Laserfiche WebLink
between the types of default hereunder, including an "Ownership Default' and a "Maintenance <br />Default." The term "Ownership Default" means the failure Hoinebuyer to perform any action <br />or covenant required by the Affordable Housing Resale Restriction related to ownership, owner- <br />occupancy, lien priority, and restrictions on sale and resale of the Property subject to the notice <br />and opportunity to cure provisions set foilli herein, A default of any obligation secured by the <br />First Lien shall be a cross-default and also constitute an Ownership Default. The term <br />"Maintenance Def ulf' means the failure of Homebuyer to perform any action or covenant <br />required by Restriction relating to a "Maintenance Deficiency," including the ongoing upkeep, <br />maintenance, and use of the Property in decent, safe, sanitary, clean, and neighborly manner, <br />subject to the notice and opportunity to cure provisions set forth herein and expressly excluding <br />an Ownership Default). <br />"Develoi)ei4" means:. <br />"First L ie " ni ean s the lien of the in stitution mal inn. the purchase money mortgage to a is <br />to Hom b Ayer for the u rcha e of the Property. <br />" inebuj�ei *" means the person or persons set forth in the first paragraph of this <br />Restriction, and their successors and assigns. <br />"Legul DescrilVion " ineans the legal description of the Property which is attached hereto <br />as Attachment No. I and incorporated herein, <br />"M r w Income" and "Moi-lerute Income ffouseho ls" means moderate income <br />households as defined in Health & Safety Code Section 50093. <br />"Notice of hiteid to Tiwnsfer" means the Notice of Intent to Transfer attached hereto as <br />Attachment No. 2 and incorporated herein by reference. <br />"Pertnitted heansfer" ine ns any Transfer which is permitted pursuant to Section <br />hereof. <br />" r,oh ibited Trwisfeil" means any ``ran sfer whi h is not perm itted pursuant to Section <br />hereof, <br />"Pr ertil s means that certain real property located at the street address set forth ill <br />Recital A and legally described in the Legal Description. <br />"Putec i-i i -eeme r " means that certain agreement pursuant to which Honwbuyer has <br />agreed to purchase the Property from the Developer. <br />"Reimbursement Agr emen " ineans. the Reimbursement Agreement to be executed by <br />Horn buyer in favor of the Agency, its the form attached hereto as Attachment No. 4 and <br />incorporated herein. <br />"Request for Approwl of i• 'r -cans} r e" means the Request for Approval of <br />Proposed Transferee attached hereto as Attachment No. 2 and incorporated herein. <br />EXHIBIT D-3 TO ATTACHMENT N, l I <br />Affordable Housing Resale Restriction <br />Doi 400673Nr 131200272-0001 <br />