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as the case may be), the weighted average estimated economic life of the Development exceeds the maturity of the Loan. (i) No more than twenty -four and nine - tenths percent (24.9 %) of the proceeds of any Loan may be used (directly or indirectly) for the acquisition of land (or an interest therein). The Borrower shall expend Loan proceeds for eligible costs in such amount as may be necessary to comply with the preceding sentence. (j) The Borrower shall submit to the Secretary of the Treasury (at such time and in such manner as the Secretary shall prescribe) an annual certification as to whether the Development continues to meet the requirements of Section 142(d) of the Code. 4. Tenant Income Limitations. (a) For the Qualified Project Period, at least one hundred ninety -eight (198) of the completed dwelling units in the Development shall be occupied or reserved for occupancy on a continuous basis by individuals or families who constitute lower income households within the meaning of Section 51335 of the Law; provided, however, that at least forty (40) of the completed dwelling units in the Development shall be occupied or reserved for occupancy on a continuous basis by individuals or families whose income does not exceed fifty percent (50 %) of area median income, as adjusted for family size pursuant to Section 142(d) of the Code, and who constitute very low- income households within the meaning of Section 51335 of the Law (collectively, "Qualified Tenants "). At least forty (40) of the completed dwelling units in the Development shall be occupied or reserved for occupancy on a continuous basis by individuals or families whose income does not exceed fifty -five percent (55 %) of area median income, as adjusted for family size pursuant to Section 142(d) of the Code. Units so occupied shall be rented at rents (including an allowance for utilities) not greater than the applicable rental limits established by the Agency which shall in no event exceed the maximum rental limits established in Section 51335 of the Law. The Agency shall from time to time make available to the Borrower schedules of and any changes in the dollar amounts of the rent and income limitations contained in this Section 4. For purposes of this Section 4(a), but subject to the provisions of the following paragraph, a dwelling unit occupied by an individual or family who at the commencement of the occupancy qualifies as a Qualified Tenant is treated as occupied by a Qualified Tenant, even if such individual or family during their tenancy in such unit ceases to so qualify. Moreover, if vacated, such unit is treated as occupied by a Qualified Tenant until reoccupied, other than for a temporary period, at which time the character of the unit shall be redetermined. In no event shall such temporary period exceed thirty -one (31) days. No resident of a dwelling unit in the Development shall be denied continued occupancy because, after admission, the resident's family income increases (or family size decreases) so as to cause the family income to exceed the maximum income level for a Qualified Tenant. However, if a resident's family income increases (or family size decreases) so as to cause the family CHFA 53SLP /RIDGEVIEW 12/2/88 V01517(DNB) -5--