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Income ("Affordable Units"). Three of the Affordable Units shall be Home-Assisted Units <br />pursuant to Section 2(b) above. A dwelling unit shall qualify as “Rent-Restricted” if the gross <br />rent charged for such unit does not exceed the Qualifying Rent as adjusted for assumed <br />household size in accordance with the applicable provisions of the federal HOME Program <br />restrictions, and TCAC guidelines, as applicable. <br />2.3 Rents for Restricted Units. Rents for Restricted Units shall be limited to <br />Qualifying Rents. Notwithstanding the foregoing, no tenant qualifying for a Restricted Unit <br />shall be denied continued occupancy of a unit in the Project because, after admission, such <br />tenant's adjusted income increases to exceed the qualifying limit for such Restricted Unit. A <br />household which at initial occupancy qualifies as Very Low-Income shall be treated as <br />continuing to be of Very Low-Income. In the Event that TCAC no longer publishes income and <br />rent limits for 50% Income Households, the City shall calculate the qualifying rents and income <br />limits in a manner that is reasonably similar to the method used by TCAC. <br />2.4 Unit Sizes and Design. The Restricted Units shall consist of 32 one-bedroom <br />units and 8 two-bedroom units for Very Low-Income households. <br />2.5 Manager’s Unit. One dwelling unit in the Project may be used as a resident <br />manager’s unit, and shall be exempt from the occupancy and rent restrictions set forth in this <br />Agreement. <br />2.6 No Condominium Conversion. Owner shall not convert the Project to condominium <br />or cooperative ownership or sell condominium or cooperative rights to the Project during the term <br />of this Agreement. <br />2.7 HOME Restrictions. Owner shall comply will all applicable HOME Restrictions <br />as they pertain to the HOME-Assisted Units, as amended and in effect from time to time, of <br />whatever nature. Owner agrees to enter into any modification of this Agreement and/or the Loan <br />Agreement reasonably required by the City to attain compliance with the HOME Restrictions. <br />Developer acknowledges and agrees that it has reviewed the HOME Restrictions in effect as of <br />the execution of this Agreement. From and after the date that is 20 years from the Project <br />Certificate of Occupancy, (a) all HOME Assisted Units shall be considered only Affordable <br />Units and not Home Assisted Units and (b) any and all requirements pertaining to or arising from <br />the HOME funds shall terminate and expire (excepting any record retention requirements). <br />2.8 Non-Discrimination; Compliance with Fair Housing Laws. <br />(a) Fair Housing. Owner shall comply with state and federal fair housing <br />laws in the marketing and rental of the units in the Project. Owner shall accept as tenants, on the <br />same basis as all other prospective tenants, persons who are recipients of federal certificates or <br />vouchers for rent subsidies pursuant to the existing Section 8 program or any successor thereto. <br />(b) Non-Discrimination. Owner covenants for itself and all persons claiming <br />under or through it, and this Agreement is made and accepted upon and subject to the condition <br />that there shall be no discrimination against or segregation of any person or group of persons on <br />account of any basis listed in subdivision (a) or (d) of Section 12955 of the Government Code, as <br />those bases are defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of <br />144\259\1892895.4 4