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d. Resale Provieiove. The Town shall assure campliauce wi16 eRordeb0ity o£assisted units <br />Nrovgb the Declemfiov aY Rnslalcrlve Coven®rs. The Deelaretiov of ReshicLVe <br />Covenants shall include at least the following elements in (heir resale provieione tae the <br />lmprovomcrts'. , <br />4.1 IfOe bvyerne longer uses Ne Propctly ae renml property or is unable m wntinue <br />ersldp, then the buyer most selAtrans[ar,orothorwisa dispose ofrheir interest <br />n the Property Duly [o an agency with aimilar intense in aRordnble M1omivg evd <br />ve Nmilies with inwmes nor exceeding BO% of Ne rota mrAian household <br />m< by family size, as detertnmcd by the U.S. Depatmten[ of Housing and <br />into <br />Urban oevelopmevt at the time of the rmns[er. The von-profit flurd, foundation, <br />or oorpomnov of Gke yurposes must have wmbliahed Its [ax-exempt status nudes <br />Sermon 501 (a)(d)of the lntemal RCVCVVC Code <br />42 Iiow if the property L not sold, bansfeneQ o otherwise ~tispoeed to s <br />vcy wiA similar inmrest in at£ordable housing during Ne term of affordability, <br />the Right of Fimr Reveal provision of the County's Long-TCnn Housing <br />AffoMability Policy must be followed and the net sales proceeds (aales price less <br />(i) selling cosq (2) the unpaid principal amount of We oeiginal Ever mortgage and <br />(3) the unpaid principal amount of [hCivitiel County covvibutiov evd euy other <br />initSal goo umurt wnhibution sewmd by a de[cmcd paymeu[ promissory note <br />and deed of tryst) or "equity" will be divided 50/50 by the seller of the Property <br />evd Ole Cour~q_ <br />43 The msale prevision shall rotmin iv etkct fur the NII afordability period - 99 <br />years. <br />5. MisreRaneooe Pravklons, <br />TermiuaHOn of Agreement The full brnefr of the PmjeM will be realized only <br />after Ne completion of the atTocdabdiry peciads foe all properties oonstmctad with fords previde <br />aflbrdeWe unit m low iuwme YaMlies. R is the Cowry's inlentlon ihetthe Pollpublic banefiv of <br />this pryjmr dull be eomplamd under Ne auspices of The Tawn for fie assisted units es [allows. <br />~. Iv Ne even[ Nat The Pown is unable le proceed wish any aspect of [ha Projwt in e <br />timely mameq evd Comry and The Town detemdne that rcesouable extevsiov(s) for <br />wmplMion will rim remedy the simadon, Ihev The Tawn will revin rnponsibility for <br />mquiremems far any dwellwg units assisted rind County will make no tvnher <br />paynuvts to The Tawn. <br />~i. N Ne even[ that The Town, prior b the wnM1atl cnmylellon d¢m, is unable b <br />antinue m thnMiov due to, but, not limimd w, dleaolution or Insolvency of the <br />organleatiou, its filing v PedOOV fbcbardvup[cy or similar pwoaedivgs, or is adjvdgcA <br />bankrupt or fails m comply or patbnn with provisions of thia egreemevt, Nan The <br />Tuwv shall, upon the County's roquest wvvcy [o Ne County Ore properties v'sistcd <br />