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3 <br /> 4. Habitat agrees to sell the homes to qualified buyers whose income does not exceed 80% <br /> of the area median income by family size, as determined by the U.S. Department of <br /> Housing and Urban Development and as amended from time to time. The period of <br /> affordability shall be 20 years from the date of execution of this Agreement. <br /> 5. The County and Habitat agree to comply with the CDBG regulations in the construction <br /> and sale of the identified dwelling units. The County and Habitat further agree to comply <br /> with the provisions of the Grant Agreement dated July 8, 1998 attached hereto and made <br /> a part of this Agreement(Exhibit Q. <br /> 6. Upon completion of the obligation of each party under this Agreement, and the receipt of <br /> a Certificate of Completion from DCA; the County shall notify Habitat in writing that all <br /> requirements have been fulfilled thereby releasing Habitat from its obligations herein <br /> stated. <br /> 7. Miscellaneous Provisions. <br /> a. Termination of Agreement. The obligations of the parties hereunder and the <br /> specific obligation of Habitat to accept conveyance of the Property and construct a houses <br /> thereon shall terminate upon the completion of the sale of the Property to each homebuyer. <br /> Notwithstanding the foregoing, the parties hereto may terminate this Agreement at any time by a <br /> mutual agreement to that effect in writing. <br /> b. Default, Remedies. This Agreement may be terminated by a non-defaulting party <br /> upon an event of default hereunder, after written notice thereof is given giving the defaulting <br /> party thirty (30)days in which to cure the default. As used herein, the term "an event of default" <br /> shall mean and refer to a breach of any of the terms of this Agreement including a failure to meet <br /> the time limitations contained in this Agreement and a failure to act as required by this <br /> Agreement by either party with respect to any undertaking, obligation, covenant or condition as <br /> set forth in this Agreement which the defaulting party has not cured. With respect to any event <br /> of default, the non-defaulting party may exercise any right available to it at law or in equity with <br /> respect to such default. In the event of default by Habitat, the County is not responsible for <br /> paying or reimbursing Habitat for expenses incurred by Habitat in the development or sell of the <br /> property. <br /> c. Books and Records. Each party shall keep and maintain books, records and <br /> other documents relating directly to the receipt and disbursement of grant funds and the <br /> fulfillment of this Agreement. Each party agrees that any authorized representative of the <br /> County, the State, the U.S. Department of Housing and Urban Development and Comptroller <br /> General of the United States shall, at all reasonable times, have access to and the right to inspect, <br /> copy, audit and examine all of the books, records and other documents relating to the grant and <br /> the fulfillment of this Agreement for a period of three (3) years following the completion of the <br /> Project. <br />