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"Request for Not " means the qu t for Notice of Default attached hereto as <br />Attachment No. 3 and incorporated herein. <br />"Restriction " means this Affordable Hou si ng Resale Restriction. <br />"S(iles Pitice mean s the stun to be paid by a Transferee for the Transfer of the Propelly, <br />" i, ansf r" shall mean n any sale, assignment, conveyance, lease or transfer, voluntary or <br />involuntary, of any interest in the Property. Without fliniting the generality of the foregoing, <br />Transfer shall include i transfer by devise, inheritance or intestacy to a party who does not <br />meet the definition of a Moderate Income Household; (ii) life estate; (iii) creation of a joint <br />tenancy interest; iv a gift of all or any portion of the Property; or v any voluntary conveyance <br />of the Property. Transfer shall not include transfer to a souse in a dissolution proceeding. <br />4 "Tr(i n fer " shall mean any natural person or entity who obtains ownership or <br />possessory rights in the Property pursti nt to a Transfer. <br />Restrictions on Sale of i•o erty. Homebuyer covenants and agrees that during <br />the Affordability Period, each subsequent resale of the Property by the then-owner thereof shall <br />be to a Moderato Income Household at an Affordable Housing Cost; provided, however, that <br />Horn eb yer, in Homebuyer's sole discretion, may elect to transfer the Property at a price in <br />excess of an Affordable Housing Cost during the Affordability Period thereby causing all <br />acceleration tinder Section Lf. of the Agreement, in consideration for Hoineowner's payment to <br />Agency of the Contingent get t city Participation Amount as set forth its Section 3 of the <br />Agreement. <br />3. Honiebuyer's Representations and Warranties as to the Sale of the Ptlopert ' <br />to oinebu i% Hot ebuyer represents and warrants to Agency that the financial and other <br />information which Homebnyer has provided to Agency with respect to Homeb yer's incorne and <br />the purchase price of the Property was true and correct at the time such information was <br />provided, and remains true and correct as of the Date of this Restriction. <br />4. Permitted Sales of the Pi #oper ty. Agency hereby permits sales of the Property to <br />proposed Transferees who are Moderate Income Households, and are approved in accordance <br />with this Section 4, provided the Sales Price does not exceed an. Affordable Housing Cost to such <br />proposed Transferee ("Permitted Transfers"). In the event that Homebuyer desires to Transfer <br />the Property during the Affordability Period, prior to the Transfer the owner shall notify Agency <br />by delivering a Notice of Intent. to Transfer to Agency, which shall indicate the identity of the <br />proposed Transferee wino desires to purchase the Property, whether the purchaser is a Moderate <br />Income Household, and whether the sales price is at an Affordable Housing Cost. In addition to <br />Homebuyer's and the proposed Transferee's delivery of the Notice of Intent. to Transfer, the <br />following procedure shall apply: <br />a. Notice to Agency. Hot ebtiyer shall send the Notice of Intent to Transfer <br />to Agency at the address set forth in Section 24. <br />Qualification of Proposed ` x•ansf'eree. The proposed Transferee shall <br />provide Agency with sufficient information its the forin provided by Agency including without <br />EXHIBIT D-4 TO ATTACHMENT No. I l <br />Affordable Housing Resale Restriction <br />Dosoll 40 0673Nr 131200272 -0001 <br />