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Permitted Sale <br />1-A, Notice of Permitted Sale: If an Owner desires to sell the InGlusionary Unit, <br />the Owner shall provide City with a Notice of Intent to Sell In the form <br />attached as Exhibit 5: <br />Within fifteen (15) business days after receipt of such Notice, City shall <br />provide the Owner With the Affordable Sales Price and the maximum <br />incomes of Eligible Purchasers, <br />2. The Owner shall market the Incluslonary Unit to Eligible Purchasers for a <br />period of not less than ninety (90) days f ro m providing the Notice, <br />3 If the Owner Is unable to locate an Eligible Purchaser who is ready, willing <br />and able to enter Into a purchase agreement for the Incluslonary Unit <br />within the 90-day period: <br />a. The Owner must demonstrate to the Incluslonary Program Director <br />that all reasonable efforts were made to diligently market the <br />Inclus[onary Unit. <br />lb. If the Inclus[onary Program Director determines that adequate <br />marketing efforts were pursued, the City shall have 30 days from <br />after the expiration of the period to exercise City's Purchase Option <br />under Article 3 - Section 11. <br />e. If the City does not exercise the City's Purchase Option, the Owner <br />may sell the Inclusionary Unit to a buyer is not an Eligible <br />Purchaser under the Extraordinary Sale terms identified in Article 3 <br />- Section I 11. <br />I-B. Inspection and Repair Costs: Upon receipt of a Notice of Intent to Sell, <br />the City shall have the right to inspect the Inclusionary Unit to determine <br />whether any violations of applicable laws or ordinances exist. <br />1. The City may hire a third party to undertake the inspection. <br />ineiuslona Page 17 <br />city of SaRta Ma 11jivary 2015 <br />25G-53 <br />