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(d) Act as a conduit for all requests of prospective purchasers by quickly responding to requests for additional information from the owner and forwarding that information immediately upon receipt. F. COMPLETION OF QUALIFIED CONTRACT PROCESS 1. If MHFA has identified a prospective purchaser, it will present to the owner, a qualified contract as defined in IRC Section 42(h). 2. If the owner accepts and the property is sold, notify MHFA of the transfer of ownership by submitting the Notice of Intent to Transfer Ownership or Change Owner Name or Status (HTC 27) along with accompanying documentation. 3. If MHFA is unable to locate a purchaser who will continue to operate the property as low- income, the owner will be notified that the extended -use period will terminate. However, pursuant to IRC Section 42(h)(6)((E)(ii), existing residents will continue to have the right to rent at the restricted rent levels and may not be evicted or have tenancy terminated for other than good cause for a period of three years following the termination of the extended use period. During this 3 -year period, owners are required to annually submit the Tax Credit Summary Report (HTC 13) to MHFA listing all low- income households that occupied a unit at the termination of the extended use period, the respective tenant -paid rent, utility allowance, and move -out date, if applicable, along with a certification that no low- income residents have been evicted or displaced for other than good cause. This report and certification will be due on February 15th or the next business day. No monitoring fees will be due during this 3 -year period and MHFA is not required to perform inspections. Housing Tax Credit Program 7 Qualified Contract Process Guide (rev.12 /05)