2008-123 Housing - Affordable Housing Bond Development Agreement TBLF ENO HAVEN LLC $1,000,000

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i. The Owner shall ensure access to records and financial statements, as necessary, to provide effective monitoring and evaluation of project performance. Additionally, the Owner shall submit a copy of its annual audit to the County. ii. Upon reasonable advance notice, County or its authorized representatives may from time to time inspect, audit, and make copies of any of the Owner records that relate to this contract. If any audit by County discloses that payments to the Owner were in excess of the amount to which the Owner was entitled under this contract, the Owner shall promptly pay to County the amount of such excess. If the excess is greater than 1% of the contract amount, the Owner shall also reimburse County its reasonable costs incurred in performing the audit. iii. The Owner shall maintain files of all tenants, regardless of length of occupancy, residing in assisted units. Documentation shall verify eligibility for federal assisted housing at the point of initial tenancy and every subsequent year thereafter for the period of affordability. Information maintained shall include: tenant income level; name of family members; ethnic data; family type - e.g. female head of household; disability status; and monthly rent. iv. The Owner shall maintain records verifying the affordability of the dwelling units. g. Notices. Any Notice shall be in writing and shall be given by depositing the same in the United States mail, post-paid and registered or certified, and addressed to the party to be notified, with return-receipt requested, or by delivering the same in person to an officer or principal of such party. Notice deposited in the mail in the manner here in above described shall be effective upon mailing. For purposes of Notice, the addresses of the parties shall, unless changed as hereinafter provided, be as follows: To the County: Orange County c/o Housing, Development Human Rights and Community Department P.O. Box 8181 Hillsborough, NC 27278 ATTN: Director ii. To the Owner: TBLF Eno Haven, LLC c/o The Banks Law Firm, P.A. 4309 Emperor Boulevard Winchester Place, Suite 225 Durham, NC 27703 Either the County or the Owner may change the person or address to which any future Notice shall be given as herein provided.