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(3) the cost of an adequate level of service for utilities paid by the <br />Resident, including garbage collection, sewer, water, electricity, gas and <br />other heating, cooking and refrigeration fuel (estimated using utility <br />allowance calculations), but not cable or telephone service; and <br />(4) any other interest, taxes, fees or charges for use of the land or <br />associated facilities and assessed by a public or private entity other than <br />Owner and paid by the Resident. <br />(ee) "Resident" means a household occupying an Affordable Unit. <br />(ff) "Resident Selection Criteria" means the process by which the Owner <br />determines a household's eligibility to reside in an Affordable Unit, as approved by the City. <br />(gg) "Term" which commences as of the date of this Agreement and, unless <br />terminated earlier or extended by the Parties pursuant to this Agreement, ends fifty-five (55) <br />years from the date that the temporary certificate of occupancy is issued for the Property. <br />(hh) "Very Low -Income Household" means a household with an annual <br />Household Income no greater than the maximum income for very low income households, as <br />published annually by the City for each household size, based on either United States <br />Department of Housing and Urban Development (HUD) income limits for San Mateo County or <br />the California Department of Housing and Community Development (HCD) income limits for <br />San Mateo County, as applicable. <br />(ii) "Very Low -Income Rent" means the Affordable Rent permitted to be <br />charged for a Very Low -Income Unit, and as provided to the Owner annually by the City or as <br />published by CTCAC for 50% AMI households, as applicable. <br />6j) "Very Low -Income Units" means Affordable Units required to be <br />occupied by Very Low -Income Households. <br />ARTICLE 2 <br />AFFORDABILITY AND OCCUPANCY COVENANTS <br />Section 2.1 Occupancy Requirements for Affordable Units. <br />(a) Extremely Low -Income Units. Twelve (12) of the Affordable Units shall <br />be rented to and occupied by or, if vacant, available for occupancy by Extremely Low -Income <br />Households as Inclusionary Units. <br />(b) Very Low-income Units. Twelve (12) of the Affordable Units shall be <br />rented to and occupied by or, if vacant, available for occupancy by Very Low -Income <br />Households as Inclusionary Units. <br />(c) Low -Income Units. Ninety -Five (95) of the Affordable Units shall be <br />rented to and occupied by or, if vacant, available for occupancy by Low -Income Households as <br />Inclusionary Units. <br />REV: 07-12-24 VR <br />1199\10\3491196.8 <br />