25C - AGMT HOMEBUYER ASSISTANCE - Laserfiche WebLink

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iii. when the Property is not properly being used as the Borrower's principal residence; iv. the City discovers that Borrower knowingly or willfully made a misstatement or misrepresentation pertaining to Borrower's status, as an Eligible Person or Family; or, V. an uncured default in performance or breach by Borrower of any provision of this Agreement, the Promissory Note, the;City Deed. of Trust or the Affordability Covenants. t , (d) Excess Refinancing Proceeds. In the event that. -the' First Mortgage, Loan is refinanced, any Excess Refinancing Proceeds shall be paid out'in accordance•, with City policy. 5. Nondiscrimination. There shall be no discrimination against or segregation of any person, or group of persons, on account of race, colof,-religion, sex, disability, marital status, national origin or ancestry in the sale,\lease; sublease,, transfer, use, occupancy, tenure or enjoyment of the Property, or any part'thereof,'norshall Borrower or any person claiming under or through Borrower establishyor permit any such practice or practices of discrimination or segregation with reference ;to the selection, location, number, use or occupancy of the Property` `,The provisions of this section shall be set forth in the Agreement Containing Covenants recorded against,the Property. 6. Income Requirement. a. Borrower acknowledges the City's intent that the Property remain available to moderateeincome'or lower persons or families whose household annual income does not exceed 120%. of the, area median income for the City, adjusted for family at affordable housing cdst,,for'the lohgest feasible time, but in any event not less than e Forty Five (45) years from thdate.of recording of the Affordability Covenants, provided that the Property'remains habitable. b� 'Borrower'represents and warrants to the City that the information relating to Borrower'`s household income that has been provided by Borrower to the City to verify Borrower's eligibility for the City Loan is true, correct and complete as of the "date such information was provided to the City and as of the date of this Agreement. If any 'such,information,changes prior to the close of escrow for the purchase of the Property, Borrower'shall promptly notify the City of such change. Borrower acknowledges that the City is relying upon the representations made by Borrower with respect to, Borrower's household income and that the City would not enter into this "Agreement if Borrower's household annual income were in excess of 120% of the area N,median income for the City, adjusted for family size, as of the date of this Agreement. As of June 9, 2017 120% of the area median income for the City of Santa Ana, adjusted for family size (subject to change approximately annually) was as follows: 5 25C-11