Piazza & Associates, Inc.

1 Dear Applicant,On behalf of Monroe Township, I want to thank you for your interest in their affordable housing & Associates, Inc. has been engaged to assist you in the affordable housing application processfor these homes. Currently, there are five affordable offerings ) TALL OAKS SALES consists of 102 sale units in Tall Oaks, a condominium community thatincludes one-, two- and three- bedroom affordable homes. The Tall Oaks community has been indevelopment for some time, and only one 1-bedroom affrodable home remains. Detailed informationregarding specific homes, floor plans, association fees, etc., is available at the Monroe Manor sales ) TALL OAKS RENTAL homes are located in the same Tall Oaks development and consists of 25rental condominiums, there. All of the rental units are currently ) VILLAGE AT STRATFORD consists of 102 one- and two- bedroom, age-restricted rentalapartments at the Village at Stratford.

2 The first phase has been fully completed for some time. Thesecond phase of this community is newly constructed and being leased. The leasing office telephonenumber is ) STRATFORD MEADOWS consists of 38 two- and three- bedroom homes for sale at StratfordMeadows. The community is NOT age restricted. This project is currently under construction. Someunits are already under contract and closed. The sales office number is ) COURTS AT MONROE is a brand new offering. When completed, there will be a total of 26 one-,two- and three- bedroom affordable condominiums. The sales office number is offerings are in the planning phase and will be announced as soon as they become incomes for sales units will be determined by the ability of the purchaser to obtain mortgagefinancing if necessary.

3 Neither the Township of Monroe nor Piazza & Associates provide financing. Theminimum incomes for rental units are set forth below. The maximum sale price and rental rates aregoverned by this affordable housing program. All other terms and conditions of the purchase and leaseare those set forth by the sellers and apply, please complete the Preliminary Application (attached) and fax or mail it directly to us at: Piazza & Associates, Rockingham RowPrinceton, NJ 08540 Fax: three weeks, you will receive a letter of determination with regard to your preliminary ,Frank PiazzaPiazza & Associates, Agents for affordable HousingRev. 2/3/2016 Piazza & AssociatesAffordable housing Services216 Rockingham Row - Princeton Forrestal Village - Princeton, NJ 08540 Phone: (609) 786-1100 - Fax: (609) 786-1105 - E-mail: TOWNSHIP, MIDDLESEX COUNTY MAXIMUM GROSS ANNUAL HOUSEHOLD INCOME (2014) ** $97,440$90,720$84,000$75,600$67,200$58,8 00 Moderate$60,900$56,700$52,500$47,250$42, 000$36,750 Low SixPersonsFivePersonsFourPersonsThreePer sons TwoPersonsOnePersonTotal Numberof Persons inHousehold* Sales Prices and qualifications are subject to change without notice.

4 The minimum income for sales units is based, in part, onthe applicants ability to finance the purchase of the property. Piazza & Associates, Inc. does not provide financing. ** Rentalrates and qualifications are subject to change without notice. ^ The Village at Stratford is available to households in which oneperson is 55 years of age or older and no person is under 48 years of age at the time of application. ** The maximum income isbased on the total number of persons who will reside in the affordable home. These are adjusted annually and are subject tochange without 2/3/2016 SALES PRICES*Nu mb e r o fIn c o meCourts at MonroeTall OaksStratford Meadows*BedroomsCategoryFromToFromToOneM oderate$82,000Tw oLow$110,000$115,000$110,000$115,000Tw oModerate$157,000$165,000$155,000$175,00 0 ThreeLow$130,000$140,000$135,000$140,000 ThreeModerate$170,000$185,000$185,000$21 0,000 MONTHLY RENTAL RATES**Number ofIncomeTall Oaks Rental RatesThe Village at Stratf ord^BedroomsCategoryRentMin IncomeRentMin IncomeOneLow$721$27,908$556 &$782$19,283 OneModerate$1,078$40,148$1,025$33,840Tw oLow$861$33,497$661 & $932$23,700Tw oModerate$1,290$48,205$1,226$40,650 ThreeLow$990$38,742 ThreeModerate$1,486$55.

5 748 Preliminary ApplicationforAffordable HousinginTownship of Monroe Middlesex County, New JerseyThis is a Preliminary Application only. Do not send supporting documentation at this will be notified as to the status of your preliminary eligibility based on the information thatyou provide in this application. When an affordable home becomes available, eligible candidateswill be contacted. At that time, we will provide you with a list of documentation required tosupport and verify the information submitted in this application. We can not and do notguarantee housing based on the approval of this Preliminary Application. The affordablehousing at Tall Oaks at Monroe Manor is being developed, marketed and sold/rented by MonroeManor, Inc.

6 The affordable housing at Stratford at Monroe is being developed, marketed andsold/rented by Stratford at Monroe, LLC. Courts at Monroe is being developed by Toll Bros.,Inc. Application services are provided by Piazza & Associates, Inc., an affordable housingservices corporation and Administrative Agent for the Township of Monroe. This is an EqualHousing Opportunity. This program is subject to municipal and state affordable housingregulations, but no guarantee can be made that these homes are affordable to all program is subject to availability. Prices, terms and conditions are subject to changewithout & Associates, Inc. affordable housing Services216 Rockingham Row Princeton Forrestal Village Princeton, NJ 08540 Telephone: 609-786-1100 Facsimile: 609-786-1105 HousingPolicies and RequirementsFor All Applicants _____This is an equal housing opportunity.

7 Federal law prohibits discrimination against any personmaking application to buy or rent a home with regard to age, race, religion, national origin, sex,handicapped or familial status. State law prohibits discrimination on the basis of race, creed, color,national origin, ancestry, nationality, marital or domestic partnership or civil union status, familialstatus, sex, gender identity or expression, affectional or sexual orientation, disability, source oflawful income or source of lawful rent payment. This affordable housing must be the intended primary residence of the applicant. All household members, including the applicant s spouse, must be listed in the PreliminaryApplication. If changes in income or household composition occur during the applicationprocess, or if there is a change of address, the applicant is required to notify Piazza &Associates, Inc.

8 In writing, immediately. Applications must be truthful, complete and accurate. Any false statement makes theapplication null and void, and subjects the applicant to penalties imposed by law. Annual Income includes, but is not limited to, salary or wages, alimony, child support, socialsecurity benefits, unemployment benefits, pensions, business income, and actual or imputedearnings from assets (which include bank accounts, certificates of deposit, stocks, bonds, orother securities), and real estate. If you own a home in which you are currently residing and which you intend to sell prior toliving in an affordable home, compute your income from this asset by taking the market valueof your home, subtracting the current principal of your mortgage, and multiplying the balanceby the current HUD Passbook Savings Rate.

9 Income from other real estate holdings isdetermined by the actual income you receive from the asset (less expenses, but not less yourmortgage payment). Specific documentation to verify income and assets, as well as a letter of prequalification formortgage financing from a licensed lending institution be required at a later date. Please understand that the pricing and rental rates for this affordable housing are establishedand governed by Federal, State and / or municipal regulations. Although consideration ismade for low- and moderate- categories of household incomes, sales prices do not fluctuate onthe basis of each individual applicant's income. Therefore, we can not and do not guaranteethat any home will be affordable to YOU or YOUR household.

10 We do not provide financing to purchase affordable homes. Financing for an affordable homeis subject to terms and conditions set forth by the State of New Jersey. Monthly payments,including principal, interest, property taxes, insurance and condominium fees, may not exceed33% of your income without the applicant receiving home- buyer counseling by an agencyapproved by HUD or the N. J. Department of Banking and Insurance, which details theadvisability of such a mortgage loan. For a list of approved counseling agencies, contactHUD, the N. J. Department of Banking and Insurance or our website: If you need assistance completing this application, please contact us at 609-786-1100. DO NOT SEND SUPPORTING DOCUMENTATION WITH THIS mail your application to the address, below, or fax it to us at Rockingham Row - Princeton, NJ 08540 Piazza & Associates, of MonroeMiddlesex County, New Jersey A.