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19 <br /> 5.2 However, If me property is not sold, tranxfaed, or otherwise disposal of to as <br /> agency with similar tourist in affordable housing during the torn ofaffoNamlity, <br /> the Right of First Remaal provision of the County's Wag-Tam Housing <br /> Affordability Policy must be followed and the net sales proceeds(sales price less: <br /> (1)seffeg cost,(2)Poe mpaid imperial amount ofthe reliant flrot mortgage and <br /> (3)the unpaid principal amomt of me initial Court contribution and any other <br /> initial government contribution segued by a deferned paymmt promissory note <br /> and decd of trust) or"equity"will be divided 50150 by the sells of the Property <br /> and the County. <br /> 53 no reside provision droll recurs in abroad for the poll perm ability period — 99 <br /> years. <br /> b. hLseellowum Provisions. <br /> Termination ofAgreemmt.The fall benefit of the project will be realized only <br /> after me completion of due affordability psi far all properties constructed with fords provide <br /> afirrdable wily b low-inmrnef ifies.It is the Conveysinteation tat the fall public homit of <br /> this promer stall be completed modest the auspice ofRSl for the assisted units as felloe's, <br /> i. In floe event that RSf is unable to proceed with my rips[of the Protect in a hmdly <br /> and County and RSI determine met reasonable ey'ten omm)fop completion <br /> will not remedy Nab consumer than RSI will retain responsibility for readeasmeng for <br /> any dwelling units assisted.mtl County will make no Rubber forswore m RSI. <br /> d In the event that RSl,prior to the contract completion date,is marble to continue to <br /> function due be but,not umital to,dissolution or insolvency of the organization,its <br /> filing a position for bwdarrotry or similar proceedings,or is adjudged baokmpt or <br /> fails to comply or perform with provrmons of this agreement,Nan RSI mWL upon the <br /> Comry's requed.convey to the Cmmbethe drommes insisted with funds. <br /> Conveyance shall he d the sole discction of County and on adevel ling malt by <br /> - dwelling unit basis <br /> Convryance ofpropmim shill be onmeLama act RA brown, <br /> Conveyance of properties shall mew within thirty (30) days of County and R fs <br /> agrcenrmt ofRSPs inability to continue as a viable information,RSI ahofi convey-the <br /> subject properties to Crowd by general wananry,dad, Gee and clean of all liens and <br /> munbrmecs of record eeapt three which award a beneficial interest in County <br /> (Dxlzrmirn ofRestrrhve Covenants and Deed of Trust). <br /> b. Deflook Remedies, This Agreement may he terminated by a non-aefoulting <br /> party upon an even( of default hereunder, after woman notice mmwf and (arty (30) days Face <br /> permit in which me defaulting party may act to sue_ ow used homm, the tern "an en( of <br /> defrvh" shall meat and refer to a Failure or set of omission by eimer party wim reaps[to my <br /> undertaking, obligation, moment or munition as set frM in this Agfec rent With respect W <br /> 19 <br />