Laserfiche WebLink
the Affordability Periad, upon payment of the contingent E~~rity Par~icipatiar~ Arriaunt as set <br /> f~l`tll in eetian l~ereaf, <br /> Ver~f"rcatiur~ of ~rospeeti~re buyer's ~~reoiY~e, ~t~ order to verify the <br /> ~rospecti~e Buyer''s staters as a Moderate ~neor~re Household, tl~e Har~eb~ryer shall s~rbrr7it or• <br /> cause the pr•opased buyer to s~rbrrrit to tl~e Agency the identity of the pr;opaed ~u~er and <br /> adeq~rate infarrnatior~ evidencing the income and holrseliaid sire of the pr•opaed Blryer, <br /> a~ brass income and r~et ir~cor~re of tl~e praspeeti~e ~tryer's <br /> ho~rsehaid shall be deter~mir~ed in accar'dance ~~rth Health Safety bode ectron 5Q09 and tl~e <br /> pr•a~rrsron of ectrans i ~ and ~9 ~ of Trtle of the alrfarr~ra fade of Regulatrans, Tl~e <br /> praspecti~?e Buyer shall subrr~rt a cer•tl~catror~ that such Buyer is a ~Vladerate ~r~corne ~ause~iold <br /> and meets tl~e elrgrbrlrty re~uirernents established far• the Praper~y and that the Property ~~i~~ be <br /> sold at an Affordable Ho~zsing host by Ho~nebuyer to such l~raspecti~e B~r~?er, <br /> ~i} ~ncorne infarrrratior~ shall be srrbr~itted together with the <br /> r~atice of proposed safe ir7 accordance ~~itl~ Sectior~ ~ nat less than t~xirty X30} days pr•rar to tl~e <br /> aper~ir~g of escrow far{ the pro~ased sale ar~d shall ir~clude origir~al ar tr~rre copies of pay stubs, <br /> ir~corne tai records ar• otl~er• fir~anc~al dacurnents in ar•der that tl~e Agency may rievie~v the <br /> llo~rsel~ald ir~corn of the pt•oposed B~ryer to deterrnrrie ~~~l~etaer tl~e proposed B~ryer is a 11~~oderate <br /> ~rrcorrre Hausel~old and ~vhetl~er the Property is to be ~rar~sferr•ed to s~rcl~ B~ryer• at an Affarda~le <br /> Hatring Cast, If tl~e Agency is unable to veri~~ Buyer's ir~cor~~e as prodded l~ereirl rior~ to the <br /> P <br /> proposed sale, then the Buyer's irlcorr~e shall be deemed to exceed tl~e rrraxi~rr~rn~ allowable <br /> ir~corne li~rrit fora eligible Persar~s arrd Families, <br /> Affordable Ho~rsi~~g Calf, Tl~e Property shall be resold by tl~e <br /> Hon~ebuyer to tl~e Buyer at are "Affnrdable ~o~rsing Cast" tllat slxall r~lean the prrcrn for' <br /> ader~ate Households and shall be calculated p~rr~suar~t to Califorr~ia health safety Code <br /> ectior~ aa5~,~, tl~e irnplernenting regulations of ectior~s ~9~D, X924 and ~9a of Title of <br /> the Califar~nia bode of Rerilatians for ~laderate income Housel~alds, <br /> Release of A~~ordn~i~i~y, Af~er• the affordability Period Ter•minatian Date, tl~e <br /> Property shall no longer be strh~ect to the affordability recluiren~ent of this Agr•eerner~t ar~d the <br /> Affordable l~ausir~g Resale Restrictiar~, ar~d tl~e Ha~neb~ryer• nay sell ar trar~sfer• tl~e Property to <br /> ar~y persarr, regardless aftl~e persat~'s ir~car~re stat~is, at tl~e Pr•opex~ty's fair rnarl~et ~l~re. <br /> 6, ~IaII1teI~c~11C~ of ~~'opel"ty. The Dor~~eb~ryer shall rnarritarn tl~e lnteriar of tl~e <br /> pr•aper;ty ~a} its a clean, safe ai~t~ pa~eentable tnar~r~er, fib} eot~rster~t ~~rltl~ carnrrr~rnrty standards, <br /> ~c~ in a manner ~~l~ich ~~ill uphold the vl~re of the Propet•ty, {d~ ~rl accordance itl~ tl~e <br /> t~ait~tenance r•egtrir•er~er~ts of tl~e Affordable Housing Resale Restr•ictrorl, fie} in accordance ~~itl~ <br /> the Sar~ta Arla N~~rnicipal bode and the uniform Ha~rsrr~g ~ade~ ar~d ~f~ rri accordar~ce ~~ith any <br /> at~d all co~~er~ants and agreements established. by rry lrarnea~~ner's assacratron ol• atl~er <br /> reg~z~atary entity recognised by area property o~~neris. Tl~e Hameb~ryer shall not allo~~ the <br /> Property to acelrrrrrrlate debris, ar alla~v inoperable or aar~dor~ed vehicles orr the Pr~aper•ty, or• <br /> allow ar~y other ~rr~sigl~tly ar• dar~er•o~rs conditions arz the Property, Tl~e co~enar~ts far tl~e <br /> maintenance of the Praper~ty shall run ~~itl~ the Property and shall r•err~air~ in effect until tl~e <br /> <br /> Affardabitit Per}iod Terrninatian Date. The Hameb~r er and tl~e A enc sl~alZ execrrte and <br /> ~ g y <br /> ATTACHM~T NDf l l M~ D <br /> Farm of Horrrebrryer ~,oan Agreement <br /> <br /> Da C s0 ~O~b73~?1 ~i~~~~?~-~~~ ~ <br /> t <br /> <br />