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EXHIBIT 2 <br /> by City's issuance of all required permits for occupancy of the Unit, the date specified by City's <br /> issuance of all recliured permits for occupancy of the Unit shall control, <br /> 3.3 AffordabiIily.Leyels/Unit Mix. <br /> 3.3,1 Manger's Unit. The Project may have one (1) Unrestricted <br /> Unit that is a one-•hedraom unit for the manager and which is not subject to the <br /> requirements for an Affordable Unit referenced herein. <br /> 3.3.2 Affordable „Units. The Project, for purposes of this <br /> Agreement,shall provide ten(10)Affordable Units, Owner shall provide eight(8) <br /> Affordable Units for occupancy by Qualified Homeless Youth, and two (2) <br /> Affordable Units for Qualified Seniors, as follows: <br /> No.of No.of Units Occupancy Affordability <br /> Bedrooms (incomes/Rents) <br /> Qualified Homeless <br /> Youth 3090 AMI /30l AMI { <br /> 2 MTSP Rent <br /> 3 2 Qualified Seniors 50%AM1/50%AMI <br /> MTSP Rent <br /> _ 3 <br /> 3.3.3 Shared HousinX. The Affordable Units for Qualified Seniors � <br /> shall be operated as shared housing, and each bedroom shall be rented as individual 1 <br /> units to Qualified Seniors of the same household. The remainder of each <br /> Affordable Unit shall be shared by the residents, <br /> 3.3.4 Al'ordable Rent. Owner covenants that the Affordable Units <br /> shall at all times during the Total Affordability Term be rented to, or held vacant <br /> and available for immediate occupancy by an Eligible Household at an Affordable <br /> Rent.The Affordable Rent shall comply with the followhig. <br /> 3.3.5 For the eight (8) Affordable Units restricted for Qualified <br /> Homeless Youth,the Affordable Rent for each Eligible Household shall not exceed <br /> the thirty percent (30%) of area median income (AMI) rent limit as published by <br /> HCD for the Multifamily Tax Subsidy Program ("Affordable Homeless Youth <br /> Rent). <br /> 3.3.6 For the two (2) Affordable Units restricted for Qualified <br /> Seniors and operated as Shared fl:ousing units as described in Section 3.3.3, the <br /> total Affordable Rent for the Affordable Unit shall not exceed the fifty percent <br /> (50%) AMI rent limits as published by HCD for the Multifamily Tax Subsidy <br /> Program. The rent for each individual bedroom rented out as a single unit to <br /> Qualified Seniors of the same household shall not exceed the lesser of("Affordable <br /> Senior Rent"): <br /> i <br /> City Council 16 — 60 5/19/2026 <br />