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updated Area Median Income and/or Tenant's Household Income or <br />Actual Household Size. Owner shall provide Tenants of Restricted Units <br />with sixty (60) days' notice in advance of the effective date for all Rent <br />increase. <br />2.3 Increased Income of Occupying Households. <br />2.3.1 Non -Qualifying Household. If, upon recertification of a Tenant's income, <br />the Owner determines that a Tenant has an Adjusted Income exceeding the <br />qualifying income for an Eligible Household, adjusted for Actual <br />Household Size, such Tenant shall be permitted to continue to occupy the <br />Unit at a Rent not exceeding one -twelfth of thirty percent (30%) of One <br />Hundred Forty Percent (140%) of Area Median Income, and the Unit shall <br />continue to be classified as a Restricted Unit until the Tenant vacates the <br />Unit, at which time the Unit shall be re -rented to an Eligible Household as <br />necessary to meet the requirements of Section 2.1 above. Notwithstanding <br />the above, if the Owner determines that a Tenant has an Adjusted Income <br />exceeding One Hundred Forty Percent (140%) of Area Median Income, <br />then the Owner shall give the Tenant one year's notice to vacate the Unit. <br />If within that year, another Unit of comparable size is vacated, the Owner, <br />at the Owner's option, may allow the Tenant to remain in the original unit <br />and raise the Tenant's rent to market -rate and designate the newly vacated <br />unit as a Restricted Unit to be rented o an Eligible Household as necessary <br />to meet the requirements of 2.1 above. If Tenant declines Owner's offer to <br />remain in the Unit at market -rate, the Tenant shall vacate the Unit at the <br />end of the one year period, at which time the Owner shall rent the Unit as <br />a Restricted Unit to an Eligible Household as necessary to meet the <br />requirements of 2.1 above <br />2.3.2 Continued Compliance. In the event an occupant household's income <br />increases and the rent is increased as set forth in Sections 2.3.1 above, the <br />Restricted Unit shall continue to be classified as a Restricted Unit, as <br />applicable, until such time as the Unit is either vacated by the occupant or <br />another Unit is rented at the applicable income limit. <br />2.4 Unit Sizes, Preferences. <br />2.4.1 The Restricted Units shall be the following sizes: <br />Studio <br />2 Units <br />1-Bedroom <br />5 Units <br />2-Bedroom <br />3 Units <br />Affordable Housing Regulatory Agreement — Centro Callan <br />November 28, 2022 <br />