Agmt 2009 Alameda Housing Associates LP

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Notwithstanding anything to the contrary contained in this Agreement, if other lenders, investors or regulatory agencies restrict a greater number of units than restricted by this Agreement or require stricter household eligibility or affordability requirements than those imposed hereby, the requirements of such other lenders, investors or regulatory agencies shall prevail. 2.2 Rents for Restricted Units. Rents for Restricted Units shall be limited to Affordable Rents for households of the applicable income limit in accordance with Section 2.1 and Exhibit B. A household which at initial occupancy qualifies as Very Low-Income or whose household income is less than or equal to 90% of AMI, shall be treated as continuing to be of such income category so long as the household's gross income does not exceed 140% of the applicable income limit. In the event the gross household income of a household that qualified as Very Low-Income or whose household income is less than or equal to 90% of AMI at initial occupancy exceeds the applicable income limit for a unit, that unit will continue to be considered as satisfying the applicable income limit if the unit remains Rent-Restricted, subject to Section 2.2.1. 2.2.1 If upon recertification of tenant incomes, Owner determines that a Very Low Income tenant's household income has increased and exceeds the qualifying income for a Very Low income Unit but does not exceed the maximum qualifying income fora 90% Unit, then, upon expiration of the tenant's lease: (i) Such tenant's unit shall be considered a 90% Unit; (ii) Upon sixty (60) days' written notice to the tenant, such tenant's rent may be increased to the lesser of (a) an Affordable Rent fora 90% Unit, (b) the maximum rent permitted pursuant to Health and Safety Code Section 50053(b), and (c) the fair market rent for the unit; and (iii) Owner shall rent the next available unit at an Affordable Rent to a household whose gross household income does not exceed Very Low Income. If upon recertification of tenant incomes, Owner determines that a Very Low Income or a 90% AMI tenant's household income has increased and exceeds the qualifying income fora 90% Unit, then, upon expiration of the tenant's lease: (i) Such tenant's unit shall be considered a 90% Unit; (ii) Upon sixty (60) days' written notice to the tenant, such tenant's rent may be increased to the lesser of: (a) thirty percent (30%) of the tenant's actual household income; and (b) the fair market rent for the unit; and