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3.5 Management Plan: A. Management Plan. Prior to issuance of a Certificate of Occupancy, Developer shall submit for the reasonable approval of the Agency a "Management Plan" that sets forth in detail Developer's property management duties, a tenant selection process in accordance with this Agreement, a security system and crime prevention program, the procedures for the collection of rent, the procedures for eviction of tenants, the rules and regulations for the Property and manner of enforcement, a standard lease form, an operating budget, the identity and emergency contact information of the professional property management company to be contracted with to provide onsite property management services at the Property, and other matters relevant to the management of the Property, including, but not limited to, the following: (1) Management Agent. Developer shall submit the name and qualifications of the proposed Management Agent. The City Project Manager shall approve or disapprove the proposed Management Agent in writing based on the experience and qualifications of the Management Agent. (2) Management Agreement. Developer shall submit a copy of the proposed management agreement specifying the amount of the management fee, and the relationship and division of responsibilities between Developer and Management Agent. (3) Annual Budget and Projected Cash Flows. Prior to the issuance of a certificate of occupancy for the Project, and annually thereafter not later than one hundred fifty (150) days after the close of each Calendar Year thereafter, Developer shall submit an updated operating budget and cash flow to the,City.Project Manager. The budget and cash flow shall be in a form that is reasonably acceptable to the City Project Manager. (4) Tenant Selection Policies. Developer shall adopt and include as part of its Management Plan, written tenant selection policies and criteria for the Restricted Units that meet the following requirements: (a) Are consistent with the purpose of providing housing for Extremely -Low, Very -Low and Low Income households; (b) Are reasonably related to program eligibility and the applicants' ability to perform the obligations of the lease; (c) Provide for: (i) the selection of tenants from a written waiting list in the chronological order of their application, insofar as is practicable; and, 10 80A-150