HopeWorks Station Residential 5/1/2018

IV. HOME-ASSISTED UNITS Commencing on the Completion Date and thereafter for the remaining term of the HOME Compliance Period, the Agency shall operate and manage the Units for occupancy by Low- Income households as provided above. As provided in SECTION III of the Loan Agreement, units are to be designated "Low HOME, Floating HOME-Assisted Units", including Two (2) studio and Two (2) one-bedroom units. The HOME-Assisted Units shall be rented only to households whose income at the time of initial occupancy includes: Two (2) units shall be occupied by households with incomes not exceeding 30% of Area Median Income ("AMI"), and Two (2) units shall be occupied by households with incomes not exceeding 50% of Area Median Income, for the Seattle- Bellevue, WA HUD Metro FMR ("Fair Market Rents") area. HOME ASSISTED UNITS TYPE OF HOME UNITS Studio BRR BR BR BR BR Beds Units Fixed Floating 2 2 4 %of Median Income 30% 2 2 50% 2 2 60% 80% Other TOTALS 2 2 4 Prior to initial Project occupancy, the Agency shall designate and identify to the City four (4) units as "floating" HOME-Assisted Units pursuant to 24 CFR § 92.252(j). If and as necessary to accommodate tenant applicants' and occupants' circumstances and changes in post- occupancy income, the Agency may from time to time re-designate units as HOME-Assisted Units, subject to the comparability requirements of 24 CFR § 92.252(j). The Agency shall maintain continuous accounting and documentation for all such changes. V. CITY-ASSISTED UNITS Upon completion of the Project and thereafter for the remaining term of the City Compliance Period as specified in the Loan Agreement, the Agency shall operate and manage the City- Assisted Units for occupancy by Low-Income households. As provided in SECTION III of the Loan Agreement, the initial Sixty-one (61) "City-Assisted Units", shall include Twenty-six (26) studio units, Twenty-five (25) one-bedroom units, and Ten (10) two-bedroom units. Exhibit A Housing Hope Properties Page 3 of 7