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4.3 The resale provision shall remain in effect for the full affordability period—99 <br /> years. <br /> 5. 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 dwelling units assisted and County will make no further <br /> payments to Habitat. <br /> ii. In the event that Habitat, prior to the contract completion date, is unable to continue <br /> to function due to, but, not limited to, dissolution or insolvency of the organization, <br /> its filing a petition for bankruptcy or similar proceedings, or is adjudged bankrupt or <br /> fails to comply or perform with provisions of this agreement, then Habitat shall, upon <br /> the County's request, convey to the County the properties assisted with funds. <br /> Conveyance shall be at the sole discretion of County and on a dwelling unit by <br /> dwelling unit 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 general warranty deed, free and clear of <br /> all liens and encumbrances of record except those which create a beneficial interest in <br /> County (Declaration of Restrictive Covenants and Deed of Trust). <br /> b. Default, Remedies. This Agreement may be terminated by a non-defaulting <br /> party upon an event of default hereunder, after written notice thereof and thirty (30) days grace <br /> period in which the defaulting party may act to cure. As used herein, the term "an event of <br /> default" shall mean and refer to a failure or act of omission by either party with respect to any <br /> undertaking, obligation, covenant or condition as set forth in this Agreement. With respect to <br /> any event of default, the non-defaulting party may exercise any right available to it at law or in <br /> equity with respect to such default. <br /> C. Books and Records. Habitat shall maintain records of its grant requirements <br /> under this contract for ninety-nine (99) years following the contract completion date or until the <br /> last of the housing units that are part of the Project is sold to a nonqualified buyer, whichever <br /> first occurs. <br /> 4 <br />