Alternative Standard Clause Samples

Alternative Standard. For each of the three years immediately preceding the date that the Administrator receives their Purchase Application: (1) the Ownership Applicant has maintained his or her Primary Residence within the Telluride ▇-▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ for at least eight months of each year; (2) the sum of the Ownership Applicant’s Household Qualifying Income and Household Non- Qualifying Income does not exceed 100% AMI for the applicable household size; and (3) the Ownership Applicant’s Total Household Assets amount to no more than two times the Contract Price of the Subject Property.