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as set forth in Exhibit "B", from each lower-income household, <br />dated immediately prior to the initial occupancy and within <br />thirty (30) days of the Anniversary Date, as described in Section <br />7 herein, will be obtained and maintained on file by the Developer. <br />b. Other Records. The Developer shall maintain <br />complete and accurate records pertaining to the units required <br />herein to be occupied and/or reserved for lower-income households <br />and leased. The Developer shall permit any duly authorized <br />representative of the City to inspect the books and records of <br />the Developer as is necessary to determine compliance with this <br />Agreement. <br />7. Annual Report. <br />Each year, within thirty (30) days after each anniversary <br />of the Completion Date of the Project ("Anniversary Date"), the <br />Developer shall submit to the City an Annual Report. The Annual <br />Report shall be verified under penalty of perjury and shall <br />contain the following: <br />a. The current number of occupied and reserved dwelling <br />units available to lower-income households and a statement that <br />twenty-five percent (25%) of the units in the Project have been <br />continuously designated as units for occupancy by lower-income <br />households during the preceding year. <br />b. The current rents of units occupied by and offered <br />for occupancy to lower-income households and a statement that <br />rent levels in all units designated for lower income households <br />did not exceed the rent levels authorized by Section 3 of this <br />Agreement during the preceding year. <br />` -6- <br />