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7.14.4.4 <br />approve the lease. In addition, the term of the <br />lease shall be for a minimum period of two years. <br />h. Violation of any of the terms of the contract <br />required by this ordinance may constitute grounds for <br />revocation of the Special Use Permit and rezoning of <br />the land, as provided in Article 7.9 of this <br />Ordinance. <br />Contract for Rental of Duplex or Multi -family Units <br />Approval of the Special Use Permit shall not occur until <br />there is a contract between the property owner or <br />developer and Orange County, which shall also be binding <br />on future owners of the development. The contract shall <br />be administered by HCD, and shall include the following <br />provisions: <br />a) All rentals shall be approved by (HCD) to assure <br />occupancy by qualifying households in accordance with <br />the following eligibility criteria. <br />i) Family income, as defined in Article 22 of this <br />Ordinance, at the time of purchase shall not <br />exceed the limits set forth in Article 7.14.4.2. <br />Qualifying renters may also own up to $5,000 in <br />net assets, as defined in Article 22 of this <br />Ordinance, at the time of initial rental. <br />ii) At least one member of a qualifying household <br />must have lived or worked in Orange County for <br />the past 12 months. <br />iii) Families whose income increases above the <br />eligibility requirements may continue to occupy <br />the rental unit, unless otherwise required <br />through terms of the rental agreement between <br />the lessor and lessee. <br />b. Every change in occupancy during the 15 -year term of <br />the contract shall be approved by HCD to assure <br />continued compliance with eligibility criteria. <br />c. The maximum rent allowed shall be computed by <br />multiplying the applicable percentage of median <br />income by the value of median income at the time of <br />the transaction, then multiplying the resulting value <br />by the maximum percentage of income spent for <br />housing, as recommended by the mortgage banking <br />industry. <br />The value for median income used in calculating <br />maximum allowable rent shall be adjusted to reflect <br />the maximum family size appropriate for the number of <br />