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with five or more HOME -assisted units must also comply with affirmative marketing and minority outreach standards enumerated at HOME regulation 24 CFR 92.351. 14. Monitoring. In accordance with the Agreement provision pertaining to Retention of Records, during the Compliance Period described in this Exhibit, City may undertake monitoring of Contractor's records and premises for program compliance. As applicable, Contractor shall keep and maintain income records of all tenants who rent any HOME -assisted units for the entire period of affordability term. Notwithstanding the aforementioned, Contractor shall maintain all required records for a period of five (5) years after the end of the Compliance Period. Contractor shall be given adequate notice of any monitoring. City may review documents relevant to the financial condition of Projects to ensure long-term viability. City will conduct a monitoring review of Project annually according to HUD requirements for affordability and other standards. Monitoring visits will consist of the following: (1) On -site inspections of selected units/common areas and resident files. All units and files need to be accessible during the monitoring visit for random sampling. (2) Verification of Contractor -completed Tenant Profile form, as applicable, required by HUD, containing demographic information such as race/ethnicity, and income verification. If a resident refuses to provide race/ethnicity, Contractor may make a visual observation and note in the application that the resident declined to answer. Income verifications should be completed on an annual basis. 15. Contract Number. All correspondence, invoices, payments, and reports must include the County contract number. 16. Rents and Occupancy. Project financing is anticipated to include proceeds from low-income tax credits. As such, the Project rents and occupancy will be restricted by this funding source to low income occupancy with affordable rents. Notwithstanding that HOME -assisted unit rents and occupancy will be subject to HOME affordability requirements as referenced above, financing provided under this Agreement is not intended to make the rents and occupancy more restrictive than those required by tax credits or other affordable housing finance sources. Compliance with these other requirements will constitute substantial compliance with County requirements. Prior to marketing in accordance with Section 15 above, and prior to the initial Project leasing period, Contractor shall submit for City review and approval, the Project's initial rent schedule and utility allowances. For HOME -assisted units, Contractor shall certify each tenant's income in accordance with HOME regulation 24 CFR Section 92.203(a)(1)(i). Contractor shall re -certify each tenant's income in accordance with 24 CFR Section 92.252(h). For tax credit projects, City shall defer to income certification requirements imposed by tax credits. Otherwise Contractor shall rely on income determination calculations set forth in 24 CFR Part 5 (i.e., the Section 8 Voucher Program). Contractor shall not refuse to lease HOME -assisted units to a certificate or voucher holder pursuant to 24 CFR Part 982 (Section 92.252(d)). A-7 191\52\1543377.4