Cobblers Station Apartments

Cobblers Station Apartments 301 Commodore Street Clayton, NC 27520 (919) 550-8506 Phone (919) 550-8803 Fax Thank you for your interest in Cobblers Station Apartments! We are pleased to offer such affordable living in a peaceful and beautiful part of busy Clayton. Cobblers Station is now leasing two and three bedroom apartment homes. Each apartment offers washer/dryer connections, dishwasher, stove and refrigerator, and balconies (upstairs) or porches (downstairs). The Two Bedrooms- one bath rents for only $575.00 per month, while the Three Bedrooms- two baths rents for just a fraction more at $675.00 per month.

The following items will be needed to process your application expediently:

1. You must bring a $25.00 money order for each adult or $40.00 per married couple made payable to Cobblers Station when you submit your completed application. 2. You must include State issued Photo ID and Social Security cards for each adult applying and Birth Certificates and social security cards for each child.

The following criteria must be met before you can call one of our apartments home.

1. You must have an acceptable credit report. 2. You must have an acceptable criminal background check. 3. Your annual income must meet our minimum income requirement. (Determined by # of persons in your household) 4. Your annual income cannot exceed the State maximum income level for your family size.

We look forward to having you as a resident at Cobblers Station Apartments. If you have any questions regarding our apartments or the application process, our site manager will be happy to assist you.

CERTIFICATION QUESTIONNAIRE WAJ Management, LLC 7000 Six Forks Rd. #105 Raleigh, NC 27615 Community Qualifying Standards Cobblers Station Apartments

Dear Prospective Tenant,

We at WAJ Management, LLC appreciate your interest in applying at our apartment community. We hope to be able to assist you in your goal in finding an affordable new home in North Raleigh.

Cobblers Station Apartments is a community that is regulated by the IRS Section 42 Tax Code, and is therefore rent and income restricted. There are also restrictions prohibiting occupancy by households in which all members are full-time students. The application explains the exceptions to this requirement. In order to qualify to live at Cobblers Station Apartments, your total annual household income must fall within the following limits:

The minimum annual qualifying income is based on the number of bedrooms as follows: 2 Bedroom apartment is $15,000. 3 Bedroom apartment is $16,776.

The maximum allowable annual qualifying income is based on the size of the household: 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person $32,280 $36,900 $41,520 $46,140 $49,860 $53,520

If you desire to be considered for an apartment, the following qualification requirements must be met before you are given Final approval to move-in. Before your application is processed, we will pre-qualify you as far as income eligibility, but the full application process must be completed before giving final approval.

The prospective tenant must submit with the application: 1. A Completed Application 2. A Credit Report Fee of $25.00 (Money Order only) per adult or $40.00 per married couple.

Based on the information provided by the applicant, the site manager will acquire Landlord references and Written third-party verification of ALL HOUSEHOLD INCOME AND ASSETS, and will submit these with the application to the home office. Listed below are the requirements of approval.

1. Credit Approval 2. A Satisfactory police or Criminal Record that will be obtained by Cobblers Station 3. Acceptable Landlord References 4. Third-party Verification of ALL Household Income and Assets 5. Final Approval from the Home Office

If ANY of the above requirements do not meet our company policy, your application will be rejected and you will be denied an apartment. If approved, you will be promptly set up for a move-in date.

If you have any questions, we will be happy to assist you. After hours you may leave a message and we will promptly return your call. You may contact Cobblers Station at 919-550-8506.

WAJ Management, LLC

CERTIFICATION QUESTIONNAIRE Property Name: __ Cobblers Station Apartments ______Date: ______

To Be Completed by each Household Member ages 18 and older. PLEASE ANSWER ALL QUESTIONS! Do not leave any space blank, write “No or N/A” where appropriate. PLEASE PRINT:

1. FAMILY DATA: Household Member

Current Address: Street City State Zip Day Phone Night Phone

From:______To:______Landlord Name:______

Landlord Address:______Phone Number:(____)______

Previous Address (if current address less than 3 years): Street City State Zip______

______From:______To:______Current Marital Status: Single_____ Married _____Divorced _____ Separated _____ Widowed _____

Have you ever used another name? (Y/N) ______If so please indicate name ______

Directions to Member: Please complete the table below listing each member of the household, whether or not those members are related. Include all members who you anticipate will live with you at least 50% or more of the time during the next 12 months. (A full time student is anyone who is enrolled for at least five calendar months for the number of hours or courses, which are considered full-time attendance by that institution. The five months need not be consecutive).

If you need additional space for answers to any paragraph listed below, attach additional sheets and make sure you include a reference to the paragraph number and your name. 2. HOUSEHOLD COMPOSITION: List each person living in the unit. Full Time Relationship Date of Gender Student Employed Social Security Member Name(s) To Head Birth (M/F) (Y/N) (Y/N)) Number 1. Head

Do all of the above household members reside in the household 100% of the time? (Y/N) If no, please list those not living in the household 100% of the time ______Anticipated changes in household size within the next 12 months? (Y/N) ______If Yes, explain ______Anticipated change in number of students within the next 12 months? (Y/N) ______If Yes, explain ______Are all occupants’ full time students? Yes _____ No _____ If Yes, please complete student status affidavit.

Name: ______CERTIFICATION QUESTIONNAIRE 3. CURRENT EMPLOYMENT INFORMATION Employer’s Name

Street Address City State Zip Code

Date Hired Hourly Weekly bi-Weekly twice a month Hours worked per week Gross Salary $______Monthly Yearly Other

Termination Date Supervisor’s Name Work Telephone # Work Fax #

ADDITIONAL EMPLOYMENT Employer’s Name

IF CURRENTLY UNEMPLOYED, LIST PREVIOUS EMPLOYMENT Employer’s Name

4. SOURCE OF INCOME Is income received from any of the following? Please mark “yes” or “no” for each source of income. Employment Income Check one Amount Received Bonuses Yes No Income______Weekly Monthly Annually Tips Yes No Income______Weekly Monthly Annually Commission /fees Yes No Income______Weekly Monthly Annually Overtime pay Yes No Income______Weekly Monthly Annually Hourly Rate$______Typical overtime worked throughout the year Hours Worked______Week Pay Period Month

Hourly Rate$______Occasional or seasonal overtime Overtime Hours ______Week Pay Period Month

Workers compensation Yes No Amount / Month $______Unemployment Yes No Amount / Month $______

CERTIFICATION QUESTIONNAIRE Name: ______

5. OTHER SOURCES OF INCOME

Is income received from any of the following sources? Please mark “yes” or “No” for each source of income. Type of Asset Check One Monthly Amount Wages, Salary, etc. thru Employment Yes No Income from a Business or Profession Yes No Social Security Yes No SSI Yes No AFDC or other Public Assistance Yes No Alimony Yes No Child Support Yes No Unemployment Compensation Yes No Workers' Compensation Yes No Severance Pay Yes No Retirement Income Yes No Annuities Income Yes No Insurance Policies Income Yes No Disability or Death Benefits Yes No Income from Rental Property Yes No Regularly Recurring monetary gifts Yes No Scholarships Yes No Grants Yes No Educational Entitlements Yes No Regular, Special Armed Forces Allowances Yes No Work Study Programs Yes No Regular Occurring Allowance Yes No Long Term Care Payments Yes No Pensions Yes No Income from Training Programs Yes No Resident Students Yes No Severance Pay Yes No Other Income Yes No

CERTIFICATION QUESTIONNAIRE Name: ______

6. HOUSEHOLD ASSETS

Do you or anyone in the household have any of the following assets? Please mark “yes” or “No” for each source of income. Type of Asset Check One Value of Asset Name of Institution Checking Accounts Yes No Savings Accounts Yes No Certificates of Deposits* Yes No Money Market Funds Yes No Mutual Funds/Stock* Yes No Treasury Bills Yes No IRA 401K* Yes No Company Retirement Accounts* Yes No Annuities Income* Yes No Life Insurance Policies (Whole Life)* Yes No Pension Funds* Yes No Trust Accounts Yes No If yes, is it revocable? Yes No Personal Property Held for Investment Yes No Mortgage or Deed of Trust Yes No Cash held in Safety Deposit Boxes, etc. Yes No House/Real Estate* Yes No Rental Property Yes No Other Investments Yes No Have you received any lump sum payments Yes No such as the following: Inheritances Yes No Lottery or other Winnings Yes No Insurance Settlements Yes No Workers' Compensation Settlements Yes No Social Security Disability Settlements Yes No Unemployment Compensation Settlements Yes No VA Disability Settlements Yes No Severance Pay Yes No Capital Gains Yes No Other Yes No

Name: ______For each “Yes” marked above, please complete the following: Household member name Type of asset Value (see note) Interest / Income

CERTIFICATION QUESTIONNAIRE Note: *When listing the cash value of any of the items that have an asterisk, please keep in mind penalties for withdrawal, or any fees deducted to convert the asset to cash. For example, if you owned a home, and sold it, how much cash would you have after you paid off the mortgage, the realtor etc.? That’s the amount you should list in the “ value” column.

Have you disposed of any assets for less than it’s worth within the last two year? (State if the sale was due to foreclosure, bankruptcy or divorce, answer no) Yes No ______

I understand that the above information is being collected to determine my eligibility for residence. I authorize the owner/manager to verify information provided on this application and my signature is my consent to obtain such verification. I certify that I have revealed all assets currently held or previously disposed of and that I have no other assets than those listed on this form (other than personal property). I further certify that the statements made in this application are true and complete to the best of my knowledge and belief and am aware that false statements are punishable under Federal law. Credit report fee must be in the form of a check or money order payable to WAJ Management, LLC. in the amount of $25.00 per applicant or $40.00 per married couple. Application Fee is non-refundable. Security Deposit payments will be held in accordance with North Carolina Real Estate Law up to 72 hours. The security deposit will not be refunded after 72-hours unless management has rejected the rental application. Deposits are non-refundable until lease is fulfilled.

**ELIGIBILITY OF STUDENTS** The following rules apply to qualify as a student (only if the entire household is comprised of full-time students, would one of the following exceptions need to be used to qualify the household).

Full-time students cannot be considered low-income unless: 1. They are married and have filed a joint federal tax return 2. The household receives AFDC benefits 3. They are involved in certain federal or state job training 4. They are a single parent and his/her minor children and non of the tenants are a dependent of third party

I understand that this application and all related inquires will be used only for its relevance to screening and occupancy at this property.

______Signature Date

We would like to know how you heard about us? ( ) Newspaper ( ) Internet ( ) Drive By ( ) Resident

Desired Move in Date:______Apartment Size Desired: Number of Bedrooms ______GENERAL CONSENT

I / We ______, the undersigned, hereby authorize all persons or companies in the categories listed below to release, without liability, information regarding employment, income, and / or assets to ____Cobblers Station Apartments______(Property Name) for purposes of verifying information on my / our apartment rental application.

INFORMATION COVERED

CERTIFICATION QUESTIONNAIRE I / we understand that previous or current information regarding me / us may be needed. Verifications and inquiries that may be requested include, but are not limited to: personal identity, employment, income, assets, or medical or childcare allowances. I/We understand that this authorization cannot be used to obtain any information about me/us that is not pertinent to my eligibility for and continued participation as a Qualified Tenant.

GROUPS OR INDIVIDUALS THAT MAY BE ASKED

The groups or individuals that may be asked to release the above information include, but are NOT limited to: Past and Present Employers Veterans Administration Public Housing Agencies Welfare Agencies Retirement Systems State Unemployment Agencies Social Security Administration Support and Alimony Providers Banks and Other Financial Institutions Medical and Child Care Providers Current and Previous Landlords CONDITIONS

I/We agree that a photocopy of this authorization may be used for the purposes stated above. The original of this authorization is on file and will stay in effect for a year and one month from the date signed. I/We understand that I/we have a right to review this file and correct any information that is incorrect.

SIGNATURES

______Applicant / Resident Print Name Date

______Co-Applicant / Resident Print Name Date

For households whose combined net assets do not exceed $5,000. Complete only one form per household; include assets of children.

Household Name: ______Unit No: ______

Development Name: ______Cobblers Station______City: Clayton

Complete all that apply for 1 through 4:

1. My/our assets include: (A) (B) (A*B) (A) (B) (A*B) Cash Int. Annual Cash Int. Annual Value* Rate Income Source Value* Rate Income Source $______$______Savings Account $______$______Checking Account CERTIFICATION QUESTIONNAIRE $______$______Cash on Hand $______$______Safety Deposit Box $______$______Certificates of Deposit $______$______Money Market Funds $______$______Stocks $______$______Bonds $______$______IRA Accounts $______$______401K Accounts $______$______Keogh Accounts $______$______Trust Funds $______$______Equity in Real Estate $______$______Land Contracts $______$______Lump Sum Receipts $______$______Capital Investments $______$______Life Insurance Policies (excluding Term) $______$______Other Retirement/Pension Funds not named above: ______$______$______Personal property held as an investment**: ______$______$______Other (list): ______

PLEASE NOTE: Certain funds (e.g., Retirement, Pension, Trust) may or may not be (fully) accessible to you. Include only those amounts which are.

*Cash value is defined as market value minus the cost of converting the asset to cash, such as broker’s fees, settlement costs, outstanding loans, early withdrawal penalties, etc.

**Personal property held as an investment may include, but is not limited to , gem or coin collections, art, antique cars, etc. Do not include necessary personal property such as, but not necessarily limited to, household furniture, daily-use autos, clothing, assets of an active business, or special equipment for use by the disabled.

2. Within the past two (2) years, I/we have sold or given away assets (including cash, real estate, etc) for more than $1,000 below their fair market value (FMV). Those amounts* are included above and are equal to a total of: $______(*the difference between FMV and the amount received, for each asset on which this occurred).

3. I/we have not sold or given away assets (including cash, real estate, etc.) for less than fair market value during the past two (2) years.

4. I/we do not have any assets at this time.

The net family assets (as defined in 24 CFR 813.102) above do not exceed $5,000 and the annual income from the net family assets is $______. This amount is included in total gross annual income.

Under penalty of perjury, I/we certify that the information presented in this certification is true and accurate to the best of my/our knowledge. The undersigned further understand(s) that providing false representations herein constitutes an act of fraud. False, misleading or incomplete information may result in the termination of a lease agreement.

______Applicant/Tenant Date Applicant/Tenant Date

ANNUAL STUDENT CERTIFICATION Effective date ______Move in date ______Under the Low Income Housing Tax Credit Program households comprised of full time students are not eligible for tax credits unless they meet one of the student exceptions. This document is the Annual Student Certification to confirm the student status of the resident(s) residing in the following unit:

Property Name Cobblers Station Apartments Unit Number Head of Household Name: BIN#

Check A, B, or C, as applicable to the resident(s) in the unit. Note: Students include those attending kindergarten through a PhD and all other types such as barber/beauty, police academies, technical, trade and mechanical schools.

CERTIFICATION QUESTIONNAIRE A. Household contains at least one occupant who is not a student and has not been or will not be a student for five months or more out of the current and/or upcoming calendar year (months do not need to be consecutive). If checked, no further information is necessary except for signature and date at the bottom of the page. B. Household contains all students, but is qualified because the following occupant(s) is/are part time student(s). Verification of part time student status is required for at least one resident. Part time Student(s):

C. Household contains all FULL TIME students for five or more months out of upcoming calendar year. If this box is checked, answer questions 1-5 below:

1. Are the students married and entitled to file a joint tax return? (copy of marriage YES NO certificate required to verify eligibility) 2. Is at least one student a single parent with child(ren) and this parent is not a YES NO dependent of someone else, and the child(ren) are not a dependent of someone else other than a parent? (Documentation such as the divorce or child custody agreement or other parent’s most recent tax return is required). 3. Is at least one student receiving Temporary Assistance to Needy Families YES NO (TANF)? (documentation of assistance is necessary) 4. Does at least one student participate in a program receiving assistance under the YES NO Job Training Partnership Act, Workforce Investment Act, or under similar federal, state or local program? (verification of participation is required) 5. Does the household consist of at least one student who was previously under foster YES NO care? (verification of participation is required)

Full-time student households that are income eligible and satisfy one of the 5 above conditions or exceptions are tax credit eligible. If any of the conditions are marked NO, or verification is missing or does not support the exception, the household is considered an ineligible student household.

Under penalties of perjury, I/we certify that the information presented in the Annual Student Certification is true and correct and accurate to the best of my/our knowledge and belief. I/we agree to notify management immediately of any changes in the student status of any household member. The undersigned further understands that providing false information or making false representations constitutes an act of fraud. False, misleading or incomplete information may result in the termination of the lease agreement.

All household members 18 years of age or older must execute and date.

Signature Date Signature Date

CERTIFICATION QUESTIONNAIRE