of _____________________ Berini Drive

(hereinafter called the “Member (s)”)

WHEREAS the Co-op has funds available to subsidize the monthly Housing Charge of Member(s) residing in units owned by the Co-op and:

WHEREAS the Member(s) is signatory to a valid Occupancy Agreement in Respect of such a unit; and:

WHEREAS the Member(s) has submitted an application for subsidy and a verification of income under the terms of “Appendix B” of the Occupancy Agreement of the Co-op,

The Co-op and the Member(s) hereby agree as follows:

1. INTERPRETATION:

Where more than one member signs this Agreement and/or resides in a Co-op unit with a signatory to the Agreement, it is understood that all, individually and collectively, are responsible under the Agreement.

It is further understood that violation of the Agreement by one Member residing in the unit shall be deemed to be violation by all Members, and notice by the Co-op to one Member shall be deemed to be notice to all Members.

Where the masculine gender or singular form used in reference to Member, it is to be interpreted in the feminine gender and plural form when applicable.

2. DEFINITION:

Wherever the words “Unit”, “Housing Charge” and Occupancy Agreement” appear in the Agreement, they shall be understood to be defined as they are defined in the Bylaws of the Co-op.

3. PROOF OF INCOME:

The Member(s) hereby affirm that the income verification provided to the Co-op is complete to the best of their knowledge and truly represents the pre-tax income of their household from all sources. Housing charge will be adjusted monthly, based on verification provided. Verification in the form of official receipts, must be brought to the office by the 15th of every month.

Income includes: gross wages, bursaries, scholarships, forgivable student loans, social assistance, unemployment insurance payments, pensions, alimony, child supports, RRSP income, super annuation, annuities, etc.

Income does not include repayable student loans, child tax benefits, GST rebates and Employment supplement Children of the household under the age of 25 who can verify that they are in full time attendance at a recognized learning institution are excluded from the income verification process. All students must supply a copy of their Student Loans Assessment Data.

Definition of “official receipts” may include – pay stubs, t-slips, tax assessments, student loan financial assessment, signed declaration of income, and income tax forms. That is all the Committee may ask for from any member.

4. CHANGE OF HOUSING CHARGE:

In the event that the General Membership approves any changes in the housing charges, this subsidy agreement will cease on the day the housing charge change becomes effective.

The Co-operative agrees to notify the Member(s) in writing that the subsidization will cease. The notice will state that renewed applications and income verification will be due and must be received in the Co-op Office within thirty (30) days of such notification. It is the Member’s responsibility to submit such application and verification, and failure to receive notification from the Co-op in no way absolves the Member(s) of the responsibility.

5. EARLY TERMINATION:

This Agreement may be terminated before the date specified in section 6 for any or all of the following reasons:

a) An increase in income that disqualifies the Member(s) according to the Co-op’s

Housing Charge Assistance program;

b) Failure to report additional household income or provide verification monthly.

c) Failure to abide by the Bylaws of the Co-op;

d) Failure to abide by the terms of the Occupancy Agreement;

e) Failure to abide by the terms of the Subsidy Agreement;

f) Willful falsification of the application for subsidy or income verification.

6. TERMS OF AGREEMENT:

The benefits under this Agreement shall commence on January 1, 20_____ and shall continue until December 31, 20____, or until they are terminated in accordance with the provisions of this Agreement.

7. AMOUNT OF SUBSIDY:

Subject to the provisions of this agreement, the Co-op agrees to pay on behalf of the member(s) the amount which is determined monthly, which with the amount due from the Member(s) which is also calculated monthly, Member’s unit’s share of the mortgage payment.

8. CONSENT:

As a precondition to obtaining the benefits provided for hereunder this Agreement, the Member(s) agrees to, and makes an undertaking, to provide to the Co-op annually, or as may be required, bona fide copies of his/her Annual Revenue Canada Tax Assessment Notice as a “back up” for income verification.

The Member(s) acknowledges that he/she has been clearly explained and fully understands and consents to the essential prerequisites for obtaining benefits under the Income Tested Assistance Program.

IN WITNESS WHEREOF the Co-op and the Member(s) have signed the Agreement:

Rainbow Housing Co-operative Limited Member(s)