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value or (2) the seller's lawful purchase price, increased by the lesser of (i) the rate of increase of Area Median Income during the seller's ownership or (ii) the rate at which the consumer price index increased during the seller's ownership. To the extent authorized in any resale restrictions or operative Density Bonus Housing Agreement, sellers may recover at time of sale, the market value of capital improvements made by the seller and the seller's necessary and usual costs of sale, and may authorize an increase in the maximum allowable sales price to achieve such recovery feasible; 6. Title in the Target Unit may change due to changes in circumstance, including death, marriage and divorce. Except as otherwise provided, if a change in title is occasioned by events that change the financial situation of the Household so that it is no longer income-eligible, then the property must be sold to an income-eligible Household within 180 days. Upon the death of one of the owners, title in the property may transfer to the surviving joint tenant without respect to the income- eligibility of the Household. Upon the death of a sole owner or all owners and inheritance of the Target Unit by anon-income-eligible child or step child of one or more owners, there will be a one year compassion period between the time when the estate is settled and the time when the property must be sold to an income-eligible Household. Inheritance of an Target Unit by any other person whose Household is not income-eligible shall require resale of the unit to an income- eligible Household as soon as is feasible but not more than 180 days; and 7. Target Units shall remain owner occupied. No renting or leasing shall be allowed. C. In the case of rental Housing Developments, the Density Bonus Housing Agreement shall provide for the following conditions governing the use of Target Units during the use restriction period: 1. Rental units will be offered to eligible Households at an Affordable Rent. The owner of rental Target Units shall certify each tenant Household's income to the City or City's designee at the time of initial rental and annually therea$er. The owner must obtain and review documents that demonshate the prospective renter's total income, such as income tax returns or W-2s for the previous calendar year, and submit such information on a form approved by the Ciry. 2. Selection of Tenants. The owners of rental Target Units may fill vacant units by selecting income~ligible Households from the Section 8 Housing Choice Voucher Waiting List maintained by the Alameda County Housing Authority or any other list maintained by the Ciry or City's designee. Alternatively, owners may fill vacant units through their own selection process, provided that they ORDIN ANCE NO. 2004-017 9