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Ha?nebuyer• Loan A?•eet?er?t, ?'he pr•ior•ity of such encumbrance shall ?be j??nriar ar?d subordinate <br />only to the approved first lien as further provided in Sectiat? 3I5.5. <br />31?,? D??buz?se???en# of Ha???ebye?• Assist ace Load; oriditrarls P??ccee??? <br />?'i?e??eto; ?eveluper's max;??eting, Disclosu??? a?Yd Housixxg ou??se?iiY, Ire con??ectia?a ?vith <br />tl?e I??•st sale of each Affordable For•?Sale Unit, tl7e fill gaunt of the proceeds of each <br />Han?ebuyer Assista??ce Laat? shall be disbursed ?y tine Agency into the escro?v established by tl?e <br />Developer and the Horne???yer folk such rnrtral s.le at?d conveyance of eac11 applicable <br />For-Sale Unit to the Hat?reb?ryer, Disburserne??t shall occur• an demand of the escro?v off ?cer?, but <br />tl?e Agency shall be p?•avided riot less than tet? {10} days ??atice of the stirnated closing date, and <br />all conditions precedent to the Age??cy's obliatiar? to disburse s?rcl? mo??ies shall lave been <br />satisfied by Developer ?at?d tl?c applicable Har??ebuycr? pr•ior? to escrow officer's de?t?and, Tl?e <br />proceeds shall ar?ly be expended ar?d pall to find a portion of tl?e applicable Hotr?ebuyer's casts <br />of acquisition of the Affordable For?ale Unit ire order4 to take such uart a??allable at ate <br />Affordable ?o??sin Cost. <br />?a} The Agency's obligation to disburse proceeds of the Hatrrebuyer <br />Assistance Loan is expressly canditia??ed ??pon a??d will occ??r as soon as practicable after each <br />Ha???eb??yer's execution at?d delivcr?? of tl?e Hameb??yer• Laan Ag?•eer?rent including any other <br />docutrrents req??ired thereunder} ar?d ire cor?fo?•mity with applicable lames acid xegr?latiot?s and all <br />submittals provided thererrtlder, acid such disb??rsemerrt shall occ?u• co??c??rrex?tly ?vitl? tl?e <br />?•ecordatian of all dac??tner?ts ?•ecl??ix•ed to be recorded at closix?g p???•uant to the Hot?eb??yer• Laat? <br />Ag?•een?ent and attachrrrer?ts tl?ereta, a??d close of escrow for dispasitiot? of such Affordable For_ <br />dale Unit pl?rs??a??t to the terms hereof, <br />?b? Develaper• shall be responsible at its sole cast a?xd expense far <br />?r?arketing, hausrrig cout?seling, disclasur+es, and sale for• a??d related directly ar indirectly to eac?? <br />ar?d all Affordable For-Sale ??its to each and all prospective ?or?lebuyers. <br />?i? Ire cot?t?ection tllere?vith,l)eveloper• shall in any marketing <br />effort relative to tine Affordable Far-Sale Units fully disclose its obligation to provide tl?e <br />Affa?•dable For-dale Units ar?d each prospective Hol?ne?uyer shall be pravide?l a tr•??e and <br />coxx?plete copy aftlle form oftl?e Homebuyer Loan Agreei?lerit, rid all attacl?t?rents thereto <br />?ii? Develape?? shall ca?zse to be provided to each prospective <br />Han?ebuyer orie-on-one haii?n counseling coricer•ni??g such pi•aspectrve Hoi?lebuye?,'s potential <br />purchase of an Affordable ?ox?«Sale Unit, in partic??lar tl?e prov?sior?s relating to the lo??gMtern? <br />affordabiiity cove??a??ts and restrictions oz? resale applicable to s??ch Affordable Fai•-dale Unit, <br />?'he one-oil-ot?e caut?selir? shall be videotaped and a copy of the videotape s?all be provided fo <br />Agency staffan a DPI) ?vithrn ten X10}days after the co?rnseling sessiol?. <br />?ili} T??e form of Developer's p??rcl?ase and sale ar•eeirrent, <br />marketing materials, draft disclosure dac?rments, ar?d scapelpersannel?method for housing <br />cai?nselir?g to and for prospective Hotr?ebuyers ofAffardable ?o?i»Sale Ui?rts shall be provided to <br />the Agency ?xecirtive Director far i•evie?v and app?•oval pi•iar to the issuance of the first building <br />pei•init for the pr•a?ect? <br />???OC?I???67v? (240272-?0? ? <br />??