Sale of Affordable Units Sample Clauses

Sale of Affordable Units. The sale price of the Affordable Unit shall not exceed the Affordable Housing Cost. So that City may verify the amount is not more than the Affordable Housing Cost, Homeowner shall provide written notice to City of the sale price of each Affordable Unit prior to offering for sale the Affordable Unit. City verification shall be provided within fifteen (15) business days of City's receipt of Homeowner's written notice of the proposed sale price. Owner shall sell the Affordable Unit only to the proposed Transferee who qualifies as a Qualified Purchaser. Homeowner shall not convey title to the Affordable Unit to a Household that does not qualify as a Very Low Income Household and Homeowner shall not convey fee title to the Affordable Unit to a Very Low Income Household at a price that exceeds the Affordable Housing Cost.
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Sale of Affordable Units. Owner shall sell each For Sale Affordable Unit to an Individual Unit Owner who qualifies as a Qualified Purchaser. Owner shall not convey title to any For Sale Affordable Unit designated for Very Low Income Households to a Household that does not qualify as a Very Low Income Household, and Owner shall not convey title to any For Sale Affordable Unit designated for Moderate Income Households to a Household that does not qualify as a Moderate Income Household. Owner shall not convey title to any For Sale Affordable Unit to a Very Low Income Household, or Moderate Income Household at a price that exceeds the Affordable Housing Cost for that Affordable Unit. So that City may verify the amount is not more than the Affordable Housing Cost, Owner shall provide written notice to City of the sale price of each Affordable Unit prior to offering for sale the Affordable Unit. City verification shall be provided within fifteen (15) business days of City's receipt of Owner's written notice of the proposed sale price. Owner shall verify or cause to be verified, and City shall review and approve, which approval shall not be unreasonably withheld or delayed, the income of every prospective purchaser of a For Sale Affordable Unit.
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Sale of Affordable Units 
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