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4918-5821-5178.6 011249.016 <br />CalHFA Standstill Agreement (Density Bonus – Locality) <br />______________– CalHFA No. ______________ <br />12/05/2024.OGC.ogc.HFMF-478357159-19 <br />REV: 05-28-25 LF <br />CalHFA, shall order such repairs as CalHFA determines may be necessary to protect the <br />public interest or the health, safety, or welfare of occupants of the Development. CalHFA <br />shall comply with its regulatory agreements recorded against the Development and <br />applicable laws. <br /> <br />(i) During the Standstill Term, for units subject to the Affordability Limitations, <br />CalHFA shall require that the income of each tenant and prospective tenant and rent <br />charged to such a tenant do not exceed those authorized under the Affordability <br />Limitations. Each household whose income qualifies pursuant to the Affordability <br />Limitations shall be referred to herein as an “Eligible Household”. <br /> <br />(j) During the Standstill Term, upon request by the Locality, CalHFA shall promptly <br />provide Locality with an annual occupancy and rent summary report (the “Occupancy <br />Summary Report”) (using income and rent limitations not to exceed those required under <br />the Density Bonus Agreement) showing the income, rent, and size of each unit restricted <br />pursuant to the Affordability Limitations (which are all units of the Development restricted <br />by the Density Bonus Agreement excluding two managers’ units) (the “Restricted Units”) <br />and any other additional information reasonably requested by Locality in order for Locality <br />to comply with applicable law and reporting requirements. <br /> <br />(k) If tenant selection for units that are subject to the Affordability Limitations is <br />accomplished by using a random selection lottery placing tenants on an income-qualified <br />tenant waiting list, then notwithstanding anything in this Agreement to the contrary, during <br />the Standstill Term, CalHFA shall implement such tenant selection plan with the assistance <br />of Locality staff including using any income-qualified tenant waiting list provided by <br />Locality to CalHFA. <br /> <br />(l) Notwithstanding anything in this Agreement to the contrary, upon request by the <br />Locality, CalHFA shall promptly provide Locality a fully executed copy of the lease <br />agreement for each Restricted Unit. <br /> <br />2. Representations. <br /> <br />(a) Locality hereby represents and warrants to CalHFA that at the time of execution of <br />this Agreement, to the best of Locality’s knowledge, the Borrower is in substantial <br />compliance with its obligations to the Locality under the terms of the Density Bonus <br />Agreement. <br /> <br />(b) Locality and Borrower further represent and warrant to CalHFA that, <br />notwithstanding any provisions contained in the Density Bonus Agreement, the restrictions <br />and covenants thereunder are not intended by the parties thereto to either create a lien upon <br />the Development, or grant any right of foreclosure, under the laws of the jurisdiction where <br />the Development is located, to any party thereto or third party beneficiary thereof upon a <br />default of any provision therein, rather they are intended by the parties thereto to constitute <br />ATTY/AGR.2025.127/California Housing Finance Agency (CalHFA) (Page 6 of 11) <br />6.K. - Page 10 of 15 <br />92