Moderate-Income For-Sale Unit Affordability Period Sample Clauses

Moderate-Income For-Sale Unit Affordability Period. Subject to the Shared Equity provisions contained below in Section 3.3, the Moderate-Income Units shall be occupied by a Moderate-Income Household for a minimum of forty-five (45) years. If the owner of a Moderate-Income Unit sells that Unit within the initial 45 years, the Unit shall be sold to another Moderate-Income Income Household and subject to a new 45-year deed restriction. After the initial sale of a Moderate-Income Unit, the deed restriction and occupancy of Moderate-Income Units will be monitored, controlled, and enforced by the City.
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