Common use of Selection of Buyers Clause in Contracts

Selection of Buyers. Prospective Initial Buyers shall be selected by Developer in accordance with the Marketing Plan. However,‌ prior to closing an Initial Sale of an Affordable Unit, Agency shall submit to Developer a completed income computation and certification form, together with all supportive documentation for each prospective Initial Buyer. Gross household income shall be determined in accordance with California Code of Regulations Section 6914, as amended. The income certification form shall demonstrate that the prospective Initial Buyer is a Low or Moderate Income Household and that such person satisfies the eligibility criteria established for the relevant Affordable Housing Unit. Agency shall verify the income certification of each prospective Initial Buyer of an Affordable Housing Unit by utilizing at least one (1) of the following methods:

Selection of Buyers. Prospective Initial Buyers shall be selected by Developer in accordance with the Marketing Plan. However,‌ However, prior to closing an Initial Sale of an Affordable Unit, Agency shall submit to Developer a completed income computation and certification form, together with all supportive documentation for each prospective Initial Buyer. Gross household income shall be determined in accordance with California Code of Regulations Section 6914, as amended. The income certification form shall demonstrate that the prospective Initial Buyer is a Low or Moderate Lower Income Household and that such person satisfies the eligibility criteria established for the relevant Affordable Housing Unit. Agency shall verify the income certification of each prospective Initial Buyer of an Affordable Housing Unit by utilizing at least one (1) of the following methods:

Selection of Buyers. Prospective Initial Buyers shall be selected by Developer in accordance with the Marketing Plan. However,‌ However, prior to closing an Initial Sale of an Affordable Unit, Agency shall submit to Developer a completed income computation and certification form, together with all supportive documentation for each prospective Initial Buyer. Gross household income shall be determined in accordance with California Code of Regulations Section 6914, as amended. The income certification form shall demonstrate that the prospective Initial Buyer is a Low or Moderate Income Household and that such person satisfies the eligibility criteria established for the relevant Affordable Housing Unit. Agency shall verify the income certification of each prospective Initial Buyer of an Affordable Housing Unit by utilizing at least one (1) of the following methods: