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STATION DIST DDA WITH CRA
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STATION DIST DDA WITH CRA
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7/29/2020 4:28:28 PM
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9/27/2010 1:29:49 PM
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between th types of default hereunder* including are "'ownership Default!' and a "Maintenance <br />D efau 1 t. " The term "Ownership wnershi Default" means the failure of Hornebuyer to perform any action <br />or covenant required by the Afford ab l Housing Resale Restriction related to ownership, owner- <br />occupancy, lien priority, and restrictions on sale and resale of the Property subject to the notice <br />and opportunity to cure provisions set forth herein. default of any obligation secured by the <br />First Lien shall be a cross-default and also constitute an Ownership Default. The term <br />"Maintenance Default" mans the failure of Hom bu firer to perform any action or covenant <br />required h s trio ti n relating to a "Maintenance Deficiency," including the ongoing upkeep, <br />maintenance, and use of the Property in decent, safe, sanitary, clean, and neighborly manner} <br />subject to the notice and opportunity to cure provisions set forth herein (and expressly exc1 ud i n g <br />an Ownership Default). <br />"De v l p r" means ` # a <br />"First Lien" means the lien of the institution making the purchase money mortgage loan <br />to Homebuyer for the purchase of the Property. <br />"Ho b r" means the person or persons set forth in the first paragraph of this <br />Restriction, and their successors and assigns. <br />" "Legal Description"' m ans the legal description o f the Property which is attached hereto <br />as Attachment Igo. 1 and incorporated herein. <br />"`Moderate Income" and "Moderate Income a o s o l " means moderate income <br />households as defined in Health & Safety Code Section 50093. <br />"'Notice of Intent to Transfer" means the Notice of Intent to Transfer attached hereto as <br />Attachment o. 2 and incorporated herein by reference. <br />"Permitted Transfer" means any Transfer which is permitted pursuant to Section 4 <br />hereof. <br />"Prohibited Transfer" means any Transfer which is not permitted pursu ant to Section <br />hereof. <br />"'Property" means that certain real property located at the street addrs s set forth in <br />Re ital A and legal l y des cri bed in t he Legal De stripti n. <br />" "Purchase Agreem erz t--' means that cert ain a g re emen t pursuant to which Homebufirer has <br />agreed to purchase the Property from the Developer. <br />"Reimbursement l re n t" means the Reimbursement Agreement to be executed h <br />Horn hu er in favor of the Agency, in the form attached hereto as Attachment Igo. 4 and <br />incorporated herein. <br />""Request for Approval of ro a Transferee" means the Request for Approval of <br />Proposed Transferee attached hereto as Attachment Igo. 2 and incorporated herein. <br />EXHIBIT D-3 TO ATTACHMENT NO. 11 <br />Affordable Housing Resale Restriction <br />D OC S O 14 00673 v 14/200272 - 1 <br />
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