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D. OWNER UNDERSTANDS THAT THE DETERMINATION OF THE <br />MAXIMUM ALLOWABLE RESALE PRICE OF THE HOME TO AN ELIGIBLE <br />PURCHASER CAN BE MADE ONLY AT THE TIME OF THE PROPOSED <br />TRANSFER, TAKING INTO CONSIDERATION INCREASES IN MEDIAN INCOME <br />AND OTHER FACTORS THAT CANNOT BE ACCURATELY PREDICTED AND <br />THAT THE SALES PRICE PERMITTED HEREUNDER MAY NOT INCREASE OR <br />DECREASE IN THE SAME MANNER AS OTHER SIMILAR REAL PROPERTY <br />WHICH IS NOT ENCUMBERED BY THIS AGREEMENT. OWNER FURTHER <br />ACKNOWLEDGES THAT AT ALL TIMES IN SETTING THE SALES PRICE OF THE <br />HOME THE PRIMARY OBJECTIVE OF THE CITY AND THIS AGREEMENT IS TO <br />PROVIDE HOUSING TO ELIGIBLE PURCHASERS AT AFFORDABLE HOUSING <br />COST. THE MAXIMUM ALLOWABLE RESALE PRICE WILL ALMOST <br />CERTAINLY BE LESS THAN OTHER SIMILAR PROPERTIES THAT HAVE NO <br />RESTRICTIONS. <br />(Initials of Owner) <br />35. EXHIBITS <br />Any exhibits referred to in this Agreement are incorporated in this Agreement by <br />such reference. <br />36. ACTION AND APPROVAL <br />Whenever action and/or approval by City is required under this Agreement, the City <br />Manager or the City Manager's designee may act on and/or approve such matter unless <br />specifically provided otherwise, or unless the City Manager or the City Manager's designee <br />determine in their discretion that such action or approval requires referral to City Council <br />for consideration. <br />REV: 06-30-22 SK <br />ATN/AGR.2022.166/Hugo Alberto Zarco Vargas & Andrea Vergara Cardenas (Page 24 of 40) <br />