16. GUIDELINES WHEN SELLING YOUR APARTMENT Below are the Corporation's current minimum financial requirements for prospective purchasers: 1-Annual income must be a least seven (7) times the total of the annual maintenance charges plus two (2) times your annual mortgage payments, if any. Additionally, other annual debt will be deducted from the annual gross salary and a percentage of assets will be added to the gross salary. 2- Cooperative loan financing is limited to a maximum of eighty (80%) percent of the purchase price. 3-Income must be verifiable by form 1040 Federal and Statelcity IT-201 income tax returns for the past two years for each applicant (Employer W-2 wage forms required). 4- Work history must be verifiable and show stability for each applicant. A credit and background search may be obtained for each applicant.