SITUATION 2: Project Financed Under Section 11(b) or Section 103

A. Submit a copy of the portion of the bond documents or other controlling document that specifically obligates the project to lease to low-income families with incomes above 50% of the area median. Provide evidence of the date the document was signed and the period for which it is effective.

B. Submit evidence that the bondholder or mortgagee has and will continue to enforce that policy. This could be a statement signed by the entity that established a policy.

C. State what penalties the project will incur for failure to comply with the economic mix described in subparagraph A above.