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Section 3.2 Reporting and Audits. The Affordable Developer shall submit to the City, not later than the ninetieth (90") day after the close of each calendar year after completion of the Affordable Development, a compliance report, in a form approved by the City, summarizing the income information of each Resident and occupancy status of each Affordable Unit. in addition, the City or any designated agent or employee of the City at any time shall be entitled to audit all Affordable Developer's books, records (including tenant files), and accounts pertaining solely to the Affordable Units. Such audit shall be conducted during normal business hours, upon at least two (2) business days prior written notice, at the principal place of business of Affordable Developer and other places where records are kept. (a) The Annual Report shall, at a minimum, include the following most recent information for each dwelling unit in the Affordable Development, but is not limited to: (1) unit number; (2) number of bedrooms; (3) current rent and other charges; (4) dates of any vacancies during the previous year; (5) number.of people residing in the unit; (6) total gross household income of residents; (7) documentation of source of household income; (8) lease commencement and termination dates; (9) initial move -in date; and (10) any other information or completed forms in accordance with the Affordable Housing Program Guidelines, or as reasonably requested by the city. (b) In addition to the information described above, the Annual Report shall include the following: (1) a project income and expense statement for the reporting period; (2) proposed annual budget for the next fiscal year in accordance with Section 3.5 below; (3) a report on maintenance and other issues anticipated to affect the current budget needs of the project as well as the amount in the project's reserve accounts and the amount expected to be needed for major repairs or other needs during the new fiscal year; (4) information on the status of the waiting list for residential units; and (5) a financial audit of the books and records of the project prepared in accordance with generally accepted auditing standards by an independent certified public accountant. Section 3.3 Additional Information. Within fifteen (15) days after receipt of a written request, Affordable Developer shall provide any additional information reasonably requested by the City relating solely to the Affordable Units. The City shall have the right to examine and make copies of all books, records or other documents of Affordable Developer which pertain to the Affordable Units. The City shall notify Affordable Developer of any records it deems insufficient. Affordable Developer shall have thirty (30) days after the receipt of such a notice to correct any deficiency in the records specified by the City in such notice, or if a period longer than thirty (30) days is reasonably necessary to correct the deficiency, then the Affordable Developer shall begin to correct the deficiency within thirty (30) days and correct the deficiency as soon as possible. Section 3.4 Records. Affordable Developer shall maintain complete, accurate and current records, books and accounts pertaining to Affordable Development, and shall permit any duly authorized representative of the City to inspect records, including but not limited to records pertaining to income and household size of Residents of Affordable Units. All Resident lists, applications and waiting lists relating to the Affordable Units shall at all times be kept separate and identifiable from any other business of Affordable Developer and shall be maintained as ATTY/AGR/2024.193.1— AFFORDABLE HOUSING LAND DONATION AGREEMENT— EXHIBIT G — RESTRICTIVE COVENANTS AGR REV: 10-22-24 VR Page 12 of 41