RecDoc 2022-044661 CONF TRS Elco Yards, Inc.

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monitoring fee in the same year that the City charges a fee in connection with the initial lease -up. If the City determines, in the exercise of its reasonable discretion, that the Project requires additional technical assistance or compliance monitoring in an amount in excess of the typical time required for comparable projects, the City shall give the Owner a detailed explanation of the deficiencies and Owner shall have ten (10) days to address the issues identified. If the City determines that the issues have not been adequately addressed, Owner shall pay City for such additional costs at the rate of $179 per hour, as such amount is increased each year by the increase in the consumer price index. All compliance monitoring and technical assistance fees shall be payable to City within fifteen (15) days following City's written request for payment, and City shall have the right to file a Tien against the Property if such fees are not paid within thirty (30) days of such written request. ARTICLE 4. OPERATION OF THE AFFORDABLE PROJECT 4.1 Residential Use. No park of the Project shall be operated as transient housing in which the term of Resident occupancy is less than thirty (30) days. 4.2 Taxes and Assessments. The Owner shall pay all real and personal property taxes assessments, if any, and charges and all franchise, income, employment, old age benefit, withholding, sales, and other taxes assessed against it, or payable by it, at such times and in such manner as to prevent any penalty from accruing, or any line or charge from attaching to the Project; provided, however, that the Owner shall have the right to contest in good faith, any such taxes, assessments, or charges. In the event the Owner exercises its right to contest any tax, assessment, or charge against it, the Owner, on final determination of the proceeding or contest, shall immediately pay or discharge any decision or judgment rendered against it, together with all costs, charges and interest. 4.3 Nondiscrimination. (a) All of the Affordable Units shall be available for occupancy on a continuous basis to members of the general public who are income eligible. Owner shall not give preference to any particular class or group of persons in renting the Affordable Units, except to the extent that the Units are required to be leased to Very Low -Income Households, Low Income Households and Moderate -Income Households. 4.4 Section 8 Certificate Holders. The Owner will accept as residents, on the same basis as all other prospective residents, persons who are recipients of federal certificates or vouchers. for rent subsidies pursuant to the existing housing program under Section 8 of the United States Housing Act, or its successor, The Owner shall not apply selection criteria to Section 8 certificate or voucher holders that are more burdensome than criteria applied to all other prospective residents, nor shall the Owner apply or permit the application of management policies or lease provisions with respect to the Project, which have the effect of precluding occupancy of Units by such prospective Residents. REV: 04-07-2022 SK ATTY/AGR.2022.066/IQHQ TRS Elco Yards, Inc. (Page 9 of 19)