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the CHT portfolio. CHT staff will provide input on any affordable housing <br />proposals or options if requested by the Towns or County. <br />b. The County and Towns agree to consult with the CHT staff prior to implementing <br />policies or regulations that will impact CHT's work. <br />5. Operating Guidelines <br />a. Unrestricted Fee Simple Deed of Trust <br />The Towns and the County agree to allow use of an unrestricted fee simple deed of <br />trust on CHT properties to facilitate greater lending options to CHT buyers. If a CHT <br />home is foreclosed upon, the Towns and County agree to cancel all affordability <br />restrictions recorded against the property and the home would be sold by the lien <br />holder on the open market. <br />b. Resale of CHT homes <br />A CHT home subsidized by local or Community Development Block Grant funds <br />may be resold to households earning up to 115% of the AMI without a requirement of <br />repaying local funds. Homes sold to households earning up to 115% of AMI will <br />continue to be required to maintain the affordability requirements consistent with the <br />elected bodies at that time. <br />CHT will notify the appropriate jurisdiction prior to exercising this provision and will <br />report the resale in its quarterly reports. <br />c. Selling CHT homes out of the affordable housing inventory <br />The Towns and County acknowledge that there could be properties that the CHT <br />would want to sell from its inventory. Prior to selling a home out of its inventory, the <br />CHT would consult with the appropriate jurisdiction(s) to discuss the challenges of <br />the property and options for consideration (i.e. subsidy repayment, legal implications <br />with Special/Conditional Use Permits)he Towns and County agree that the Managers <br />shall have the authority to approve sale of homes outside of the affordable housing <br />inventory and will notify its elected officials. <br />Section IV. Execution <br />A. All governing boards have duly approved this Agreement and pursuant to such approval <br />and the proper officials having signed this Agreement. The parties hereto agree to be <br />bound by the provisions herein set forth. The terms and provisions of this Agreement are <br />authorized by applicable laws and regulations. <br />The County and Towns have authorized this Agreement to be duly executed under seal and have <br />set their hands and seals on the day and year specified below. <br />DocuSign Envelope ID: 661EAD7F-FE47-4A45-B444-58DD5423D410