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duties, a tenant selection process and crime prevention program, the procedures for the collection of rent, the procedures for eviction of tenants, the rules and regulations of such Phase of the Rental Portion of the Project and manner of enforcement, a standard lease form, an Operating Budget, the identity of the manager of such Phase of the Rental Portion of the Project (the "Property Manager), and other matters relevant to the management of the Rental Portion of the Project. The management of each Phase of the Rental Portion of the Project shall be in compliance with the Management Plan which is approved by the Agency. The Agency hereby approves Related ated Man ag m n t Company, L.P. as the Property Manager for each Phase of the Rental Portion. If the Agency determines that the performance o f the Property Manager as to a particular Phase is deficient based upon the standards set forth in the Management Plan and in this Agreement, the Agency s h all provide notice to the Developer of such deficiencies, and the Developer hall use its best efforts to correct such deficiencies. In the event that such deficiencies h av a not been cured within the time set forth in Section 5017 the Agency shall have the right to require the Developer to immediately remove and replace the Property Manager for such Phase with another property manager or property management ompan which h i reasonably acceptable to the Agency, which is not related to or affiliated with the Developer, and which has not less than five years experience in property management, including significant experience managing housing facilities of the size, qu alit and scope of the applicable Phase of the Rental Portion of the Project. 401 -10 Monit grin g and Re coNrd a pi rig. Throughout the Afford ahi I i ty Period, Developer shall comply with all applicable recordkeeping and monitoring requirements set forth in Health and Safety Code Section 33418 and shall annually complete and submit to the Agency a report, prior to January 30th of each year, for each Phase of the Rental Portion which includes the name, address, income and age of each occupant, of a Rental Unit, the bedroom count and Mo nthly lent for su ch Rental Uni t. The Agency ag re es th at the D eve lop er rn a y s uh rnit repo rting forms prepared and submitted in connection with any other similar reporting requirement, including reports prepared for tax credit compliance, to the extent those forms contain the information required hereunder. Representatives of the Agency shall he entitled to enter each Phase of the Rental Portion of the Project, upon at least seventy-two 7 hours prior written notice, to monitor compliance with this Agreement, to inspect the records, and to conduct an independent audit or inspection of such records. The Developer agrees to cooperate with the Agency in making each Phase of the Rental Portion of the Project available for such inspection or audit. The Developer agrees to maintain records in a businesslike manner, and to maintain such records for the team of this Agreement. 401.11 Regulatory Agreement and Notice of Affordability Restrictions. The requirements of this Agreement which are applicable to the Rental Portion of the Project after the conveyance of the Site to the Developer are set forth in each Regulatory Agreement. Additionally, the Developer sh all record a Notice of Affordability Restrictions on Transfer of Property ("Notice of Affordability Re s tric tions" as to each Phase of the Rental Portion of the Project in the form attached hereto as Attachment 12 and incorporated herein by this reference, which sha I l run with the,1 and and shall br, enforceable against any owner who violates a covenant or restriction and each successor in interest who continues the violation pursuant thereto. The execution of a Regulatory Agreement and the Developer's execution of a Notice of Affordability DO O 1400673 v 14/200 272-000