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Agreement with Option to Purchase, and the City shall reconvey and release the liens of this <br />Agreement and the City Deed of Trust. from the Home, provided that the'Owner pays the <br />Excess Sales Proceeds to the City pursuant to Section 12 below prior to said reconveyance <br />and release, The Owner shall provide the City with the following documentation associated <br />with such a Transfer: <br />A. The name and address of the purchaser. <br />B. The final sales contract and all other related documents, Which shall set forth <br />all the terms of the sale of the, Home. Said documents shall include at least <br />east the following <br />terms: (a) the sales price; and (b) the, price to be paid by the Market Purchaser for the <br />Owner's personal property, if any, for the services of the Ownef, if any, (c) escrow costs and <br />charges, (d) real estate brokerage fees and any other resale costs, charges and any credits, <br />allowances or other consideration, if any. <br />C. A written certification, from the Owner and the Market Purchaser in a form <br />attached hereto as Exhibit G, stating that the sale shall be closed in accordance with the <br />terms of the sales contract and other documents submitted to and approved, by the City. The <br />certification shall also provide that the Market Purchaser or any other party has not paid and <br />will not pay to the, Owner, and the Owner has not receivedai.id will not receive from the <br />Market Purchaser or any other party, money or other consideration, including personal <br />property, in addition to what -is set forth in the sales Contract and documents submitted to the <br />City. The written certification shall also include a provision that in the event a Transfer is <br />made in violation o ' f the terms of this Agreement or false or misleading statements are made <br />in any documents or certification, submitted to the City, the City shall have the right to <br />foreclose on the Home or file <br />e an action at law or in equity as may be appropriate. In any <br />event, any costs, liabilities or obligations incurred by the Owner and the Market Purchaser <br />for the return of any moneys paid or received in violation of this Agreement or for Any costs <br />and legal. expenses, shall be borne by the Owner and/or the Market Purchaser and they shall <br />hold the, City and its designee harmless and reimburse their expenses, legal fees and costs <br />for any action they reasonably take in good faith in enforcing the, terms of this Agreement. <br />D. A copy of the MAT or other -qualified appraisal for the Home. <br />Ei Upon the close, of the proposed sale, a copy of the final sales contract, <br />settlement statement, escrow instructions, and any other documents, which the City may <br />reasonably request. <br />12. PAYMENT TO CITY OF EXCESS SALES, PROCEEDS <br />If the Owner Transfers the Home at Unrestricted Fait Market Value pursuant to <br />Section I I above, or if the Owner makes a Transfer in violation of this, Agreement, the <br />Owner shall pay the Excess Sales Proceeds to the City. For purposes of this Agreement, <br />"Excess Sales Proceeds" shall mean ninety percent (90%) of the amount by which the <br />Unrestricted Fair Market Value for the Home exceeds the Maxim -Lim Allowable Sales Price <br />for the Home calculated pursuant to Exhibit B of this Agreement. This amount shall be a <br />debt of the Owner to the City, secured by the City Deed of Trust. The Owner <br />acknowledges that the City shall have no obligation to cause reconveyance of this <br />REV: 06-30- 22 SK <br />ATTY/AGR.2022.166IHugo Alberto Zarco Vargas & Andrea Vergara Cardenas (Page 14 of 40), <br />