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(2) Such Resident's Rent may be increased to a Very Low -Income <br />Rent or a Low -Income Rent, as applicable, upon sixty (60) days written notice to the Resident; <br />and <br />(3) The Owner shall rent the next available Very Low -Income or Low - <br />Income Unit, as applicable, of comparable size to an Extremely Low -Income Household at an <br />Extremely Low -Income Rent. <br />(b) VM Low -Income Household to Low -Income Household. If, upon <br />recertification of a Household's Income, the Owner determines that a former Very Low -Income <br />Household's Income has increased and exceeds the qualifying income for a Very Low -Income <br />Household but does not exceed the qualifying limit for a Low -Income Household, then, upon <br />expiration of the Resident's lease term: <br />(1) Such Resident's unit may be considered a Low -Income Unit; <br />(2) Such Resident's Rent may be increased to a Low -Income Rent, <br />upon sixty (60) days written notice to the Resident; and <br />(3) The Owner shall rent the next available Low -Income Unit of <br />comparable size to a Very Low -Income Household at a Very Low -Income Rent. <br />(c) Non -Qualifying Household. If, upon recertification of a Household's <br />Income, the Owner determines that a former Extremely Low -Income Household, Very Low - <br />Income Household or Low -Income Household has a Household Income exceeding the maximum <br />qualifying income for a Low -Income Household, such Resident shall be permitted to continue <br />occupying the unit and upon expiration of the Resident's lease and upon sixty (60) days written <br />notice, the Resident may continue to reside in the unit and the Rent may be increased to the <br />lesser of one -twelfth (1/12th) of thirty percent (30%) of actual adjusted income of the Resident, <br />or fair market rent. Affordable Developer shall rent the next available Unit to an Extremely Low <br />Income Household, a Very Low Income Household or a Low Income Household as applicable to <br />comply with the requirements of Section 2.1 above, at a Rent not exceeding the maximum Rent <br />specified in Section 2.2. The parties hereto agree that, notwithstanding any increase in a <br />Resident's income, such Resident may only be evicted from their unit for cause consistent with <br />the requirements set forth in Section 1946.2 of the California Civil Code. <br />(d) Termination of Occupancy. Upon termination of occupancy of a unit by a <br />Resident, such Affordable Unit shall be deemed to be continuously occupied by a household of <br />the same income level (e.g., Extremely Low -Income Household, Very Low -Income Household <br />or Low -Income Household) as the last income level for which the vacating Resident qualified, <br />until such Affordable Unit is reoccupied, at which time the income character of the Affordable <br />Unit (e.g., Extremely Low -Income Unit, Very Low -Income Unit or Low -Income Unit) shall be <br />redetermined. In any event, Owner shall maintain the occupancy requirements set forth in <br />Section 2.1 above subject to adjustment periods that may result from compliance with this <br />Section 2.3. <br />1199\10\3491196.8 9 <br />REV: 10-18-23 SK <br />