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rental units in the Project which are not made available to lower <br /> income households. <br /> <br /> b. Lower income households shall have equal access to, <br /> and enjoyment of, all common facilities of the Project. <br /> <br /> 3. Maximum Rent for Units Occupied by Lower Income <br /> Households. <br /> <br /> One bedroom units occupied, or reserved for occupancy, <br /> by lower income house holds shall be rented, or offered for rent, <br /> at a monthly rental which does not exceed thirty percent (30%) <br /> multiplied by eighty percent (80%) of one-twelfth (1/12th) of the <br /> Tri-Valley Median Income as reasonably determined by the Planning <br /> Director on an annual basis for a household of two (2) persons. <br /> <br /> The two bedroom units occupied, or reserved for <br /> occupancy, by lower income households shall be rented, or offered <br /> for rent, at a monthly rental which does not exceed thirty <br /> percent (30%) multiplied by eighty percent (80%) of one-twelfth <br /> (1/12th) of the Tri-Valley Median Income as reasonably determined <br /> by the Planning Director on an annual basis for a household of <br /> four (4) persons. <br /> <br /> a. Increases in rents charged or offered to lower <br /> income households shall increase no more frequently than <br /> annually. <br /> <br /> b. In the event that the Planning Director, after <br /> reasonable requests, fails to issue revised median family income <br /> statistics for the Tri-Valley Median Income for a family of two <br /> or four within fifteen (15) months of the previous revision, <br /> rents for units referred to in Section l(a) may be adjusted based <br /> on the annual percentage increase in the San Francisco-Oakland <br /> Consumer Price Index for urban wage earners and clerical workers. <br /> <br /> c. Notification to the City of annual rent increases <br /> shall be provided by the Developer as part of the Annual Report <br /> (referred to in Section 6 herein). <br /> <br /> 4. Period of Compliance. <br /> <br /> a. The requirements of this Agreement shall apply for <br /> a period of ten (10) years after the "Completion Date" unless <br /> extended pursuant to Paragraph 8 of this Agreement. <br /> <br /> b. The Completion Date shall be determined by one of <br /> the following methods, and the Developer shall have the option of <br /> selecting which method to use: <br /> <br /> i. The date on which four hundred and fifty-six <br /> (456) units are completed and available for <br />- occupancy. <br /> <br /> - 3 - <br /> <br /> <br />