80A - JOINT PH - TRANSIT ZONING CODE, FINAL EIR, SPECIFIC PLAN ETC. - ORIGINAL PACKET PROVIDED TO COUNCIL

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Transferee is a Moderate Income Household, and the purchase price is at an Affordable Housing Cost. c. Certificates from Parties. Homeh yer and proposed Transferee each shall certify In writing, in a form acceptable to Agency, that the Transfer shall he closed 'in accordance with, and only with, the terms of the sales contract and other documents submitted to and approved by Agency and that all c ons 'deratio delivered by the proposed Transferee to owner* has been fully disclosed to Agency. The written certificate shall also include a provision that in the event a Transfer is made in violation of the terms of this Restriction or false or misleading statements are made in any documents or cefftificate submitted to Agency for its approval of the Transfer, Agency shall have the right to file an action at law or in equity to make the patties terminate and/or rescind the sales contract or declare the sale voice notwithstanding the fact that the Transfer may have closed and become final as between H meh yer and Tra sferce. . Written Consent of Agency Require a 'o Transfer, During the Affordability Period, the Property, and any interest therein, shall not be conveyed by any Transfer except with the express written consent of Agency, which consent shall be given only if the Transfer is in accordance with the provisions of this Restriction. . This provision shall not prohibit the encumbering of title for the sole purpose of securing financing of the purchase price of the Property. e. Notice of Prohibited Transfer. Within twenty (20) days after; receiving notification of a proposed Transfer in accordance with Section 4a., Agency shall determine and give notice to Homeh yer as to whether the proposed Transfer is a Permitted Transfer or Prohibited Transfer, or whether* the Transfer would cause an acceleration under the Note under Section I .f. of the Agreement, t, i which case, upon Hoy eh er's payment of the Contingent Equity Pailicipatio . Amount as set forth in Section 3 of the Agreement such Transfer would be deemed a Permitted Transfer. In the event that the proposed T ransfer is a Prohibited Transfer, such notice to Homeh yer shall specify the nature of the Prohibited Transfer. If the violation is not corrected to the satisfaction of Agency within tern (10) days after the date of the notice, or within such further time as Agent determines is nece s y to correct the violation, Agency may declare a Default under this Restriction. Upon the declaration of a Default., Agency may apply to a court of competent jurisdiction for specific performance of this Restriction, for are injunction prohibiting a proposed sale or Transfer in violation of this Restriction, for a declaration that the Prohibited Transfer is void, or for any such other relief as may he appropriate, ATTACHMENT No. 12-3 D OCSOCI 1400673 v13/200272 -0001