RecDoc2025-040037 Regulatory Agreement and Declaration of Restrictive Covenants 112 Vera Avenue

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Unit Size Very Low- Income Units (50% AMI) Low Income Units (80% AMI) Moderate Income (120% AMI) Total Studio 4 20 1 25 One Bedroom 5 132 14 151 Total Units 9 152 15 176 The Affordable Units shall be of similar quality both in the exterior and interior as the other Units in the Development and shall have the same amenities and finishes as the other Units. Residents of the Affordable Units shall have access to all amenities as the occupants of the Units in the Development. (e) Manager's Unit. Two (2) Units in the Development shall be available for designation as the managers' units and shall not be restricted as Affordable Units. (f) Princi al Residence. Any Resident that occupies an Affordable Unit must occupy that Unit as his or her principal residence. (g) Api2roval of Residents. The Owner shall complete the required income certification in connection with an Affordable Unit in accordance with the Management Plan. 2.2 Allowable Rent. (a) Very Low -Income Rent. Subject to Section 2.3 below, the Rent charged to the Residents of the Very Low -Income Units shall not exceed one -twelfth (1/12th) of thirty percent (30%) of fifty percent (50%) of Median Income, adjusted for Assumed Household Size. (b) Low Income Rent. Subject to Section 2.3 below, the Rent charged to Residents of the Low -Income Units shall not exceed one -twelfth (1/12th) of thirty percent (30%) of sixty percent (60%) of Median Income, adjusted for Assumed Household Size, provided, however, the Owner may charge Rent that does not exceed the maximum rent levels for lower income households as those rents are determined by the California Tax Credit Allocation Committee ("CTCAC") on no more than eighty percent (80%) of the Low -Income Units at any point in time. (c) Moderate Income Rent. Subject to Section 2.3 below, the Rent charged to Residents of the Moderate -Income Units shall not exceed one -twelfth (1/12th) of thirty percent (30%) of one hundred ten percent (110%) of Median Income, adjusted for Assumed Household Size. (d) No Additional Fees. The Owner shall not charge any fee (other than reasonable late fees and fees for use of pay -for -use laundry facilities), other than the Rent, to any Resident for any housing or other services provided by the Owner. REV: 04-03-25 LF ATTY/AGR.2025.060/112 Vera Ave., L.P. (REGULATORY AGREEMENT & RESTRICTIVE COVENANTS) (Page 6 of 22)