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d. At the time of closing of the sale of each of the dwelling units to a homebuyer, <br />Habitat shall repay the County $9,000 in the form of a credit to the homebuyer. The <br />credit to the homebuyer shall be documented by a Promissory Note from the homebuyer <br />to the County which note shall be secured by a Deed of Trust on the Property naming the <br />County as beneficiary. The County agrees to subordinate its Deed of Trust lien to a lien <br />securing private permanent financing acquired by the homebuyer. <br />e. The period of affordability will be 99 years and will be secured by a Declaration <br />of Restrictive Covenants that will incorporate a right of first refusal that may be exercised <br />by Habitat and/or the County. <br />f. Habitat is responsible for soliciting buyers for the dwelling units constructed on <br />the Property. Habitat and/or its buyers shall be responsible for securing permanent <br />mortgage fmancing for the homes built on the Property. <br />g. Habitat is responsible for verifying the income of the homebuyers, explaining the <br />second mortgage program to potential homebuyers and certifying by written <br />documentation signed by the homebuyer that the program requirements have been fully <br />explained. Habitat shall maintain purchaser files as part of its Books and Records as <br />required and for the period of time required by Section 6.c. of this Agreement. <br />2. Progress Payments. The County shall make payments when requested by Habitat in <br />order to facilitate the development of the project infrastructure. Copies of documentation <br />for actual expenses shall accompany payment requests. <br />3. Time for Commencement and Completion. The Project completion date is the closing <br />date of the purchase by a qualified buyer of the last of the 50 units to be constructed. In <br />the event that Habitat is unable to proceed with any aspect of the Project in a timely <br />manner, and the County and Habitat determine that reasonable extension(s) for <br />completion will not remedy the situation, then the Termination of Agreement provisions <br />of this Agreement (Section 6.a.) shall pertain. Habitat may, at its option, submit a written <br />request for a delay of completion for County approval. The County may, at its option, <br />approve any delay in the Project completion date or declare Habitat in default. <br />Habitat shall monitor the constructed units for affordability for the period of affordability <br />- ninety-nine (99) years. Final contract completion date shall be the latest end date of all <br />assisted unit affordability periods. <br />In addition, Habitat agrees to furnish to the County a copy of its annual audit, performed <br />by a certified public accountant within 90 days of the end of the fiscal year of expenditure <br />of the Bond Program Funding. <br />4. Affordability Requirement. Each unit must remain affordable for a period of ninety- <br />nine years. Habitat retains full responsibility for compliance with the affordability <br />requirement for assisted units, unless affordability restrictions are terminated due to the <br />sale of the Property to anon-qualified buyer in which event the Resale Provisions of <br />4 <br />