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• 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. Notwithstanding the foregoing, no tenant qualifying for a Restricted Unit shall be denied continued occupancy of a unit in the Project because, after admission, such tenant's adjusted income increases to exceed the qualifying limit for such Restricted Unit. If upon recertification of tenant incomes, Owner determines that a tenant has a household income exceeding the maximum qualifying income for such tenant's unit, the tenant shall be permitted to continue to occupy the unit, and upon expiration of the tenant's lease and upon sixty (60) days' written notice, Owner may increase the rent for such unit to the lesser of one - twelfth of thirty percent (30 %) of the tenant's actual household income or the fair market rent, and Owner shall rent the next available unit to a tenant whose household income does not exceed the applicable income limit in order to achieve the affordability requirements of this Agreement. In the event of inconsistency between the provisions of this Section 2.2 and the rules applicable to the Project in connection with the use of low- income housing tax credits or financing provided by HUD, the rules applicable pursuant to such financing source shall prevail. 2.3 Notice of Affordability Restrictions on Transfer of Property. Pursuant to the requirements of CRL, Owner and Agency shall execute a Notice of Affordability Restrictions on Transfer of Property substantially in the form attached hereto as Exhibit C, and shall cause such notice to be recorded substantially concurrently with the recordation of this Agreement. 2.4 Unit Sizes, Design and Location. The Restricted Units shall consist of one - bedroom and /or two- bedroom units. The Restricted Units shall be of comparable design quality as unrestricted units in the Project, but may have reduced interior amenities. Tenants of Restricted Units shall have access to all common facilities of the Project equal to that of tenants of units in the Project that are not Restricted Units. 2.5 Intentionally omitted. 2.6 No Condominium Conversion. Owner shall not convert the residential units in the Project to condominium or cooperative ownership or sell condominium or cooperative rights to the residential portion of the Project or any part thereof during the term of this Agreement. 2.7 Non - Discrimination; Compliance with Fair Housing Laws. 2.7.1 Fair Housing. Owner shall comply with state and federal fair housing laws in the marketing and rental of the units in the Project. Owner shall accept as tenants, 1582117.4 5