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Preference shall be given as follows: 1 persons displaced Within the Station <br />District shall be given an exclusive period of not less than fourteen 1 days to purchase <br />Affordable For -Sale Units, after the conclusion of the exclusive period pursuant to <br />subparagraph 1 above, households who live or work in Santa Ana shall be given an exclusive <br />period of not less than fourteen 1 4) days to ure a e Affordable For -Sale Units, and 3 ) after the <br />conclusion of the exclusive period pursti nt to subparagraph 2 the general public shall be <br />eligible to purchase Affordable For-Sale Units. The Agency shall provide the Developer with a <br />list of persons displaced within the Station District and their contact information. Separate lists <br />shall be maintained for each preference category. If a potential buyer claims a preference but <br />could not verify such preference, such purchaser shall be provided the same priority as inember <br />of the general public. <br />Pre -p rc ase counseling must be completed prior to the Closing of each <br />Affordable For -Sale Unit. <br />402.5 Income of Buyers. Prior to the sale of any Affordable For-Sale Unit, the <br />Developer eloper shall submit to the Agency Exccutive Director a completed income computation and <br />certification form, in such form as may be provided by the Agency. Gross income e and net <br />incoine of the household shall be determined in accordance with Health and Safety Code <br />Section 50093 and the provisions of Sections 6914 and 6916 of Title 25 of the California Code <br />of Regulations. The Developer shall obtain a certification froin each prospective Homebuyer <br />demonstrating that SLICII prospective Homebuyer is a Moderate Income Household ld and tweets the <br />eligibility requirements established for the Affordable or -Sale Emit and that such Affordable <br />For -Sale Emit will be trade available for purchase and sold at an Affordable Housing Cost to <br />such prospective Homebuyer. Not-withstanding anythi ng herein to the contrary, each prospective <br />Homebuyer shall be required to make a down payment of n not less than three percent (30/0) of the <br />purchase which down payment must be part of the net assets of the prospective Homebuyer <br />the tine of application, The Developer shall verify the income certification of the prospective <br />Homebuyer as set forth belo w. <br />The Developer shall verify the income of each proposed Homebuyer of the <br />Affordable For-Sale Units by at least one of the following methods s appropriate to the proposed <br />Homebuyer: <br />(a) obtain two (2) paycheck stubs from the }person's two (2) most <br />recent pay periods; <br />(b) obtain a true copy of an income tax return from the person for the <br />most recent tax year in which a return was filed; <br />(c) obtain an income verification certification from the employer of <br />the person; <br />(d) obtain an income verification certification from the Social Security <br />Administration and/or the California l epatiment of Social Services if the person receives <br />assistance from such agencies; or <br />55 <br />D 0 C SOC/ 14 00673 v 1 3120027 -0001 <br />