Laserfiche WebLink
limitation, a certification to the income and family size of the proposed Transferee, for <br />Agency to determine if the proposed Transferee is a Moderate Income Household, and the <br />purchase price is at are Affordable Housing Cost. <br />el Certificates from Parties. Homebuyer and proposed Transferee each <br />shall certify in writing, in a form acceptable to Agency, that the Transfer shall be closed in <br />accordance with, and only with, the terms of the sales contract and other documents submitted to <br />and approved by Agency and that all consideration delivered by the proposed Transferee to <br />owner has been fully disclosed to Agency. The written certificate shall also include a provision <br />that in the event a Transfer is made in violation of the terms of this Restriction or false or <br />misleading statements are made in any documents or eerlifieate submitted to Agency for its <br />approval of the Transfer, Agency shall have the right to fire an action at law or in equity to make <br />e <br />the parties terminate and /car rescind the sales contract and/or declare the sale void <br />notwithstanding the fact that the Transfer may lave closed and become final as between <br />Homebu er and Transferee, <br />d, Written Consent of Agency equir Before Transfer. During the <br />Affordability Period, the Property, and any interest therein, shall not be conveyed by any <br />Transfer except with the express written consent of Agency, which consent shall be given only if <br />the Transfer is in accordance with the provisions of this Restriction. This provision shall not <br />prohibit the encumbering of title for the sole purpose of securing financing of the purchase price <br />of the Property, <br />e. Notice of Prohibited Transfer. Within twenty 2 days after receiving <br />notification of a proposed Transfer in accordance with Section 4a., Agency shall determine and <br />give notice to Horrrebu er as to whether er the proposed Transfer is a Permitted Transfer or <br />Prohibited Transfer, or whether the Transfer would ease an acceleration of the Note under <br />Section IS of the Agreement and, in which ease, upon Homebuyer"s payment of the Contingent <br />Equity Pailicipation Amount as set forth in Section 3 of the Agreement SLIch Transfer would be <br />deemed a Permitted Transfer hereunder. In the event that the proposed Transfer is a Prohibited <br />Transfer, such notice to Plomebu er shall specify the nature of the Prohibited Transfer. if the <br />violation is not corrected to the satisfaction of Agency within ten (1 0) days after the date of the <br />notice, or within such further time as Agency determines is necessary to correct the violation, <br />Agency may declare a Default under this Restriction. Upon the declaration of a Default, Agency <br />may apply to a court of competent jurisdiction for specific performance of this Restriction, for an <br />injunction prohibiting a proposed sale or Transfer its violation of this Restriction, for a <br />declaration that the Prohibited Transfer is void, or for any such other relief as may be <br />appropriate. <br />L Deliver-y of Documents. Upon the close of the proposed Transfer, <br />r, <br />I ornebu er and Transferee, as applicable, shall provide the Agency with a copy of the final sales <br />contract, settlement statement, escro w instructions, all certificates required by this Section 4 and <br />any other documents Agency may request. <br />EXHIBIT D-5 TO ATTACHMENT N. l l <br />Affordable Housing Resale Restriction <br />D 0 11 400673 v 1 3/200272 -0001 <br />