LEASE FEE WILL BE INCREASED IF RESTRICTIONS ARE REMOVED Sample Clauses

LEASE FEE WILL BE INCREASED IF RESTRICTIONS ARE REMOVED. If, for any reason, the provisions of Article 10 regarding transfers of the Home and Leased Land or Sections
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LEASE FEE WILL BE INCREASED IF RESTRICTIONS ARE REMOVED. If, for any reason, the provisions of Article 10 regarding transfers of the Home or Sections 4.4 and 4.5 regarding occupancy and subleasing are suspended or invalidated for any period of time, then during that time the Fee shall be increased to an amount calculated by HCHT to equal the fair rental value of the Leased Land for use not restricted by the suspended provisions, but initially an amount not exceeding five hundred dollars ($500.00), an amount that shall be increased at a total annual percentage increase of two and one-half percent (2.5%). Such increase shall become effective upon HCHT’s written notice to Homeowner. Thereafter, for so long as these restrictions are not reinstated in the Lease, HCHT may, from time to time, further increase the amount of such Lease Fee, provided that the amount of the Lease Fee does not exceed the fair rental value of the property, and provided that such increases do not occur more often than once every year.
LEASE FEE WILL BE INCREASED IF RESTRICTIONS ARE REMOVED. If, for any reason, the provisions of Article 10 regarding transfers of the Home or Sections 4.4 and 4.5 regarding occupancy and subleasing are suspended or invalidated for any period of time, then during that time the Fee shall be increased to an amount calculated by HCHT to equal the fair rental value of the Leased Land for use not restricted by the suspended provisions, but initially an amount not exceeding five hundred dollars ($500.00), an amount that shall be increased at a total annual percentage increase of two and one-half percent (2.5%). Such increase shall become effective upon HCHT’s written notice to Homeowner. Thereafter, for so long as these restrictions are not reinstated in the Lease, HCHT may, from time to time, further increase the amount of such Lease Fee, provided that the amount of the Lease Fee does not exceed the fair rental value of the property, and provided that such increases do not occur more often than once every year. For this section, HCHT shall determine the fair market value of the Home, and in doing so, HCHT shall have the benefit of the legal presumption that the fair market value it determines is reasonable, which the Homeowner must overcome by clear and convincing evidence.

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  • AGE RESTRICTION You must be at least 18 (eighteen) years of age to use this Website or any Services contained herein. By using this Website, You represent and warrant that You are at least 18 years of age and may legally agree to this Agreement. The Company assumes no responsibility or liability for any misrepresentation of Your age.

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