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. � � � tenant furnished utilities and other services (the "County Standard") for a one (1)- bedroom residence with the particular type of amenities included in the Affordable Unit as developed upon the Property (i.e. air conditioning, gas or electric stove, among others, all as identified under the County Standard). At the time of a proposed sale, the monthly Maintenance Allowance shall be recalculated as the product of twenty-five percent (25%) of the then-applicable Utilities Allowance. By way of illustration, if the Utilities Allowance at the time of a proposed sale was One Hundred Ninety-Five Dollars ($195), the Maintenance Allowance would be Forty- Eight Dollars and Seventy-Five Cents ($48.75), calculated as One Hundred Ninety- Five Dollars ($195) muRiplied by twenty-five percent (25%). Section 3.05 Determininq Maximum Affordable Unit Resale Price. Maximum Affordable Unit resale price shall be determined in the Resale Restriction Agreement. Section 3.06. First Right of Refusal. The City shall have a continuing "right of first refusal" to purchase the Affordable Units upon the proposed resale by Qualified Buyers as set forth in the Resale Restriction Agreement. Section 3.07 Refinance Restriction• Prohibition on Home Equitv Lines of Credit• Home Equity Loan Restrictions. Any refinance of the loans used to purchase the Affordable Units, home equity loans and/or home equity lines of credit must conform to the terms and conditions of the Resale Restriction Agreement. Section 3.08 Prohibited Transfers of Affordable Units Any sale or transfer of an Affordable Unit in violation of the terms and conditions of this Declaration is expressly strictly prohibited, shall be null and void, and shall constitute a default of Declarant under this Declaration, entitling the City to exercise all remedies available at law or in equity, including without limitation, seeking injunctive relief to prevent or enjoin the prohibited transfer and/or damages as provided in this Declaration. Section 3.09 Occupancv Standards During the Owner-Occupied Affordability Restrictions Term, each Affordable Unit shall be occupied as the Principal Residence of Qualified Buyer and for no other purpose. A Qualified Buyer shall not enter into agreements for the rental or lease of the Affordable Units or otherwise allow for the rental or lease of the same. The maximum occupancy of the Affordable Units shall not exceed the maximum occupancy allowed pursuant to the general requirements of the United States Department of Housing and REDlM0007 \DOC\022-0. DOC � 6/3/09 1200 HvT 8