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"'Request for Notice" means the Request for Notice of Default attached Hereto as Attachment Igo. 3 and incorporated herein. " es c on" means this Affordable Housing Resale Restriction. "`Vales Price"' means the sum to be paid by a Transferee for the Transfer of the Property. "Transfer" .shall mean any sale, assignment, conveyance, lease or transfer, voluntary or involuntary, of any interest in the Property. Without limiting the aenerality of the foregoing, Transfer shall include i a transfer by devise, inheritance or intestacy to a party who does not meet the definition of a Moderate Income Household; (ii) a life estate; (iii) creation of a joint tenancy interest; iv a gift of all or any portion of the Property; or v any voluntary conveyance of ' the Property. Transfer shall not include transfer to a spouse in a dissolution proceeding. "Transferee" shall me are any natural person or entity who obtains ownership or possessory rights in the Property pursuant to a Transfer. Restrictions on Sale of Property. Ho me b u yer covenants and agrees that during the Affordability Period, each subsequent resale of the Property by the then-owner thereof shall be to a Moderate Income Household at an Affordable Housing Cost; provided, however, that Homehu er, in H mebu er'.s sole discretion, may elect to transfer the Property at a price in excess of an Affordable Housing Cost during the Affordability Period thereby causing an acceleration under Section L f. of the Ao,,rTeemen t, in consideration for Homeowner's payment to Agency of the Contingent Equity Participation Amount as set forth in Section 3 of the Agreement. H mehuyer's Representations and Warranties as to the Sale of the Property to Dome huger. Homebu firer represents and warrants to Agency that the financial and other information which Homeh u er has provided to Agency with respect to Ho meh u er' s income and the purchase price of the Property was true and correct at the time such information was provided, and remains true and correct as f the Date of this Restriction. 4. Permitted Sales of the Property. Agency hereby permits sales of the Property to proposed Transferees who are Moderate Income Households, and are approved in accordance with this Section 4, provided the Sales Price does not exceed an Affordable Housing Cost to such proposed Transferee ("Permitted Transfers"'). In the event that Horneh u yer desires to Transfer the Property during the Affordability Period, prior to the Transfer the owner shall no of Agency by d eliverincr a Notice of Intent to Transfer to A gene , which shall indicate the identity of the proposed Transferee who desires to purchase the Property, whether the purchaser is a Moderate Income Household, and whether the sales price is at an Affordable Housing Cost. In addition to Homeh u er } s and the proposed Transferee's delivery of the Notice of Intent to Transfer, the following procedure shall apply: a. Notice to Agency. Homehu er shall send the Notice of Intent to Transfer to Agency at the address set forth in Section 24. be Qualifleation of Proposed Transferee. The proposed Transferee shall provide Agency with sufficient information in the form provided by Agency including wi thou t EXHIBIT D-4 TO ATTACHMENT N. l I Affordable Housing Resale Restriction DOC S OCI 14 0067 3 v 1 4120027 2-0001