First Homes Sample Clauses

First Homes. 4.1 The First Homes shall be marketed for sale and shall only be sold (whether on a first or any subsequent sale) as First Homes to a person or person(s) meeting: 4.1.1 the Eligibility Criteria (National); and 4.1.2 the Eligibility Criteria (Local) 4.2 If after a First Home has been actively marketed for 3 months (such period to expire no earlier than three (3) months prior to Practical Completion) it has not been possible to find a willing purchaser who meets the Eligibility Criteria (Local), paragraph 4.1.2 of this Schedule shall cease to apply. 4.3 Subject to paragraphs 4.6 to 4.10 of this Schedule, no First Home shall be Disposed of (whether on a first or any subsequent sale) unless not less than 50% of the purchase price is funded by a first mortgage or other home purchase plan with a Mortgagee 4.4 No First Home shall be Disposed of (whether on a first or any subsequent sale) unless and until the Council has been provided with evidence that: 4.4.1 the intended purchaser meets the Eligibility Criteria (National) and unless paragraph 4.2 applies meets the Eligibility Criteria (Local) 4.4.2 the Dwelling is being Disposed of as a First Home at the Discount Market Price and 4.4.3 the transfer of the First Home includes: a) a definition of the “Council” which shall be the Council b) a definition of "First Homes Provisions" in the following terms: “means the provisions set out in clause 4.1 to 4.9, 4.12, 5 and 6 of the S106 Agreement a copy of which is attached hereto as the Annexure.” c) a definition of “S106 Agreement” means this Deed
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First Homes. Obligations Unless otherwise agreed in writing by the Council, the Owner for and on behalf of itself and its successors in title to the Site with the intention that the following provisions shall bind the Site and every part of it into whosoever's hands it may come covenants with the Council as below save that paragraphs 2, 3, 4 and 5 of this Part 2 shall not apply to a First Homes Owner; paragraphs 6 and 7 of this Part 2 apply as set out therein but and for the avoidance of doubt where a First Home is owned by a First Homes Owner they shall apply to that First Homes Owner only in respect of the First Home owned by that First Homes Owner; and Paragraph 8 of this Part 2 applies as set out therein QUANTUM The quantity of Affordable Housing Units on the Site identified reserved and set aside as First Homes in the approved Affordable Housing Scheme shall be provided and retained as First Homes in perpetuity subject to the terms of this Schedule.
Sample 1
First Homes. 3.1 The Owner for and on behalf of itself and its successors in title to the Site with the intention that the following provisions shall bind the Site and every part of it into whosoever’s hands it may come covenants with the Council as follows save that: (1) paragraphs 3.2, 4, 5 and 6 of Schedule 2 shall not apply to a First Home Owner; (2) paragraphs 6 and 7 of Schedule 2 apply as set out therein but and for the avoidance of doubt where a First Home is owned by a First Home Owner they shall apply to that First Home Owner only in respect of the First Home owned by that First Home Owner; and (3) clause 12.3 applies as set out therein.
Sample 1
First Homes. 1. Unless otherwise agreed in writing by the Council, the Owner for and on behalf of itself and its successors in title to the Land with the intention that the following provisions shall bind the Land and every part of it into whosoever's hands it may come covenants with the Council as below save that 1.1 paragraphs 1.3, 1.4 and 1.5 of Part 1 of the Second Schedule of the Second Schedule shall not apply to a First Homes Owner; 1.2 paragraphs 2 and 3 of Part 8 of the Second Schedule apply as set out therein but and for the avoidance of doubt where a First Home is owned by a First Homes Owner they shall apply to that First Homes Owner only in respect of the First Home owned by that First Homes Owner[78] ; and [78] We are aware that it is the practice of some LPAs to agree ‘carve-out’ clauses, usually in the front- end of a s.106 agreement, providing that residential purchasers are generally not liable for compliance with the obligations in the s.106 agreement. However, this drafting contains certain obligations which must bind residential purchasers as successors in title; specifically, provisions which are designed to ensure that the First Homes remain discounted and subject to the sales and lettings restrictions in 1.3 Paragraph 6.4 of Part 1 of the Second Schedule applies as set out therein.
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First Homes 
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