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<br />2. <br />3. <br />e. For any given reporting period, an average of no more than <br />fifteen percent (15$) of vacant units may be counted as reserved <br />for lower income households. <br />Location of Lower-Income Dwelling Units <br />Developer shall select, at his option, dwelling units from those located <br />in the Project for occupancy by lower-income households. <br />a. Dwelling units made available to lower-income households shall be <br />of comparable size and quality as other rental units in the <br />Project which are not made available to lower-income households . <br />b. Lower-income households shall have equal access to, and <br />enjoyment of, all common facilities of the Project. <br />Maximum Rent for Units Occupied by Lower-Income Households <br />a. For the first three (3) years following the Completion Date, one <br />bedroom units occupie d, or reserved for occupancy, by <br />lower-income households shall be rented, or offered for rent, at <br />a level which does not exceed thirty percent (30$) of <br />one-twelfth (1/12th) of the maximum yearly household income at <br />which a household of two (2) persons would qualify as a <br />"lower-income household" within the meaning of Section 1. a. 2) <br />above. The two bedroom units occupied, or reserved for <br />occupancy, by lower-income households shall be rented, or <br />offered for rent, at a lev el which does not exceed thirty <br />percent (30$) of one-twelfth (1/12th) of the maximum yearly <br />household income at which a household of four (4) persons would <br />qualify as a "lower-income household" within the meaning of <br />Section 1. a. 2) above. <br />b. For the remaining twelve (12) years of this Agreement, one <br />bedroom units occupie d, or reserved for occupancy, by <br />lower-income households shall be rented, or offered for rent, at <br />a level which does not exceed thirty percent (30$) of <br />one-twelfth (1/12th) of the maximum yearly household income at <br />which a household of two (2) persons would qualify as a <br />"lower-income household" within the meaning of Section 1 . a. 1) <br />above. The two bedroom units occupied, or reserved for <br />occupan cy, by lower-income households shall be rented, or <br />offered for rent, at a level which does n ot exceed thirty <br />percent (30$) of one-twelfth (1/12th) of the maximum yearly <br />household income at which a household of four (4) persons would <br />qualify as a "lower-income household" within the meaning of <br />Section 1. a. 1) above. <br />c. Rents charged or offered to lower-income households shall <br />increase no more frequently than annually. <br />