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such real property was the appiicant's primary residence, within the last three <br /> years. Contractor shall submit affirmative marketing plan to City prior to <br /> disbursement of funds under this Agreement. <br /> d. Elis�ible Households. To be an "Eligible Household", the purchaser must <br /> have an income, certified by the City or its designee, which is between 50 and 80 <br /> percent of Area Median Income (AMI) established by the U.S. Department of <br /> Housing and Urban Development(HUD)for the County of San Mateo. In order to <br /> ensure compliance with this Agreement in connection with the sale and transfer <br /> of each Affordable Unit, Contracto� and its successors shall obtain a copy of <br /> each prospective purchaser's federal income tax retum for the taxable year <br /> immediately preceding the proposed purchase of an Affordable Unit and current <br /> income information such as wage statements or, if the prospective purchaser <br /> certifies and declares under penalty of perjury that he or she did not file a federal <br /> tax retum, other evidence of income for such year acceptable to the City in its <br /> sole discretion and cuRent income information such as wage statements, to <br /> substantiate that the prospective purchaser meets the eligibility requirements of <br /> Qualified Buyers. In the event the City is unable to make a determination that a <br /> prospective buyer is a Qualified Buyer based upon the information provided, the <br /> prospective purchaser shall be determined not to meet the requirements of a <br /> Qualified Buyer and shall be disqualified from purchase. <br /> e. Maximum Affordable Sales Price. The units shall be sold at a purchase <br /> price that would be considered affordable to a purchaser whose income is <br /> between 50 and 80 percent of AMI for San Mateo County, as calculated pursuant <br /> to Califomia Health and Safety Code Section 50052.5, adjusted for household <br /> size, depending on the number of bedrooms (the "Affordable Sales Price"). <br /> Mortgage terms to Purchaser shall provide a monthly payment not to exceed <br /> 30% of adjusted gross household income. <br /> f. Resale Restriction As�reement. Upon sale of the Affordable Units to an <br /> Eligible Household, each Eligible Household shall enter into Grant Deed <br /> Restrictions and an Option to Purchase with the Contractor in substantially the <br /> same form as Exhibit C, attached hereto and incorporated herein by this <br /> reference (the "Resale Restriction Agreement"). <br /> 9. Reversion of Assets. If Contractor elects to sell the property, discontinue the <br /> affordable housing program and not perForm the conditions of this Agreement the <br /> sale must be at Fair Market Value as established by an appraisal completed in <br /> accordance with federally accepted appraisal practices. The appraiser must be <br /> approved by City. The Contractor shall be responsible for the cost of said <br /> appraisal. Contractor shall pay to the City the sum of One Hundred Fourteen <br /> Thousand Eight Hundred Ninety Five and no/100 dollars ($114,895) plus any <br /> accrued equity based on the prorated City share of the CDBG funds on the then <br /> current Fair Market value of the property. <br /> REV:02-05-15 VR <br /> Page 23 of 33 <br /> ATTI'/AGR.2015.025/Habitat for Humanity GSF Jefferson Site Acquisition <br />