ble!it.l1:.t.nt.for the taxable year
<br />immedi~tely preceding suc~ les~ee's initial occ~~~~y in the ":~(~ct or, if .a lessee
<br />occupYing an Affordable Umt ~rtlfies tha~ he O~i,~~~'chd not file or tlt9~,i~?t retain a copy
<br />of such tax return, or other satisfactory eVld~,~~~iiOf Income for such ye~l:':~,uch as wage
<br />statements or employer records,t!;!!jJilli', ",[[flIp "HH!!I'
<br />
<br />(c) Annually, Declarant and itsqii~~'~~ors shall provide to the City
<br />copies of said executed Income V~rfttion and Irif4\ll,~tion Forms with respect to each
<br />lessee occupying an Affordable OrUtn~.nQ. with a' ~1.100mary for the applicable year
<br />signed ~y Declarant or its suc~ssd~~h~ertiUUr.~;"pomptl~~" with the provisions of this
<br />Declaration under penalty of perjury ::,):,t" F>::,',';l,:, '~i;;'!!j
<br />.: i ;;;.. . :~::'!,i! i,;,~,i,~,;;r";'~';lg!iV:'<"t' "j ,
<br />(d) Tqd~rllWr~b!r;, comPfj~h~j'bf Ded~i~Rt or its successor with these
<br />provisions, the City:r.-$Hall have!~f!right to'iil$pect the books and records pertaining to
<br />such matters of tt1~ ~~~n owner(~~J:~r operatb~l;~) of the Property.
<br />. : ~:~.U.j:!..;. t}J:HH'!,: ;:~~. ~rHif:
<br />S f 204 ",,',::'!! ~!i'ip~~f.~r rtt1'd.
<br />~~:~~m:!'[[:,i" !: I,!! iH inu w iiI ' ";!; I I '~II';'"
<br />!:~H~n'nualtY'! ~Jl~i~ver}dau['.e 30th and December 31 at of every year of the Rental
<br />Aff~~~~mty covena~~'nf~~rn1~tj:Ifl~p1ar~nt shall ~ubm~ an Occupancy Report. The form
<br />of tfiEt.q!~~cupancy Re'p~~ shall~,l'~~. In the dlscretl?n ~f Declarant so long as the
<br />occupaH~y',,Report contalO$', at a mInimum, the follOWing Items:
<br />>:qUlt", "Jl!J,
<br />t-;,t\, TotaJ:rtumber of units of the Project that are occupied;
<br /></HL: i!:[:H!:;"
<br />ii) :qH!lt~af number of units of the Project that are vacant;
<br />
<br />iii) Total number of Affordable Units that are occupied; and
<br />
<br />iv) Total number of Affordable Units that are vacant.
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<br />REDW\O001\DOC\022-3.DOC
<br />12123/08 900 HvT
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