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The Developer covenants and agrees that all the Affordable For -Sale Units in all respects shall be the same /comparable in terms of quality of construction, amenities, materials, design, etc. as the Housing Units is of the same size and model that are designed, constructed, and sold on the open market. (b) The Agency ackno l e d ges that a buyer of a market Housing Unit may elect and pay for upgrades or improvements that are not included i n the purchase price for a Housing Unit of the same size and model and thus not necessarily included in a corresponding Affordable For-Sale Unit, but nothing in the foregoing acknowledgment modifies or lessens the Developer's obligation to provide first quality Affordable For-Sale Units as described above. 402.2 Maximum Sales Prices. Developer covenants and agrees that each of the Affordable For-Sale Units shall be sold at an Affordable Housing Cost. The Developer acknowledges and agrees that such calculation may require it to adjust the sales price for each Affordable For -Sale Unit in order that the cumulative sums of the Homebuyer Assistance Loan, Homebuyer's down payment, and proceeds of first lien are adequate to purchase such unit in fight of the statutory requirements that the Monthly Housing Cost or payment for such unit does not exceed the Affordable Housing Cost as calculated as of the anticipated date of sale of each Affordable For -Sale Unit. 402.3 Affordable Housing Res ale Restriction. The Homebuyer of each Affordable For-Sale Unit shall be oblig ate d to enter into and execute the Homebuyer Doan Agreement, rho ch includes the requirement to pay a Contingent Equity Share Amount if the Affordable For -Sale Unit is not .gold to Eligible Persons and Families, and such other documentation as the Agency reasonably requires. The Homebuyer Loan Agreement shall provide for a forty-five 4 year affordability period the "Affordability Period"'), and shall permit the sale of the Affordable For Sale Unit for a price in excess of that otherwise pen it ted by the Homebuyer Loan Agreement prior to the end of the Affordability Period upon the payment of are equity sharing amount to the Agency which permits the seller to retain a portion of the sale proceeds. 402.4 Selection of Buyers; Marketing and Outreach Plan. The Developer shall provide the Agency i tai a copy of its Marketing and Outreach Flan which shall set forth hover the Developer plans to provide interested households with information about the Affordable For-Sale Units. The Developer shall be solely responsible for the selection o f qualified pu rc h as ers of the Afford able For- S ale Tani ts. D eveloper shall en su re th at there will b e homeb u yer education in accordance Sri th Section 1 .4 ii hereof. The goal of the Marketing and Outreach Plan is to insure that i targeted marketing of Affordable For-Sale Units is provided to persons with the priorities set forth below, and (ii) the marketing of Affordable For-Sale Units to the general public be as broad and inclusive as possible in order to inform and attract as many prospective buyers as possible. If the Developer reasonably expects that the number of qualified purchasers of the Affordable For Sale Uai is will significantly exceed the supply, the marketing plan may include a lottery drawing with respect to the Affordable For-Sale Units, which shall be open to the public. The Outreach and Marketing Plan and the associated applicant selection procedures will be targeted to purchasers regardless of race, co l or, religion, sex, di s abili ty status, familial status or national origin. 4 D O O 1 400 673 Y 14 /200272 -000 l