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requirements than those imposed hereby, the requirements of such other lenders, <br /> investors or regulatory agencies shall prevail. <br /> 2.2 Rents for Restricted Units. Rents for Restricted Units shall be limited to <br /> Affordable Rents for households of the applicable income limit in accordance with <br /> Section 2.1 and Exhibit B. A household which at initial occupancy qualifies as Very <br /> Low-Income or whose household income is less than or equal to ninety percent (90%) <br /> of AMI, shall be treated as continuing to be of such income category so long as the <br /> household's gross income does not exceed one hundred forty percent (140%) of the <br /> applicable income limit. In the event the gross household income of a household that <br /> qualified as Very Low-Income or whose household income is less than or equal to <br /> ninety percent (90%) of AMI at initial occupancy exceeds the applicable income limit for <br /> a unit, that unit will continue to be considered as satisfying the applicable income limit if <br /> the unit remains Rent-Restricted, subject to Section 2.2.1. <br /> 2.2.1 If upon recertification of tenant incomes, Owner determines that a <br /> Very Low Income tenant's household income has increased and exceeds the qualifying <br /> income for a Very Low Income Unit but does not exceed the maximum qualifying <br /> income for a ninety percent (90%) Unit, then, upon expiration of the tenant's lease: <br /> (i) Such tenant's unit shall be considered a ninety percent <br /> (90%) Unit; <br /> (ii) Upon sixty (60) days' written notice to the tenant, such <br /> tenant's rent may be increased to the lesser of (a) an Affordable Rent for a <br /> ninety percent (90%) Unit, (b) the maximum rent permitted pursuant to Health <br /> and Safety Code Section 50053(b), and (c) the fair market rent for the unit; and <br /> (iii) Owner shall rent the next available unit at an Affordable <br /> Rent to a household whose gross household income does not exceed Very Low <br /> Income. <br /> If upon recertification of tenant incomes, Owner determines that a Very <br /> Low Income or a ninety percent (90%) AMI tenant's household income has <br /> increased and exceeds the qualifying income for a ninety percent (90%) Unit, <br /> then, upon expiration of the tenant's lease: <br /> (i) Such tenant's unit shall be considered a ninety percent <br /> (90%) Unit; <br /> (ii) Upon sixty (60) days' written notice to the tenant, such <br /> tenant's rent may be increased to the lesser of: (a) thirty percent (30%) of the <br /> tenant's actual household income; and (b) the fair market rent for the unit; and <br /> 144\221\1339451 5 <br /> Page 5 <br />