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3.2 However, if'the Property is sold, transferred, or otherwise disposed of to other <br /> than an agency with similar interest in affordable housing during the term of <br /> affordability, the Right of First Refusal provision of' the County's Long-Term <br /> Housing Affordability Policy must be followed and the net sales proceeds (sales <br /> price less: (1) selling cost, (2) the unpaid principal amount of'the original first <br /> mortgage and (3) the unpaid principal amount of the initial County contribution <br /> and any other initial government contribution secured by a deferred payment <br /> promissory note and deed of'trust) or"equity" will be divided 50150 by the seller <br /> of the Property and the County. <br /> 33 The resale provision shall remain in effect for the full affordability period — 99 <br /> years <br /> 4. 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 Project dwelling units It is the County's <br /> intention that the full public benefit of'the Project shall be completed under the auspices of OPC <br /> Foundation for the assisted units as follows: <br /> i In the event that OPC Foundation is unable to proceed with any aspect of'the Project <br /> in a timely manner, and County and OPC Foundation determine that reasonable <br /> extension(s) for completion will not remedy the situation, then OPC Foundation will <br /> retain responsibility for requirements for any dwelling units assisted and County will <br /> make no further payments to OPC Foundation <br /> ii. In the event that OPC Foundation, prior to the contract completion date, is unable to <br /> continue to function due to, but, not limited to, dissolution or insolvency of the <br /> organization, its filing a petition for bankruptcy or similar proceedings, or is adjudged <br /> bankrupt or fails to comply or perform with provisions of this agreement, then OPC <br /> Foundation shall, upon the County's request, convey to the County the Property <br /> assisted with funds. Conveyance shall be at the sole discretion of County and on a <br /> Project dwelling unit by Project dwelling unit basis. <br /> Conveyance shall be on the terms set forth herein: <br /> Conveyance shall occur within thirty (30) days of County and OPC Foundation's <br /> agreement of OPC Foundation's inability to continue as a viable organization OPC <br /> Foundation shall convey the Property to the County by general warranty deed, free <br /> and clear of all liens and encumbrances of record except those which create a <br /> beneficial interest in County (Declaration of Restrictive Covenants and Deed of <br /> Trust). <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'and thirty(30) days grace period <br /> 4 <br />