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Affordable Housing Covenant – Teanaway Court (Kittitas County) Page 2 2. The Grantor shall develop, own, manage, and operate the Property as low-income multi- family housing in accordance with the terms of this Covenant and the Contract on a continuous basis during the Affordability Period. Except as specifically provided in this Section or the Contract, or otherwise consented to by the County, the Property shall not be devoted to any use other than low-income housing as described herein, together with common areas and support facilities for residents, without the express written consent of the County, in its discretion.. 3. Consistent with the requirements of RCW 36.22.250, upon completion of the construction of the Project (i) five (5) of the residential units at the Project shall be rented to tenants who are “homeless” at the time of initial occupancy as defined by the Department of Housing and Urban Development (“HUD”) at 24 CFR 578.3; and (ii) one (1) of the five units set aside for tenants who are homeless shall also be restricted to tenants with gross annual household incomes at the time of initial occupancy no higher than fifty percent (50%) of area median income for Kittitas County, Washington adjusted for family size (“AMI”) as estimated from time to time by HUD. If HUD ceases to provide such estimates of median income, then median income shall mean such comparable figure for Kittitas County, Washington published or reported by a federal, state, or local agency as the County shall select. 4. The five units set aside for tenants who are homeless at initial occupancy shall be filled through the County-wide Coordinated Entry program managed by HopeSource or its successor program in accordance with the Contract. 5. Grantor shall use the Project and the Property to provide safe and sanitary housing, and shall comply with all applicable Federal, State, and local housing codes, licensing requirements, and other requirements of the Contract regarding the condition and the operation of the Project and the Property. 6. Grantor shall keep any records and make any reports relating to compliance with this Covenant that the County may reasonably require. 7. This Covenant has priority over the Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filings in favor of the County of even date herewith (the “Deed of Trust”), and shall survive any payment, release, satisfaction or cancellation of the County Note or the Deed of Trust occurring prior to the expiration of the Affordability Period. The covenants herein are independent of and in addition to the covenants in the Deed of Trust between the Grantor and the County, any other covenants made for the benefit of the County. This Section shall not prohibit any mortgages, deeds of trust, regulatory agreements and covenants for the purposes of the future financing, nor prohibit any transfer upon foreclosure of a deed of trust or mortgage approved by the County, or in lieu of foreclosure thereof, or any subsequent transfer, but any transfer shall be subject to the terms of this Covenant. 8. DEFAULT: If a violation of any of the foregoing covenants occurs, the County may, after thirty (30) days’ notice to Grantor, and if applicable, their successors and assigns, heirs, grantees, or lessees of the Property, institute and prosecute any proceeding at law or in equity to abate, prevent, or enjoin any such violation or to compel specific performance by the Grantor of its obligations hereunder; provided that the Grantor shall not be required by any provision herein to evict a residential tenant. No delay in enforcing the provisions hereof as to any breach or violation, shall impair, damage or waive the right of the County to enforce the provisions hereof or to obtain relief against or recover for the continuation or repetition of such breach or violations or any similar breach or violation hereof at any later time. No waiver of any breach or violation shall be binding unless in writing signed by the County and no waiver or delay in enforcing the provisions hereof as to any breach or violation shall impair, damage or waive the right of the County to obtain relief against or recover for the continuation or repetition of such breach or violation or any similar breach or violation thereof at any later time or times. The Grantor