Common use of Occupancy of Unit Clause in Contracts

Occupancy of Unit. If Purchaser has initialed this section below, then Purchaser hereby represents and warrants to Seller that Purchaser is acquiring the Unit with the intent to occupy such Unit as Purchaser’s primary or secondary residence for a period of not less than one (1) year beginning on the Closing Date. Purchaser acknowledges that Seller will rely on Purchaser’s representation if Seller elects to seek approval of the Condominium project by FannieMae, FreddieMac or the Department of Housing and Urban Development. If Purchaser has initialed this section below, Purchaser shall provide Seller with evidence from Purchaser’s lender that Purchaser is purchasing the Unit as Purchaser’s primary or secondary residence by no later than thirty (30) business days prior to the Closing Date. Purchaser’s Initials: ________/________ 11.2.Anti-Terrorism Laws. Purchaser represents and warrants to Seller that: (a) Purchaser is not named, and is not acting, directly or indirectly, for or on behalf of any person, group, entity, or nation named by the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub L 107-56, 115 Stat 272 (“USA Patriot Act”), Executive Order No. 13224 or any other Executive Order or the United States Treasury Department as a terrorist, “Specially Designated Nation and Blocked Person,” or other banned or blocked person, entity, nation, or transaction pursuant to any law, order, rule or regulation that is enforced or administered by the Office of Foreign Assets Control (“Blocked Person”); (b) Purchaser is not engaged in this transaction, directly or indirectly on behalf of, or instigating or facilitating this transaction, directly or indirectly on behalf of, any such Blocked Person; and (c) Purchaser’s full, legal, and complete name(s) set forth above. Purchaser is not known as, and does not employ any other names or aliases. Purchaser shall deliver to Seller a valid passport, valid driver’s license or other identification issued by the Department of Motor Vehicles. In the event Xxxxxx learns that Xxxxxxxxx’s name appears on the list of Blocked Persons maintained by the Office of Foreign Assets Control, Seller reserves the right to delay the closing contemplated by this Agreement pending Seller’s investigation into the matter. If Seller is advised and/or determines that Purchaser is a Blocked Person, Seller reserves the right to terminate this Agreement and/or to take all other actions necessary to comply with the requirements of the Executive Order. The provisions of this Section 11.2 will survive closing and/or termination of this Agreement.