RecDoc 2022-011753- Regulatory Agreement

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2.6 Condominium Conversion. The Owner shall not convert the Project to condominium or cooperative ownership or sell condominium or cooperative conversion rights to the Property during the Term of this Agreement. 2.7 Units Available to the Disabled. Owner shall construct the Project to comply with all applicable federal and state disabled persons accessibility requirements including the Federal Fair Housing Act, Section 504 of the Rehabilitation Act of 1973, Title II and/or Title III of the Americans with Disabilities Act of 1990, and Title 24 of the California Code of Regulations. ARTICLE 3. INCOME CERTIFICATION AND REPORTING 3.1 Income Certification. The Owner will obtain, and complete, as a condition to initial occupancy and maintain on file annually thereafter, income certifications from each Resident renting any of the Units. The Owner shall make a good faith effort to verify that the income provided by an applicant or occupying household in an income certification is accurate by taking two or more of the following steps as a part of the verification process: (a) obtain a minimum of the three (3) most current pay stubs for all adults age eighteen (18) or older; (b) obtain an income tax return for the most recent tax year; (c) conduct a credit agency or similar search; (d) obtain the three (3) most current savings and checking account bank statements; (e) obtain an income verification form from the applicant's current employer; (f) obtain an income verification form from the Social Security Administration and/or the California Department of Social Services if the applicant receives assistance from either of such agencies; or (g) if the applicant is unemployed and has no such tax return, obtain another form of independent verification. Copies of Resident income certifications shall be available to the City upon request. 3.2 Annual Report to City,. (a) The Owner shall submit to the City not later than the March 31 of each calendar year, a statistical report, including income and rent data for all Units, a report on resident services provided by the Owner and by third parties, including resident services provided for special needs tenants, a report on expenditures for resident services, an assessment of compliance with the approved Management Plan as defined in Section 5.1, an evaluation of the Management Agent, and a report on the status of the waiting list for residential units. 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, (x) the information required by Section 3. 1, (xi) a description of any resident services provided at the Property, and (xii) any other information or completed forms requested by the City. 3.3 Additional Information. Within fifteen (15) days after receipt of a written request, the Owner shall provide any additional information reasonably requested by the City. The City shall have the right to examine and make copies of all books, records or other documents of the Owner, which pertain to the Project. REV: 01-19-2022 SK ATTY/AGR.2022.005/GS HIP 1304 ECR, LP (Page 8 of 23)