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5 <br /> 9. The five affordable units, as designated by the Applicant, shall be restricted, in <br /> perpetuity, as low or moderate income housing for sale to households earning no <br /> more than eighty(80%) percent of the median household income for the area, as may <br /> be determined by reference to statistics compiled.by the Department of Housing and <br /> Community Development or the Federal Department of Housing and Urban <br /> Development or the successor agencies thereto. Additionally, a sixth unit, as <br /> designated by the Applicant shall be restricted, in perpetuity, for sale to households <br /> earning no more than one hundred and ten (120%) of the median household income <br /> for the area. The affordable units shall be indistinguishable from the market rate units <br /> on the exterior. <br /> 10. No building permits shall be issued until the execution of the documents that are <br /> necessary to ensure affordability and profit limitation. Such documents shall include <br /> a Regulatory Agreement and Monitoring Services Agreement and shall be submitted <br /> to Special Counsel for review and approval. No building permits sha b issued until <br /> the Special Counsel has approved the form of the Applicant's deed rider(s) for the <br /> affordable units. <br /> 11. The maximum number of units allowed by law, but no more than seventy (70%) <br /> percent, of the affordable units shall be reserved for present residents of Mashpee, or <br /> the children of present Mashpee residents, or the parents of present Mashpee <br /> residents, or employees of the Town of Mashpee or teachers employed by the school <br /> district serving Mashpee. A lottery shall be established in a form approved by <br /> Special Counsel to effectuate this local preference. <br /> 12. The Board shall choose a Monitoring Agent with requisite experience to undertake <br /> the duties under the Monitoring Services Agreement. The Applicant shall be required <br /> to maintain status as a limited dividend entity. In the event that profit is deemed by <br /> the Monitoring Agent to exceed profit limitations, the Applicant shall ensure and <br /> provide evidence that it maintains sufficient assets to meet its obligations under <br /> Regulatory Agreement with respect to the payment of excess profits. In the <br /> calculation of costs of development, the Applicant shall be limited only to its actual <br /> costs and investments. <br /> 13. At a minimum, one out of every four units sold shall be an affordable unit. Upon the <br /> sale of any affordable unit,the Applicant shall provide the Board with a copy of the <br /> recorded deed rider. <br /> '14. The applicant shall submit, for Special Counsel's approval, all corporate, trust or <br /> - - association documents that are necessary in order to maintain the roads, storm water <br /> management system and any other common facilities of the project. The Board's <br /> engineer shall approve the maintenance schedule for the storm water system. <br /> Documents governing maintenance shall contain a permanent guarantee by the <br /> owners, which shall provide for mandatory assessments for any necessary <br /> maintenance expenses. <br /> 15. The stormwater management system shall be designed to meet or exceed all best <br /> management practices and the Massachusetts Stormwater Management Guidelines. <br /> Construction of the stormwater management system shall not commence until the <br />