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DRAFT , <br /> 13 <br /> of assisted units by recording Exhibit C "Declaration of Restrictive Covenants" on every <br /> assisted property. <br /> 5. Resale Provisions. Habitat shall assure compliance with affordability of assisted units <br /> through the Declaration of Restrictive Covenants. The Declaration of Restrictive <br /> Covenants shall include at least the following elements in their resale provisions for the <br /> Improvements: <br /> 5.1 If the original buyer no longer uses the Improvement as a principal residence or <br /> is unable to continue ownership, then the buyer must sell, transfer, or otherwise <br /> dispose of its interest in the Improvement only to a low-income household, one <br /> whose combined income does not exceed 80% of the median household income <br /> as determined annually by HUD, to use as their principal residence. <br /> 5.2 The original buyer shall receive a fair return on investment(including the <br /> buyer's investment and any capital investment). <br /> 5.3 The resale provision shall remain in effect for the full affordability period—99 <br /> years. <br /> 6. Miscellaneous Provisions. <br /> a. Termination of Agreement.The full benefit of the Project will be realized only <br /> after the completion of the affordability periods for all properties constructed with funds provide <br /> affordable units to low-income families. It is the County's intention that the full public benefit of <br /> this project shall be completed under the auspices of Habitat for the assisted units as follows: <br /> i. In the event that Habitat is unable to proceed with any aspect of the Project in a <br /> timely manner, and County and Habitat determine that reasonable extension(s) for <br /> completion will not remedy the situation, then Habitat will retain responsibility for <br /> requirements for any units assisted and County will make no further payments to <br /> Habitat. <br /> ii. In the event that Habitat,prior to the close of the final affordability period, is unable <br /> to continue to function due to, but, not limited to, closure or insolvency of the <br /> organization, filing a petition of bankruptcy or similar proceedings, or is adjudged <br /> bankrupt or fails to comply or perform with provisions of this agreement as required <br /> by federal regulations, then Habitat shall,upon the County's request,convey to the <br /> County the properties assisted with funds. Conveyance shall be at the sole discretion <br /> of County and on a property by property basis. <br /> Conveyance of properties shall be on the terms set forth herein: <br /> Conveyance of properties shall occur within thirty (30) days of County and Habitat's <br /> agreement of Habitat's inability to continue as a viable organization. Habitat shall <br /> convey the subject properties to County by statutory warranty deed, free and clear of <br /> 11 <br />