ORANGE COUNTY COMMUNITY HOUSING CORPORATION - 2008

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possible after adoption by the Secretary of Housing and Urban Development, as provided in California Health and Safety Code Section 50079.5. 2. Method of Sale: A. Procedure to Notify Agency (1) Notice of Proposed Sale. If at any time during the duration of this Attachment, the Owner desires or elects to .sell, transfer, convey, assign or otherwise dispose the Subject Property ("dispose"), the Owner in such event is required to do so only to a Qualified Purchaser and is required to dispose the Subject Property to such Qualified Purchases and its entirety. If the Owner of the Subject Property desires to dispose of the Subject Property, the Owner shall notify the Agency in writing to that effect and shall provide such information as the Agency may reasonably require regarding the proposed Qualified Purchaser. Said writing (hereinafter referred to as the "Notice of Intended Sale") sale shall state the street address of the Subject Property, the Owner's full name(s), .the name(s) and existing address of the proposed Qualified Purchaser, and the terms of the proposed transaction, including the proposed purchase price, and documentation reasonably demonstrating to the Agency Executive Director that the proposed purchase price will result in a Affordable Housing Cost, and that the proposed purchaser qualifies as a Lower Income household. The Notice, together with the Agency-required information shall be personally delivered or deposited into the U.S. mail, postage prepaid, first class, certified mail, return postage prepaid, first class, certified mail, return receipt requested, addressed to: COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA 20 Civic Center Drive Santa Ana, CA 92701 Attn: Housing Division (2) Submission of Additional Information. Representatives of the Agency may at any time after the submission of the Notice of Intended Sale request the Owner or the proposed Qualified Purchaser to provide additional information regarding the proposed Qualified Purchaser and/or the proposed transaction for the disposal of the Subject Property, and the Owner and/or Qualified Purchaser shall supply such information as soon as practicable. (3) Assumption of Obligation to the A ency. Agency determines that the proposed purchaser is a Qualified Purchaser, and the proposed terms of sale make the sale price and "affordable purchase price", the Agency shall allow the disposition of the Subject Property subject to this Attachment. B. Notice of Default Under Deed of Trust or Mortgage and A enc~ Right to Enforce. The Owner covenants to cause to be filed in the office of the Recorder 11