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All approved and denied applicant files for the NSP CDBG rental program shall be kept and maintained at the office(s) of the selected non-profit or for profit organizations, and those files shall be available for county review when requested. Any organization(s) chosen through a request for proposal process to purchase, rehabilitate, own and manage NSP acquired rental properties must have at minimum of five (5) years experience in the management of federal or state funded rental properties. Each NSP rental property will be purchased by one of the selected non-profit or for profit organizations. On each rental property purchased and rehabilitated with NSP funds, the local government will place a deed restriction. The deed restriction placed on the rental property; will require that the property remain affordable during the fifteen (15) year period to the specified Area Median Income (AMI) group that it is targeted to. The deed restriction will be for a period of fifteen (15) years and will prohibit transfer of the property from the non-profit organization. If the terms of the deed restriction are violated, the total amount of NSP funds expended for the property shall be due and payable. All rents will be affordable based upon the tenant's income and HUD's Annual Fair Market rent limits. Transfer of title from one non-profit or for-profit entity to another non-profit or for-profit entity, for essentially the same uses and purposes as the originally intended uses and purposes, will not constitute a violation of the deed restriction. All requirements placed on the original non-profit or for-profit entity shall flow down to any qualified subsequent non-profit or for-profit entity of NSP properties. The non-profit or for-profit entity desiring to transfer title to another non-profit or for-profit entity must obtain approval of the transfer from the Indian River County Board of County Commissioners a minimum of sixty (60) days prior to transfer of title. The qualified subsequent purchaser must become a named party to the Agreement between Indian River County and the original non-profit or for-profit entity. 3. ACQUISITION PURCHASE ASSISTANCE With respect to the acquisition purchase assistance strategy, a notice will be place in a newspaper with local circulation advising all local owners of foreclosed or abandoned properties, including lending institutions, of the availability of the NSP program and of the local government's intent to purchase foreclosed, abandoned, blighted and deed in lieu of foreclosure properties. By utilizing information obtained from the County Clerk's office, information obtained from Realty Trac, information obtained from various financial institution web sites, and information provided by the owners of eligible properties, the local government will compile a pool of eligible properties. A request for proposals will be published to solicit local non-profit and for profit organizations that wish to assume the role as sub -recipients or developers in the local 9