Common use of City Verification Clause in Contracts

City Verification. Homeowner shall not convey fee title to the Affordable Unit to the proposed Transferee until such time as City has determined (i) the proposed Transferee intends to occupy the Affordable Unit as a principal residence; (ii) the proposed Transfer is a Permitted Transfer; (iii) the proposed Transferee and City have executed in a recordable form (where appropriate) any instruments necessary to effectuate the agreement by the proposed Transferee to be bound by the obligations set forth in this Covenant, the Affordable Housing Deed of Trust, the Affordable Housing Option Agreement, and the Reimbursement Agreement; and (iv) the proposed conveyance will not otherwise violate the terms and conditions of this Covenant. Homeowner shall cooperate with and reasonably assist City with its determination of the matters set forth in clauses (i)-(iv) above. Homeowner shall have the obligation to deliver to City all Income Verification Materials for the proposed Transferee of the Affordable Unit no later than thirty (30) days prior to the close of escrow. City shall respond to a request from Homeowner for verification of the matters in clauses (i)-(iv) above by written notice, which shall be delivered to Homeowner within thirty (30) calendar days of City's receipt of all Income Verification Materials for the proposed Transferee of the Affordable Unit. If City is unable to verify the prospective Transferee's income as provided herein, then the prospective Transferee's income shall be deemed to exceed the maximum allowable income limit for a Very Low Income Household. In the event that City determines a proposed conveyance would violate this Covenant, City shall specify the reason for said violation. If the proposed violation is not corrected to the satisfaction of City within thirty (30) days after the date of the notice specifying the violation, or within such further time as the City determines in its sole and absolute discretion is necessary to correct the proposed violation, Homeowner shall not convey title to the proposed Transferee. The City may apply to a court of competent jurisdiction for injunctive relief or specific performance of this Agreement, for a declaration that the proposed conveyance is void, or for any such other relief as may be appropriate.

City Verification. Homeowner Owner shall not convey fee title to the any For Sale Affordable Unit to the a proposed Transferee purchaser until such time as City has determined (i) the proposed Transferee purchaser intends to occupy the For Sale Affordable Unit as a principal residence; (ii) the proposed Transfer purchaser is a Permitted TransferVery Low Income Household or Moderate Income Household, as applicable; (iii) the purchase price of the For Sale Affordable Unit does not exceed the applicable Affordable Housing Cost; (iv) the proposed Transferee purchaser and City have executed in a recordable form (where appropriate) any instruments necessary to effectuate the agreement by the proposed Transferee to be bound by the obligations set forth in this Covenant, the Affordable Housing Deed of Trust, the Affordable Housing Option Agreement, Covenant and the Reimbursement Agreementattachments thereto; and (ivv) the proposed conveyance will not otherwise violate the terms and conditions of this CovenantAgreement. Homeowner Owner shall cooperate with and reasonably assist City with its determination of the matters set forth in clauses (i)-(ivi)-(v) above. Homeowner shall have Upon receipt of the obligation to deliver to City all Income Verification Materials for the proposed Transferee of the Affordable Unit no later than thirty (30) days prior to the close of escrow. Materials, City shall respond to a request from Homeowner for verification of the matters in clauses (i)-(iv) above thereof by written notice, which shall be delivered to Homeowner notice within thirty (30) calendar business days of City's receipt of all Income Verification Materials for the proposed Transferee of the Affordable Unitreceipt. If City is unable to verify the prospective Transfereepurchaser's income as provided herein, then the prospective Transfereepurchaser's income shall be deemed to exceed the maximum allowable income limit for a Very Low Income Household or Moderate Income Household, as the case may be. In the event that City determines a proposed conveyance would violate this CovenantAgreement, City shall specify the reason for said violation. If the proposed violation is not corrected to the satisfaction of City within thirty (30) days after the date of the notice specifying the violation, or within such further time as the City determines in its sole and absolute discretion is necessary to correct the proposed violation, Homeowner Owner shall not convey title to the proposed Transfereepurchaser. The City may also provide notice to Owner within such thirty (30) day period that it is unable to make a determination as a result of an event of force majeure, an inability to secure the cooperation of the prospective purchaser, or other reason beyond City's control. City may apply to a court of competent jurisdiction for injunctive relief or specific performance of this Agreement, for a declaration that the proposed conveyance is void, or for any such other relief as may be appropriate.

City Verification. Homeowner shall not sell or otherwise convey fee title to the Affordable Unit to the proposed Transferee until such time as City has determined (i) the proposed Transferee intends to occupy the Affordable Unit as a principal residence; (ii) the proposed Transfer Transferee is a Permitted TransferVery Low Income Household; (iii) the purchase price of the Affordable Unit does not exceed the Affordable Housing Cost; (iv) the proposed Transferee and City have executed in a recordable form (where appropriate) any instruments necessary to effectuate the agreement by the proposed Transferee to be bound by the obligations set forth in this Covenant, the Affordable Housing Deed of Trust, the Affordable Housing Option Agreement, and the Reimbursement Agreement; and (ivv) the proposed conveyance will not otherwise violate the terms and conditions of this Covenant. Homeowner shall cooperate with and reasonably assist City with its determination of the matters set forth in clauses (i)-(ivi)-(v) above. Homeowner shall have the obligation to deliver to City all Income Verification Materials for the proposed Transferee of the Affordable Unit no later than thirty (30) days prior to the close of escrow. City shall respond to a request from Homeowner for verification of the matters in clauses (i)-(ivi)-(v) above by written notice, which shall be delivered to Homeowner within thirty (30) calendar days of City's receipt of all Income Verification Materials for the proposed Transferee of the Affordable Unit. If City is unable to verify the prospective Transferee's income as provided herein, then the prospective Transferee's income shall be deemed to exceed the maximum allowable income limit for a Very Low Income Household. In the event that City determines a proposed conveyance would violate this Covenant, City shall specify the reason for said violation. If the proposed violation is not corrected to the satisfaction of City within thirty (30) days after the date of the notice specifying the violation, or within such further time as the City determines in its sole and absolute discretion is necessary to correct the proposed violation, Homeowner shall not convey title to the proposed Transferee. The City may apply to a court of competent jurisdiction for injunctive relief or specific performance of this Agreement, for a declaration that the proposed conveyance is void, or for any such other relief as may be appropriate.

City Verification. Homeowner shall not sell or otherwise convey fee title to the Affordable Unit to the proposed Transferee until such time as City has determined (i) the proposed Transferee intends to occupy the Affordable Unit as a principal residence; (ii) the proposed Transfer Transferee is a Permitted TransferVery Low Income Household; (iii) the purchase price of the Affordable Unit does not exceed the Affordable Housing Cost; (iv) the proposed Transferee and City have executed in a recordable form (where appropriate) any instruments necessary to effectuate the agreement by the proposed Transferee to be bound by the obligations set forth in this Covenant, the Affordable Housing Deed of Trust, the Affordable Housing Option Agreement, and the Reimbursement Agreement; and (ivv) the proposed conveyance will not otherwise violate the terms and conditions of this Covenant. Homeowner shall cooperate with and reasonably assist City with its determination of the matters set forth in clauses (i)-(ivi)-(v) above. Homeowner shall have the obligation to deliver to City all Income Verification Materials for the proposed Transferee of the Affordable Unit no later than thirty (30) days prior to the close of escrow. City shall respond to a request from Homeowner for verification of the matters in clauses (i)-(ivi)-(v) above by written notice, which shall be delivered to Homeowner within thirty (30) calendar days of City's receipt of all Income Verification Materials for the proposed Transferee of the Affordable Unit. If City is unable to verify the prospective Transferee's income as provided herein, then the prospective Transferee's income shall be deemed to exceed the maximum allowable income limit for a Very Low Income Household. In the event that City determines a proposed conveyance would violate this Covenant, City shall specify the reason for said violation. If the proposed violation is not corrected to the satisfaction of City within thirty (30) days after the date of the notice specifying the violation, or within such further time as the City determines in its sole and absolute discretion is necessary to correct the proposed violation, Homeowner shall not convey title to the proposed Transferee. The City may apply to a court of competent jurisdiction for injunctive relief or specific performance of this Agreement, for a declaration that the proposed conveyance is void, or for any such other relief as may be appropriate.thirty