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(iii) The form of Developer's purchase and sale agreement, <br />marketing materials, draft disclosure documents, and scope/personnel/method for housing <br />counseling to and for prospective Homebuyers of Affordable For-Sale Units shall be provided to <br />the Agency Executive Director for review and approval prior to the issuance of the first building <br />permit for the Project. <br />(iv) In connection with the Developer's marketing efforts and <br />its obligation to provide housing counseling and appropriate disclosure to prospective <br />Homebuyers of Affordable For-Sale Units as described in subsection above, the Agency <br />acknowledges that it will assist the Developer in a limited role in that the Agency staff will be <br />reasonably available for reasonably limited times to receive and answer questions of prospective <br />Homebuyers, but only as to those prospective Homebuyers who have been previously screened <br />and evaluated by the Developer (or its agent) as a Moderate Income Household meeting the <br />criteria established herein as potentially qualified to purchase an Affordable For-Sale Unit as <br />well as reviewed preliminarily as to and regarding creditworthiness and eligibility to apply for <br />and obtain a first lien mortgage to purchase an Affordable For-Sale Unit. Nothing in the <br />foregoing statement regarding the Agency's limited role in housing counseling shall obligate, <br />involve, or require Agency (or City) or any of their staff, consultants, or counsel to assist in the <br />marketing, housing counseling, disclosure, or sale of any For-Sale Units to any prospective or <br />actual buyer, or selection of such buyer, which is and shall remain the Developer's sole legal, <br />contractual, and Financial responsibility. <br />(c) The sale of each Affordable For-Sale Unit by the Developer to an <br />eligible Homebuyer shall be subject to the satisfaction, or waiver by the Agency Executive <br />Director of the following conditions precedent numbered (i) through (x) inclusive: <br />(i) Association CC&Rs. Pursuant to the requirements of <br />Section 402(b) of this Agreement, the Developer shall have (or caused to have) prepared, <br />approved, executed, formed, and caused to be recorded the Declaration of Covenants, Conditions <br />and Restrictions for the homeowners association (the "Association") for the For-Sale Portion of <br />the Project (the "Association CC&Rs") prior to issuance of the first certificate of occupancy <br />(temporary or permanent) for any Housing Unit (whether or not such Housing Unit is restricted <br />pursuant to the terms of this Agreement) within the For-Sale Portion of the Project. <br />(ii) Affordable For-Sale Unit Completed. The applicable <br />Affordable For-Sale Unit shall have been completed, as evidenced by issuance of the certificate <br />of occupancy for such Affordable For-Sale Unit. <br />(iii) Escrow. The Homebuyer's purchase of the Affordable For- <br />Sale Unit shall be transacted through an escrow with an escrow holder satisfactory to the <br />Developer and Agency Executive Director. Costs for such escrow shall be charged to and <br />deducted from the proceeds of the Homebuyer Assistance Loan. <br />(iv) Escrow Instructions. The Agency Executive Director (or <br />his or her designee) shall have approved the instructions for the Homebuyer's escrow. It is <br />anticipated that the Agency Executive Director (or his or her designee) will approve such <br />instructions within fifteen (15) days after receipt of a complete package of escrow instructions <br />DOCSOG I400673v 141200272-0001 <br />44