Common use of Affordable Rent Clause in Contracts

Affordable Rent. The maximum Monthly Rent chargeable to income eligible households shall be annually determined by the City and Authority in accordance with the HOME Program requirements and California Housing and Community Development (HCD) requirements. The maximum rent that the Developer may change any household occupying an affordable unit shall meet the following requirements: a. The Monthly Rent payable by a tenant who meets the qualifying income limits for extremely-low income households shall not exceed the lesser of: a.) Low HOME Rents at 50% of the area median income as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the extremely-low income rents set forth in Health & Safety Code Section 50053 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. b. The Monthly Rent payable by a tenant who meets the income limits for lower income households shall not exceed the lesser of: a.) High HOME Rents at the lesser of the Section 8 Fair Market Rents, or 65% of area median income, as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the lower income rents set forth in Health & Safety Code Section 50053 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. c. Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits set forth above, the Monthly Rent charged by Developer shall not exceed thirty percent (30%) of the tenant's adjusted income. d. For purposes of this Agreement, “Monthly Rent” means the total of monthly payments for (a) use and occupancy of the Property and land and required facilities associated therewith (including parking), (b) any separately charged fees or service charges assessed by the Developer which are required of all tenants, other than security deposits, (c) a reasonable allowance for an adequate level of service of utilities not included in (a) or (b) above, including garbage collection, sewer, water, electricity, gas and other heating, cooking and refrigeration fuels, but not including telephone service, and (d) possessory interest, taxes or other fees or charges assessed for use of the land and facilities associated therewith by a public or private entity other than Developer.

Affordable Rent. The maximum Monthly Rent chargeable to income eligible households shall be annually determined by the City and Authority in accordance with the lesser of: HOME Program requirements and California Housing and Community Development (HCD) requirementsor, Health & Safety Code Section 50053. The maximum rent that the Developer may change any household occupying an affordable unit shall meet the following requirements: a. The Monthly Rent payable by a tenant who meets the qualifying income limits for extremely-very- low income households shall not exceed the lesser of: : a.) Low HOME Rents at 50% of the area median income rents as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the extremelyvery-low income rents set forth in Health & Safety Code Section 50053 and Section 50105 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. b. The Monthly Rent payable by a tenant who meets the income limits for lower income households shall not exceed the lesser of: a.) High HOME Rents at the lesser of the Section 8 Fair Market Rents, or 65% of area median income, rents as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the lower income rents set forth in Health & Safety Code Section 50053 and Section 50079.5 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. c. Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits as set forth above, the Monthly Rent charged by Developer shall not exceed thirty percent (30%) of the tenant's adjusted income. d. For purposes of this Agreement, “Monthly Rent” means the total of monthly payments for (a) use and occupancy of the Property and land and required facilities associated therewith (including parkingparking fees), (b) any separately charged fees or service charges assessed by the Developer which are required of all tenants, other than security deposits, (c) a reasonable allowance for an adequate level of service of utilities not included in (a) or (b) above, including garbage collection, sewer, water, electricity, gas and other heating, cooking and refrigeration fuels, but not including telephone service, and (d) possessory interest, taxes or other fees or charges assessed for use of the land and facilities associated therewith by a public or private entity other than Developer.

Affordable Rent. The maximum Monthly Rent chargeable to income eligible households for the Affordable Units shall be annually determined by the City and Authority Agency in accordance with the HOME Program requirements Community Redevelopment Law requirements, and California Housing and Community Development (HCD) requirements. The maximum rent that the Developer may change any household occupying an affordable unit shall meet the following requirements: a. The Monthly Rent payable by a the tenant who meets of the qualifying income limits Affordable Unit designated for extremely-low income households Extremely Low Households shall not exceed the lesser of: a.) Low HOME Rents at 50% of the area median income as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the extremely-low income rents set forth in California Health & Safety Code Section 50053 based on the methodology established 50053, as may be amended from time to time, as published annually by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the a reasonable monthly utility allowance. b. The Monthly Rent payable by a tenant who meets the income limits for lower income households shall not exceed the lesser of: a.) High HOME Rents at the lesser of the Section 8 Fair Market Rents, or 65% of area median income, as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the lower income rents set forth in Health & Safety Code Section 50053 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. c. . Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits for Extremely Low Income Households, adjusted for family size, the Monthly Rent charged by Developer must reflect the more stringent of (a) HOME program rents as determined by HUD, or (b) rents set forth abovein California Health & Safety Code Section 50053, adjusted for number of bedrooms in the unit. b. The Monthly Rent payable by the tenant of the Affordable Unit designated for Very Low Income Households shall not exceed rents set forth in California Health & Safety Code Section 50053, as may be amended from time to time, as published annually by the California Housing and Community Department (HCD), adjusted for number of bedrooms in the unit, less a reasonable monthly utility allowance. Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits for Very Low Income Households, adjusted for family size, the Monthly Rent charged by Developer must reflect the more stringent of (a) HOME program rents as determined by HUD, or (b) rents set forth in California Health & Safety Code Section 50053, adjusted for number of bedrooms in the unit. c. The Monthly Rent payable by each tenant of an Affordable Unit designated for Low Income Households shall not exceed the rents set forth in California Health & Safety Code Section 50053, as may be amended from time to time, as published annually by the California Housing and Community Department (HCD), adjusted for number of bedrooms in the unit, less a reasonable monthly utility allowance. Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits for Low Income Households, adjusted for family size, the Monthly Rent charged by Developer shall not exceed thirty percent (30%) of the tenant's adjusted income. d. The Monthly Rent payable to the tenant of the Affordable Unit designated for Moderate Income Households shall not exceed the lesser of (a) prevailing fair market value for comparable housing in the area, or (b) the Monthly Rent set forth in California Health & Safety Code Section 50053, as may be amended from time to time, as published annually by the California Housing and Community Department (HCD), adjusted for number of bedrooms in the unit, less a reasonable monthly utility allowance. Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits for Moderate Income Households, adjusted for family size, the Monthly Rent charged by Developer shall not exceed thirty percent (30%) of the tenant's adjusted income. e. For purposes of this Agreement, “Monthly Rent” means the total of monthly payments for (a) use and occupancy of the Property and land and required facilities associated therewith (including parking), (b) any separately charged fees or service charges assessed by the Developer which are required of all tenants, other than security deposits, (c) a reasonable allowance for an adequate level of service of utilities not included in (a) or (b) above, including garbage collection, sewer, water, electricity, gas and other heating, cooking and refrigeration fuels, but not including telephone service, and (d) possessory interest, taxes or other fees or charges assessed for use of the land and facilities associated therewith by a public or private entity other than Developer.

Affordable Rent. The maximum Monthly Rent chargeable to income eligible households shall be annually determined by the City and Authority in accordance with the lesser of: HOME Program requirements and California Housing and Community Development (HCD) requirementsor, Health & Safety Code Section 50053. The maximum rent that the Developer may change any household occupying an affordable unit shall meet the following requirements: a. The Monthly Rent payable by a tenant who meets the qualifying income limits for extremely-low income households shall not exceed the lesser of: a.) Low HOME Rents at 50% of the area median income rents as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the extremely-low income rents set forth in Health & Safety Code Section 50053 and Section 50106 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. b. The Monthly Rent payable by a tenant who meets the income limits for lower income households shall not exceed the lesser of: : a.) High HOME Rents at the lesser of the Section 8 Fair Market Rents, or 65% of area median income, rents as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the lower income rents set forth in Health & Safety Code Section 50053 and Section 50079.5 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. c. Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits as set forth above, the Monthly Rent charged by Developer shall not exceed thirty percent (30%) of the tenant's adjusted income. d. For purposes of this Agreement, “Monthly Rent” means the total of monthly payments for (a) use and occupancy of the Property and land and required facilities associated therewith (including parkingparking fees), (b) any separately charged fees or service charges assessed by the Developer which are required of all tenants, other than security deposits, (c) a reasonable allowance for an adequate level of service of utilities not included in (a) or (b) above, including garbage collection, sewer, water, electricity, gas and other heating, cooking and refrigeration fuels, but not including telephone service, and (d) possessory interest, taxes or other fees or charges assessed for use of the land and facilities associated therewith by a public or private entity other than Developer.

Affordable Rent. The maximum Monthly Rent chargeable to income eligible households shall be annually determined by the City and Authority in accordance with the lesser of: HOME Program requirements and California Housing and Community Development (HCD) requirementsor, Health & Safety Code Section 50053. The maximum rent that the Developer may change any household occupying an affordable unit shall meet the following requirements: a. The Monthly Rent payable by a tenant who meets the qualifying income limits for extremely-low income households shall not exceed the lesser of: : a.) Low HOME Rents at 50% of the area median income rents as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the extremely-low income rents set forth in Health & Safety Code Section 50053 and Section 50106 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. b. The Monthly Rent payable by a tenant who meets the income limits for lower income households shall not exceed the lesser of: a.) High HOME Rents at the lesser of the Section 8 Fair Market Rents, or 65% of area median income, rents as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the lower income rents set forth in Health & Safety Code Section 50053 and Section 50079.5 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. c. Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits as set forth above, the Monthly Rent charged by Developer shall not exceed thirty percent (30%) of the tenant's adjusted income. d. For purposes of this Agreement, “Monthly Rent” means the total of monthly payments for (a) use and occupancy of the Property and land and required facilities associated therewith (including parkingparking fees), (b) any separately charged fees or service charges assessed by the Developer which are required of all tenants, other than security deposits, (c) a reasonable allowance for an adequate level of service of utilities not included in (a) or (b) above, including garbage collection, sewer, water, electricity, gas and other heating, cooking and refrigeration fuels, but not including telephone service, and (d) possessory interest, taxes or other fees or charges assessed for use of the land and facilities associated therewith by a public or private entity other than Developer.

Affordable Rent. The maximum Monthly Rent chargeable to income eligible households shall be annually determined by the City and Authority in accordance with the HOME Program requirements and California Housing and Community Development (HCD) requirements,. The maximum rent that the Developer may change any household occupying an affordable unit shall meet the following requirements: a. The Monthly Rent payable by a tenant who meets the qualifying income limits for extremely-very- low income households shall not exceed the lesser of: a.) HOME program Low HOME Rents at 50% of the area median income rents as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the extremelyvery-low income rents set forth in Health & Safety Code Section 50053 and Section 50106 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. b. The Monthly Rent payable by a tenant who meets the income limits for lower income households Low Income Households shall not exceed the lesser of: : a.) HOME program High HOME Rents at the lesser of the Section 8 Fair Market Rents, or 65% of area median income, income rents as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the lower Low income rents set forth in Health & Safety Code Section 50053 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. c. Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits as set forth above, the Monthly Rent charged by Developer shall not exceed thirty percent (30%) of the tenant's adjusted income. d. For purposes of this Agreement, “Monthly Rent” means the total of monthly payments for (a) use and occupancy of the Property and land and required facilities associated therewith (including parkingparking fees), (b) any separately charged fees or service charges assessed by the Developer which are required of all tenants, other than security deposits, (c) a reasonable allowance for an adequate level of service of utilities not included in (a) or (b) above, including garbage collection, sewer, water, electricity, gas and other heating, cooking and refrigeration fuels, but not including telephone service, and (d) possessory interest, taxes or other fees or charges assessed for use of the land and facilities associated therewith by a public or private entity other than Developer.

Affordable Rent. The maximum Monthly Rent chargeable to income eligible households shall be annually determined by the City and Authority in accordance with the HOME Program requirements and California Housing and Community Development (HCD) requirements. The maximum rent that the Developer may change any household occupying an affordable unit shall meet the following requirements: a. The Monthly Rent payable by a tenant who meets the qualifying income limits for extremelyvery-low income households shall not exceed the lesser of: a.) Low HOME Rents at 50% of the area median income as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the extremelyvery-low income rents set forth in Health & Safety Code Section 50053 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. b. The Monthly Rent payable by a tenant who meets the income limits for lower income households shall not exceed the lesser of: a.) High HOME Rents at the lesser of the Section 8 Fair Market Rents, or 65% of area median income, as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the lower income rents set forth in Health & Safety Code Section 50053 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. c. Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits set forth above, the Monthly Rent charged by Developer shall not exceed thirty percent (30%) of the tenant's adjusted income. d. For purposes of this Agreement, “Monthly Rent” means the total of monthly payments for (a) use and occupancy of the Property and land and required facilities associated therewith (including parking), (b) any separately charged fees or service charges assessed by the Developer which are required of all tenants, other than security deposits, (c) a reasonable allowance for an adequate level of service of utilities not included in (a) or (b) above, including garbage collection, sewer, water, electricity, gas and other heating, cooking and refrigeration fuels, but not including telephone service, and (d) possessory interest, taxes or other fees or charges assessed for use of the land and facilities associated therewith by a public or private entity other than Developer.

Affordable Rent. The maximum Monthly Rent chargeable to income eligible households shall be annually determined by the City and Authority in accordance with the HOME Program requirements and California Housing and Community Development (HCD) requirements. The maximum rent that the Developer may change any household occupying an affordable unit shall meet the following requirements: a. The Monthly Rent payable by a tenant who meets the qualifying income limits for extremely-very- low income households shall not exceed the lesser of: : a.) HOME Program Low HOME Rents at 50% of the area median income rents as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the extremelyvery-low income rents set forth in Health & Safety Code Section 50053 and Section 50106 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. b. The Monthly Rent payable by a tenant who meets the income limits for lower income households Low Income Households shall not exceed the lesser of: a.) HOME program High HOME Rents at the lesser of the Section 8 Fair Market Rents, or 65% of area median income, income rents as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the lower Low income rents set forth in Health & Safety Code Section 50053 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. c. Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits set forth above, the Monthly Rent charged by Developer shall not exceed thirty percent (30%) of the tenant's adjusted income. d. For purposes of this Agreement, “Monthly Rent” means the total of monthly payments for (a) use and occupancy of the Property and land and required facilities associated therewith (including parking), (b) any separately charged fees or service charges assessed by the Developer which are required of all tenants, other than security deposits, (c) a reasonable allowance for an adequate level of service of utilities not included in (a) or (b) above, including garbage collection, sewer, water, electricity, gas and other heating, cooking and refrigeration fuels, but not including telephone service, and (d) possessory interest, taxes or other fees or charges assessed for use of the land and facilities associated therewith by a public or private entity other than Developer.

Affordable Rent. The maximum Monthly Rent chargeable to income eligible households for the Affordable Units shall be annually determined by the City and Authority Agency in accordance with the HOME Program requirements Community Redevelopment Law requirements, and California Housing and Community Development (HCD) requirements. The maximum rent that the Developer may change any household occupying an affordable unit shall meet the following requirements: a. The Monthly Rent payable by a the tenant who meets of the qualifying income limits Affordable Unit designated for extremely-low income households Extremely Low Households shall not exceed the lesser of: a.) Low HOME Rents at 50% of the area median income as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the extremely-low income rents set forth in California Health & Safety Code Section 50053 based on 50053, as may be amended by the methodology established State Legislature from time to time, as published annually by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the a reasonable monthly utility allowance. b. The Monthly Rent payable by a tenant who meets the income limits for lower income households shall not exceed the lesser of: a.) High HOME Rents at the lesser of the Section 8 Fair Market Rents, or 65% of area median income, as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the lower income rents set forth in Health & Safety Code Section 50053 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. c. . Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits for Extremely Low Income Households, adjusted for family size, the Monthly Rent charged by Developer must reflect the more stringent of (a) HOME program rents as determined by HUD, or (b) rents set forth abovein California Health & Safety Code Section 50053, adjusted for number of bedrooms in the unit. b. The Monthly Rent payable by the tenant of the Affordable Unit designated for Very Low Income Households shall not exceed rents set forth in California Health & Safety Code Section 50053, as may be amended by the State Legislature from time to time, as published annually by the California Housing and Community Department (HCD), adjusted for number of bedrooms in the unit, less a reasonable monthly utility allowance. Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits for Very Low Income Households, adjusted for family size, the Monthly Rent charged by Developer must reflect the more stringent of (a) HOME program rents as determined by HUD, or (b) rents set forth in California Health & Safety Code Section 50053, adjusted for number of bedrooms in the unit. c. The Monthly Rent payable by each tenant of an Affordable Unit designated for Low Income Households shall not exceed the rents set forth in California Health & Safety Code Section 50053, as may be amended by the State Legislature from time to time, as published annually by the California Housing and Community Department (HCD), adjusted for number of bedrooms in the unit, less a reasonable monthly utility allowance. Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits for Low Income Households, adjusted for family size, the Monthly Rent charged by Developer shall not exceed thirty percent (30%) of the tenant's adjusted income. d. The Monthly Rent payable to the tenant of the Affordable Unit designated for Moderate Income Households shall not exceed the lesser of (a) prevailing fair market value for comparable housing in the area, or (b) the Monthly Rent set forth in California Health & Safety Code Section 50053, as may be amended by the State Legislature from time to time, as published annually by the California Housing and Community Department (HCD), adjusted for number of bedrooms in the unit, less a reasonable monthly utility allowance. Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits for Moderate Income households, adjusted for family size, the Monthly Rent charged by Developer shall not exceed thirty percent (30%) of the tenant's adjusted income. e. For purposes of this Agreement, “Monthly Rent” means the total of monthly payments for (a) use and occupancy of the Property and land and required facilities associated therewith (including parking), (b) any separately charged fees or service charges assessed by the Developer which are required of all tenants, other than security deposits, (c) a reasonable allowance for an adequate level of service of utilities not included in (a) or (b) above, including garbage collection, sewer, water, electricity, gas and other heating, cooking and refrigeration fuels, but not including telephone service, and (d) possessory interest, taxes or other fees or charges assessed for use of the land and facilities associated therewith by a public or private entity other than Developer.

Affordable Rent. The maximum Monthly Rent chargeable to income eligible households shall be annually determined by the City and Authority in accordance with the HOME Program requirements and California Housing and Community Development (HCD) requirements. , The maximum rent that the Developer may change any household occupying an affordable unit shall meet the following requirements: a. The Monthly Rent payable by a tenant who meets the qualifying income limits for extremely-very- low income households shall not exceed the lesser of: : a.) HOME program Low HOME Rents at 50% of the area median income rents as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the extremelyvery-low income rents set forth in Health & Safety Code Section 50053 and Section 50106 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. b. The Monthly Rent payable by a tenant who meets the income limits for lower very- low income households shall not exceed the lesser of: a.) High HOME Rents at the lesser of the Section 8 Fair Market Rents, or 65% of area median income, Program Low HOME income rents as established and amended annually by the United States Department of Housing and Urban Development (HUD), adjusted for number of bedrooms in the unit, as well as the reasonable monthly utility allowance; or b.) the lower very-low income rents set forth in Health & Safety Code Section 50053 and Section 50106 based on the methodology established by the California Housing and Community Development Department (HCD), adjusted for number of bedrooms in the unit, less the reasonable monthly utility allowance. c. Notwithstanding the foregoing, however, if after the tenant’s initial occupancy of the housing unit, the tenant’s income increases to greater than the qualifying limits as set forth above, the Monthly Rent charged by Developer shall not exceed thirty percent (30%) of the tenant's adjusted income. d. For purposes of this Agreement, “Monthly Rent” means the total of monthly payments for (a) use and occupancy of the Property and land and required facilities associated therewith (including parkingparking fees), (b) any separately charged fees or service charges assessed by the Developer which are required of all tenants, other than security deposits, (c) a reasonable allowance for an adequate level of service of utilities not included in (a) or (b) above, including garbage collection, sewer, water, electricity, gas and other heating, cooking and refrigeration fuels, but not including telephone service, and (d) possessory interest, taxes or other fees or charges assessed for use of the land and facilities associated therewith by a public or private entity other than Developer.