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L R <br />A <br />I. Permitted Sale <br />I -A. Notice of Permitted Sale: If an Owner desires to sell the Inclusionary Unit, <br />the Owner shall provide City with a Notice of Intent to Sell in the form <br />attached as Exhibit ht <br />1, Within fifteen (15) business days after recent of such Notice, City shall <br />provide the Owner with the Affordable Sales Price and the maximum <br />incomes of Eligible Purchasers, <br />2. The Owner shall market the Incluslonary Unit to Eligible Purchasers for a <br />period of not less than ninety (90) days from providing the Notice. <br />3. If the Owner is unable to locate an Eligible Purchaser who is ready, willing <br />and able to enter into a purchase agreement for the Inclusionary unit <br />Within the 90 -day period: <br />a. The Owner must demonstrate to thelnclusionary Program Director <br />that all reasonable efforts were made to diligently market the <br />Inclusionary Unit. <br />If the Incluslonary Program Director determines that adequate <br />marketing efforts were pursued, the City shall have 30 days from <br />after the expiration of the period to exercise City's Purchase Option <br />under Article 3 - Section II. <br />C. If the City does not exercise the City's Purchase Option, the Owner <br />may sell the I nclusianary unit to a brayer is not an Eligible <br />Purchaser under the Extraordinary Sale terms identified in Article <br />- Section HI, <br />l -B, Inspection and Repair Costs: Upon receipt of a Notice of intent to Sell, <br />the City shall have the right to inspect the lnclusionary lint to determine <br />whether any violations of applicable laws or ordinances exist. <br />1. The City may hire a third party to undertake the inspection. <br />Induefu,rrdry Housing Govenants Dedara bon � F9p917 <br />My or'an[n Ana January 2046 <br />32A -89 <br />