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Exhibits The following exhibits are attached to this I'nclusionary Housing <br />Covenants Declaration and incorporated herein by this reference; <br />1. Exhibit 1: Property Description <br />2. Exhibit 2, Occupancy Recertification Farm <br />3. Exhibit 3: Notice of intent to Transfer <br />4. Exhibit 4: Assumption Agreement <br />S. Exhibit 5 Notice of Intent to fell <br />6. Exhibit 6: Notice of Extraordinary Sale <br />Extraordinary Sale means a sale of the incluslonafy Unit to a buyer who is not <br />an Eligible Purchaser, when an Eligible Purchaser has not been secured within <br />the timeframes required by this Inclusionary Housing Covenants Declaration, and <br />the City has opted not to exercise the City's Purchase Option within the <br />timeframes allowed pursuant to this Inclusionary Housing Covenants Declaration. <br />Extraordinary Sales Price means the gross sales proceeds generated by an <br />Extraordinary Sales executed under the terms included in Article 3 - Section III of <br />this Inclusionary Housing Covenants Declaration. <br />Fair Market Value means the value of the Incluslonary Unit under normal <br />circumstances in which the seller and the buyer freely negotiate the terms of the <br />transfer of ownership. The Fair Market Value must be established by a licensed <br />Real Estate agent based on three comparable properties, <br />Gross Household Income means all Income from whatever source from all <br />Adult Household members, which Is anticipated to be received during the 12- <br />month period fallowing the date of the determination of Gross Income. The <br />applicable sources of income are defined In California Code of Regulations Title <br />25 Housing and Community Development Section 6914. The definition includes <br />the following specific requirements: <br />1. Except as provided in subdivision (2), all payments from all sources <br />received by the head of Household (even if temporarily absent) and each <br />additional member of the Household who is not a minor shall be included <br />in the annual Income of a Household. Gross Income shall Include, but not <br />be limited to: <br />inclwionary Housing Coeonan[s Dodaration .�. Paget <br />City of Santa Ana January 2015 <br />25G -42 <br />