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by selling or otherwise conveying the Property to a Moderate Income Household <br />at an Affordable Housing Cost in strict conformity Program requirements. This <br />may restrict the persons to whom we may sell the Property, and may result in <br />sales price which is less than the fair* market value of the Property. <br />For a forty-five year period, the Property may only be transferred to <br />Moderate Income Household at an Affordable Housing Cost and the Property <br />must be and remain owner- occupied, In my o ur sole discretion, hive may elect to <br />case an acceleration under the Mote by tra nsferring the Property at a price it <br />excess of an Affordable Housing Cost in consideration for paying the Agency the <br />Contingent Equity Participation Aniour t. <br />After the forty -five 4 year term of the Homebuyer Assistance Loan, I Xve may <br />sell the Property to any person regardless of their income at the Property's fair <br />market value. <br />Uwe have a right to cancel or rescind this loan at any time prior to midnight on the <br />third business day after the Loan Agreement is signed by sending a notice of <br />my/our decision to rescind or cancel Homebuyer Assistance Loan to: <br />Community Redevelopment Agency <br />of the City of Santa Ana <br />20 Civic Center Plaza <br />Santa Ana, California 92701 <br />Attention: Agency Executive Director <br />• Uring the term of Homebuyer Assistance Loan, I xve intend to continuously <br />occupy the Property and I Nve shall not rent or lease the Property. <br />I Ave may be responsible for paying an appraisal fee in connection with my Our <br />sale, transfer, or refinance of the Property, or if the Note becomes due and <br />payable because I Nve am/are in default of any provisions of the Loan Agreement, <br />Agency shall not be held responsible for any costs associated with the home 1Avc <br />purchase with such assistance including, but not finnited to, any loan fees or <br />charges, any charges for appraisals, or any escrow costs or other costs relating to <br />the transfer of the Property. <br />Agency cannot ensure that information provided by or on my /our behalf will be <br />kept confidential. <br />• <br />Agency shall not be responsible for the selection of a home, the selection of a <br />lender providing funds assisting in the purchase of the home, providing <br />information concerning other public or private sources of loans, or the <br />competitiveness of the terms of the Program. I Nve assure all responsibility for <br />deters ining whether Ise will inform myself /ourselves as to the availability and <br />terns of other public or private loans. <br />EXHIBIT D-2 TO ATTACHMENT NO, l l <br />To Affordable Homebuyer Loan Agreement <br />Program Disclosure Statement <br />ent <br />Do so / 1400673 v 13/200272 -0001 <br />