Laserfiche WebLink
<br />B. Developer shall use commercially reasonable measures to require that the <br />Affordable by Design Units will be owner occupied for at least I year from close of escrow, <br />subject to the Hardship Exceptions described below. Such restriction will be included in the <br />sales agreements for such units to the extent permitted by the State Department of Real Estate. <br /> <br />C. Developer shall use commercially reasonable measures to restrict the resale of <br />the Affordable By Design Units for at least one year from the close of escrow, subject to the <br />Hardship Exceptions described below. <br /> <br />D. Exterior and interior finishes, landscaping and amenities including appliances, <br />carpeting, electrical fixtures, hardware countertops, etc., for the Affordable By Design Units <br />shall be consistent with the other units in the Project. <br /> <br />E. Developer, with cooperation from the City, shall market and sell the <br />Affordable By Design Units. <br /> <br />F. As used herein, "Hardship Exceptions" shall mean (I) a transfer resulting <br />from the death of a purchaser (or of one of the purchasers if there are two or more purchasers) or <br />the death of a dependent who had been living with a purchaser(s); (2) inter-spousal transfers or <br />transfers between purchasers; (3) a transfer resulting from the decree of dissolution of marriage <br />or legal separation or from a property settlement agreement incident to such decree; (4) a transfer <br />by a purchaser into a trust in which the purchaser or spouse or dependent of a purchaser is a <br />beneficiary; (5) the transfer, conveyance, pledge, assignment, or other hypothecation of the <br />property to secure the performance of an obligation, which transfer, conveyance, pledge, <br />assignment, or hypothecation will be released or reconveyed upon the completion of such <br />performance; and (6) a transfer by a purchaser where (a) at the time oftransfer a purchaser is <br />occupying the property as the purchaser's principal place of residence, and (b) the transfer is <br />necessary to facilitate, or is reasonably required as a result of, (i) purchaser's relocation of the <br />purchaser's principal place of residence in order to accommodate ajob transfer required by the <br />purchaser's employer, (ii) a change in employment of the purchaser, or (iii) a change in the <br />employment status ofthe purchaser. <br /> <br />[SIGNATURE PAGE FOLLOWS] <br /> <br />Page 3 <br />