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(f) If the Development comprises fewer than five (5) dwelling units, neither the Borrower nor the City, as applicable, shall occupy any dwelling unit in the Development. (g) All of the amounts advanced for the Development from the proceeds of the Loan shall be used to provide amounts paid or incurred on or after May 14, 1987 [date of the Bond resolution or Development inducement resolution] which are chargeable to the residential rental portion of the Development's capital account or would be so chargeable either with a proper election by the Borrower (for example under Section 266 of the Code) or but for a proper election by the Borrower to deduct such amounts. (h) On the basis of the cost and economic life of each asset of the Development (under midpoint lives under the ADR System or guideline lives under Treasury Revenue Procedure 62 -21, 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 and the City, as applicable, shall expend Loan proceeds for eligible costs in such amount as may be necessary to comply with the preceding sentence. (j) The Borrower or the City, as applicable, 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 "). 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 CHFA 53SLP.RIDGE.VIEW 12/14/89 Q02189 -5-