Common use of Income Verification Clause in Contracts

Income Verification. The proposed Transferee shall provide and certify, for the purpose of City approval, the following information: the Social Security Number (if available) of the proposed Transferee; copies of the federal and state income tax returns if filed by the proposed Transferee for the prior two (2) calendar years; copies (if available) of the two most current wage earning statements of the proposed Transferee; a certification as to the income and family size of the proposed Transferee; the purchase price the proposed Transferee intends to pay for the Affordable Unit; and any other information that City may reasonably require to verify the income of the proposed Transferee. The proposed Transferee shall also provide, for the purpose of City approval, the following: (A) an agreement by the proposed Transferee to assume the obligations of an owner of the Affordable Unit as set forth in the Affordable Housing Covenant in such form as the City may request, and (B) a written statement signed by the proposed Transferee (in a form reasonably acceptable to City Attorney) that authorizes City to inspect, use, and rely on the information provided by the proposed Transferee, and waiving and releasing any right or claim that said proposed Transferee might otherwise have in the absence of such written authorization to maintain the privacy or confidentiality of such information. The information, statements, agreements, and other documents that a proposed Transferee is required to provide pursuant to this subsection (c) are collectively the "Income Verification Materials." Homeowner shall have the obligation to collect and compile all Income Verification Materials from the proposed Transferee of the Affordable Unit.

Income Verification. The proposed Transferee Homeowner (or Homeowner's lawfully designated representative in the event of the death of Homeowner) shall provide and certify, for deliver or cause to be delivered to City no later than thirty (30) days prior to the purpose date of City approval, Transfer the following information: the Social Security Number Number(s) (if available) of the proposed TransfereeTransferee if the proposed Transferee is a natural person or persons; copies of the federal and state income tax returns if filed by the proposed Transferee for the prior two (2) calendar yearsyears if the proposed Transferee is a natural person or persons; copies (if available) of the two most current wage earning statements of the proposed TransfereeTransferee if a natural person or persons; a certification as to the income and family size of the proposed Transferee; the purchase price the Transferee if a proposed Transferee intends to pay for the Affordable UnitTransferee(s) is/are natural persons; and any other information that City city may reasonably require to verify the income of the proposed Transferee. The proposed Transferee Homeowner shall also providedeliver, for the purpose of City approval, the following: (A) an agreement by the proposed Transferee to assume the obligations of an owner of the Affordable Unit as set forth in the Affordable Housing this Covenant in such form as the City may request, and (B) a written statement signed by the proposed Transferee (in a form reasonably acceptable to the City Attorney) that authorizes authorize City to inspect, use, and rely on the information provided by the proposed Transferee, and waiving and releasing any right or claim that said such proposed Transferee might otherwise have in the absence of such written authorization to maintain the privacy or confidentiality of such information. The information, statements, agreements, and other documents that a proposed Transferee is required to provide pursuant to this subsection (cb) are collectively the "Income Verification Materials." Homeowner shall have the obligation to collect and compile all Income Verification Materials from the proposed Transferee of the Affordable Unit.