HOMEOWNER REQUIRED Sample Clauses

HOMEOWNER REQUIRED. TO MAKE NECESSARY REPAIRS AT TRANSFER: The Homeowner is required to make necessary repairs when she voluntarily before transferring the Home, as follows: a) The person(s) purchasing the Home (“Buyer”) shall, prior to purchasing the Home, hire at Buyer’s sole expense a building inspector with a current Home Inspector license from the State of Washington (Department of Licensing), to assess the condition of the Home and prepare a written report of the condition (“Inspection Report”). The Homeowner shall cooperate fully with the inspection. b) The Buyer shall provide a copy of the Inspection Report to Buyer’s lender (if any), the Homeowner, and the MHT within 10 days after receiving the Inspection Report. c) Homeowner shall repair specific reported defects or conditions necessary to bring the Home into full compliance with Sections 4.2 and 7.5, above, prior to transferring the Home. d) Homeowner shall bear the full cost of the necessary repairs and replacements. However, upon Homeowner’s written request, the MHT may allow the Homeowner to pay all or a portion of the repair costs after transfer, from Homeowner’s proceeds of sale, if Homeowner cannot afford to pay such costs prior to the transfer. In such event, either (i) 150% of the unpaid estimated cost of repairs or (ii) 100% of the unpaid cost of completed repairs shall be withheld from Homeowner’s proceeds of sale in a MHT-approved escrow account. Also, upon Homeowner’s written request, MHT may, at its discretion, agree to release funds from the External Repair and Replacement Reserve Fund to cover some or all of the cost of such repairs, provided that such use of the Reserve is in full compliance with Section 7.6 above. e) Homeowner shall allow MHT, Buyer, and Xxxxx’s building inspector and xxxxxx’s representative to inspect the repairs prior to closing to determine that the repairs have been satisfactorily completed. f) Upon sale or other transfer, Homeowner shall either (i) transfer the Home with all originally purchased appliances or replacements in the Home in good working order or
Sample 1

Related to HOMEOWNER REQUIRED

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