RecDoc 2022-044651 IQHQ Elco Yards, L.P.

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(t) "Resident" means a household legally occupying an Affordable Unit pursuant to a valid lease with IQHQ. (u) "Term" means the term of this Agreement, which commences as of the date of this Agreement and, unless terminated earlier or extended by the Parties pursuant to this Agreement, ends fifty-five (55) years from the date that the temporary certificate of occupancy is issued for the Property. (v) "Unit" means one (1) of the approximately Two Hundred Fifty -Two (252) units to be constructed on the Property as part of the Project. ARTICLE 2. AFFORDABILITY COVENANTS 2.1 Occupancy Requirements. The Units shall be occupied by Residents meeting the following income requirements: (a) Low Income Units. Thirty -Eight (38) Units shall be rented to and occupied by, or if vacant, available for occupancy by Low Income Households; and (b) Moderate Income Units. Twenty -One (21) Units shall be rented to and occupied by, or if vacant, available for occupancy by Moderate Income Households. (c) Unit Sizes and Distribution. The Affordable Units shall be distributed throughout the Development and shall consist of Units of the following sizes: Unit Size Low Income Units Moderate Income Units Studio 10 Units 5 Units Jr. One Bedroom 10 Units 6 Units One Bedroom 11 Units 5 Units Two Bedroom 6 Units 3 Units Three Bedroom lUnits 2 Units The Affordable Units shall be of similar quality both in the exterior and interior as the other Units in the Development and shall have the same amenities and finishes as the other Units. Residents of the Affordable Units shall have access to all amenities as the occupants of the Units in the Development. (d) Fair Housing. The Property and Improvements shall be operated at all times in compliance with the provisions of: (1) the Unruh Act; (2) the California Fair Employment and Housing Act, (3) the United States Fair Housing Act, as amended, and (4) any other applicable law or regulation (including the Americans With Disabilities Act, to the extent applicable to the Property and the Improvements). Owner agrees to indemnify, protect, hold harmless and defend (by counsel reasonably satisfactory to the City) the City, and its council members, agents, officers and employees, from all suits, actions, claims, causes of action, costs, demands, judgments and liens arising out of Owner's failure to comply with applicable legal requirements related to housing for persons with disabilities. The provisions of this subsection REV: 04-07-2022 SK ATTY/AGR.2022.067/IQHQ Elco Yards, LP and Kopf & Kopf LLC (Page 4 of 19)