Common use of Annual Verification Clause in Contracts

Annual Verification. No later than April 15th of each year, beginning in the year following the first year of occupancy of the Property, Owner shall submit a written statement to BSCHT including the following information and stating that such information is true and correct to the best of Owner’s knowledge and belief: a. Evidence to establish that the Property was occupied by a Qualified Household during all of the prior calendar year; b. If applicable, a copy of the lease form currently used for the Property; c. If applicable, a list of tenants who occupied the Property in the prior calendar year and evidence that at least one tenant is a Qualified Resident, as set forth in the Qualification Guidelines; and d. Federal Income Tax Documents for Owner, or Owner’s tenant if the tenant is identified as the Qualified Resident. Federal Income Tax Documents may include Internal Revenue Service Form 1040, applicable schedules, W2s, and 1099s. In the event the tenant is identified as the Qualified Resident, Owner shall require the tenant to fill out an Internal Revenue Service Form 8821 Tax Information Authorization. In the event Owner does not provide the annual verification information required in this Section 4 to BSCHT, Owner shall be subject to the following fines for each year of noncompliance with this Section 4. Tax Day (typically April 15th) $250 June 1st $500 For Extension: six months from Tax Day $250 For Extension: December 1st $500

Annual Verification. No later than April 15th of each year, beginning in the year following the first year of occupancy of the Property, Owner Seller shall submit a written statement to BSCHT Buyer including the following information and stating that such information is true and correct to the best of OwnerSeller’s knowledge and belief: a. Evidence to establish that the Property was occupied by a Qualified Household during all of the prior calendar year; b. If applicable, a copy of the lease form currently used for the Property; c. If applicable, a list of tenants who occupied the Property in the prior calendar year and evidence that at least one tenant is a Qualified Resident, as set forth in the Qualification Guidelines; and d. Federal Income Tax Documents for OwnerSeller, or OwnerSeller’s tenant if the tenant is identified as the Qualified Resident. Federal Income Tax Documents may include Internal Revenue Service Form 1040, applicable schedules, W2s, and 1099s. In the event the tenant is identified as the Qualified Resident, Owner Seller shall require the tenant to fill out an Internal Revenue Service Form 8821 Tax Information Authorization. In the event Owner Seller does not provide the annual verification information required in this Section 4 6 to BSCHTBuyer, Owner Seller shall be subject to the following fines for each year of noncompliance with this Section 46. Tax Day (typically April 15th) $250 June 1st $500 For Extension: six months from Tax Day $250 For Extension: December 1st $500

Annual Verification. No later than April 15th of each year, beginning in the year following the first year of occupancy of the Property, Owner Owners shall submit a written statement to BSCHT including the following information and stating that such information is true and correct to the best of Owner’s Owners’ knowledge and belief: a. Evidence to establish that the Property was occupied by a Qualified Household during all of the prior calendar year; b. If applicable, a copy of the lease form currently used for the Property; c. If applicable, a list of tenants who occupied the Property in the prior calendar year and evidence that at least one tenant is a Qualified Resident, as set forth in the Qualification Guidelines; and d. Federal Income Tax Documents for OwnerOwners, or Owner’s Owners’ tenant if the tenant is identified as the Qualified Resident. Federal Income Tax Documents may include Internal Revenue Service Form 1040, applicable schedules, W2s, and 1099s. In the event the tenant is identified as the Qualified Resident, Owner Owners shall require the tenant to fill out an Internal Revenue Service Form 8821 Tax Information Authorization. In the event Owner does Owners do not provide the annual verification information required in this Section 4 to BSCHT, Owner Owners shall be subject to the following fines for each year of noncompliance with this Section 4. Tax Day (typically April 15th) $250 June 1st $500 For Extension: six months from Tax Day $250 For Extension: December 1st $500

Annual Verification. No later than April 15th of each year, beginning in the year following the first year of occupancy of the Property, Owner Sellers shall submit a written statement to BSCHT Buyer including the following information and stating that such information is true and correct to the best of Owner’s Sellers’ knowledge and belief: a. Evidence to establish that the Property was occupied by a Qualified Household during all of the prior calendar year; b. If applicable, a copy of the lease form currently used for the Property; c. If applicable, a list of tenants who occupied the Property in the prior calendar year and evidence that at least one tenant is a Qualified Resident, as set forth in the Qualification Guidelines; and d. Federal Income Tax Documents for OwnerSellers, or Owner’s Sellers’ tenant if the tenant is identified as the Qualified Resident. Federal Income Tax Documents may include Internal Revenue Service Form 1040, applicable schedules, W2s, and 1099s. In the event the tenant is identified as the Qualified Resident, Owner Sellers shall require the tenant to fill out an Internal Revenue Service Form 8821 Tax Information Authorization. In the event Owner does Sellers do not provide the annual verification information required in this Section 4 6 to BSCHTBuyer, Owner Sellers shall be subject to the following fines for each year of noncompliance with this Section 46. Tax Day (typically April 15th) $250 June 1st $500 For Extension: six months from Tax Day $250 For Extension: December 1st $500