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EXHIBIT 1 Contract of Sale Before commencement of monthly homeownership assistance payments, a member or members of the family must enter into a contract of sale with the seller of the unit to be acquired by the family. The family must give the PHA a copy of the contract of sale. The contract of sale must: • Specify the price and other terms of sale by the seller to the purchaser; • Provide that the purchaser will arrange for a pre -purchase inspection of the dwelling unit by an independent inspector selected by the purchaser; • Provide that the purchaser is not obligated to purchase the unit unless the inspection is satisfactory to the purchaser; • Provide that the purchaser is not obligated to pay for any necessary repairs; and • Contain a certification from the seller that the seller has not been debarred, suspended, or subject to a limited denial of participation under 24 CFR part 24. • A contract for the sale of a unit not yet under construction must meet all above requirements, and requirements below. Commencement of construction in violation of the below requirements voids the purchase contract. The purchaser is not obligated to purchase the unit unless an environmental review has been performed and the site received environmental approval prior to commencement of construction in accordance with 24 CFR 982.628; and The construction will not commence until the environmental review has been completed and the seller has received written notice from the PHA that environmental approval has been obtained. Environmental approval may be conditioned on the contracting parties' agreement to modification to the unit design or to mitigation actions. Disapproval of a Seller In its administrative discretion, the PHA may deny approval of a seller for the same reasons a PHA may disapprove an owner under the regular HCV program [see 24 CFR 982.306(c)]. Page 15-29 Administrative Plan 7/l/2025 City Council 5 — 667 7/15/2025