INTEGRITY BUILDERS & ASSOCIATES INC. (S A M CONSTARUCTION & BUILDER CORP.)-2014

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3. Maximum Sales Price. Owner covenants and agrees that the Affordable Unit shall be sold at no more than the Affordable Housing Cost to Low Income Household. 4. Selection of Buyer. Owner shall be responsible for the selection of buyers for the Affordable Unit in compliance with the criteria set forth in paragraph 5 of this Agreement. Owner shall develop a plan for the marketing of the Houses and the selection of buyers of the Affordable Unit, consistent with California Redevelopment law. Such marketing plan shall be submitted to the City for its reasonable approval, and Owner shall carry out the marketing in accordance with such approved plan. Preference shall be given to buyers who have been displaced by redevelopment activities by City in the implementation of its redevelopment plans. Owner covenants and agrees that no sales of Affordable Unit shall be made to any person or family related, within the fourth (4th) degree of consanguinity, to Owner or to any member, shareholder or partner of Owner, or anyone related by blood or marriage to any such shareholder or partner; provided, however, that the foregoing shall not prevent the sale of the Affordable Unit to an employee of Owner who is otherwise unrelated to any member, shareholder or partner of the Owner provided such employee otherwise meets the requirements set forth in this Agreement for the sale of an Affordable Unit. 5. Income of Buyers. Owner shall, upon execution of this Agreement, prepare and submit to the City for review and approval, which shall not be unreasonably withheld, a marketing plan for prospective buyers of the Affordable Unit. Based upon the marketing plan, Owner shall prepare and keep a written list of prospective buyers for the Affordable Unit. No later than ninety (90) days before the Affordable Unit is ready for occupancy, Owner shall contact all persons or families on the list and ask each to submit a income computation and certification form; provided, however, that City and Owner shall cooperate to determine terms and conditions under which buyers may pre - qualify to purchase an Affordable Unit. As early as practicable, but at least sixty (60) days prior to the sale of the Affordable Unit, the Owner shall submit to City a completed income computation and certification form signed by the prospective buyer under penalty of perjury, in such form as may be provided by City for each prospective buyer, together with all information it has reviewed and considered in its selection process (the "Notice of Intended Sale "). City shall have ten (10) working days to approve or reject the Notice of Intended Sale. City's decision shall be final. For each buyer approved by the City, Owner shall use its best efforts to provide and cause, a true and correct copy of the complete lender's package shall be submitted to the City at the time of submission to the prospective lender, for City confirmation of income status. The lender's package submitted to the City shall be a true and correct copy of the complete package submitted by the unit's buyer to the prospective lender. City shall complete its review of the complete lender's package within fourteen (14) working days. Owner shall and hereby does covenant that no sale shall be made of the Affordable Unit unless and until the City has issued a certificate approving that the proposed buyer qualifies as a Low Income Household. In the event a sale is made in violation of the terms of this Agreement or false or misleading statements are made in any documents submitted to the City, the City shall have the right to file an appropriate action at law or in equity unless Owner substitutes another otherwise qualifying unit as the Affordable Unit. In the event that Owner