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designated Eligible Purchaser or by the City itself within the next ninety days following the <br /> date the City decides to execute its option to purchase. Notwithstanding the provisions of <br /> Sections 5 and 6 of this Restrictive Covenant, Owner has the right to withdraw the Owner's <br /> Notice, and to terminate the escrow, within ten (10) days following the City's receipt of the <br /> Owner's Notice. <br /> <br /> 7. Unrestricted Transfer by Owner. In the event the City does not exercise its <br /> <br />option to designate an Eligible Purchaser to purchase the Property or to purchase the <br />Property itself pursuant to Section 6, above, Owner must transfer the Property to an Eligible <br />Purchaser. If, however, Owner has experienced a job loss, death in Owner's immediate <br />family, divorce, or other extenuating circumstance which has caused Owner financial distress <br />such that Owner believes that the Property must be told, the City may in its sole discretion <br />repurchase immediately without an Eligible Purchaser. <br /> <br /> 8. Eligible Purchaser. A prospective purchaser of the Property shall meet the <br />then-current requirements established by the City in order to be deemed an Eligible <br />Purchaser under this Restrictive Covenant. The current requirements established by the City <br />are attached as Exhibit "A." However, it must be noted these requirements are subject to <br />change by the City. <br /> <br /> 9. Determination of Maximum Sale Price. The maximum sale price that Owner <br /> <br />shall receive for any transfer of the Property to an Eligible Purchaser shall be called the <br />"Purchase Price" and shall be the purchase price that Owner paid for the Property, adjusted <br />by the percentage increase or decrease of the median income of a four-person household in <br /> <br /> - 5 - <br /> <br /> <br />