Common use of Option to Repurchase, Reenter and Repossess Clause in Contracts

Option to Repurchase, Reenter and Repossess. (a) The County has the additional right at its option to repurchase, reenter and take possession of the Property or any portion thereof owned by the Developer with all improvements thereon, if after conveyance of title to any portion of the Property and prior to the issuance of the Certificate of Completion for the Improvements, there is a Developer Event of Default pursuant to Section 7.4. (b) Such right to repurchase, reenter and repossess, to the extent provided in this Agreement, is subordinate and subject to and limited by and not defeat, render invalid or limit: Agreement; or (1) Any Approved Security Interest Assignment permitted by this (2) Any rights or interest provided in this Agreement for the protection of the holder of such Approved Security Interests. (c) To exercise its right to repurchase, reenter and take possession with respect to the Property owned by the Developer, the County must pay to the Developer in cash an amount equal to: the Property; plus (1) The purchase price paid to the County for the applicable portion of (2) The fair market value of the improvements existing on the applicable portion of the Property at the time of the repurchase, reentry and repossession; less (3) Any gains or income withdrawn or made by the Developer from the applicable portion of the Property or the improvements thereon; less (4) The value of any unpaid liens or encumbrances on the applicable portion of the Property which the County assumes or takes subject to said encumbrances.

Option to Repurchase, Reenter and Repossess. (a) The County has the additional right at its option to repurchase, reenter and take possession of the Property or any portion thereof owned by the Developer with all improvements thereonthereon (the "Option to Purchase"), if after conveyance in the event that, following Close of title to any portion Escrow, there is an Event of the Property Default and such Event of Default occurs prior to the issuance of the a Certificate of Completion for the Improvements, there is a Developer Event of Default pursuant to Section 7.4. (b) Such right To exercise the Option to repurchasePurchase, reenter and repossess, the County shall pay to Developer the extent provided in this Agreement, is subordinate and subject to and limited by and not defeat, render invalid or limit: Agreement; or amount of One Hundred Dollars (1) Any Approved Security Interest Assignment permitted by this (2) Any rights or interest provided in this Agreement for the protection of the holder of such Approved Security Interests$100.00). (c) To exercise Upon vesting in the County of title to all or a portion of the Property, the County shall use its right best efforts to repurchaseresell it, reenter and take possession with respect subject to a requirement that the Property owned be developed in accordance with this Agreement. Upon any resale of the Property or portion thereof by the County, the County shall apply such sale proceeds as follows: (i) To Developer, the County must pay to the Developer in cash an amount equal to: the Property; plus (1) The purchase price paid to the County for the applicable portion of (2) The fair market value of the any improvements existing on the applicable portion of the Property at the time of the repurchase, reentry and repossession; less (31) Any gains or income withdrawn or made by the Developer from the applicable portion of the Property or the improvements thereon; less (42) The value of any unpaid liens or encumbrances on the applicable portion of the Property which the County assumes or takes subject to said encumbrances. (ii) The remaining sale proceeds, if any, shall be retained by the County.

Option to Repurchase, Reenter and Repossess. (a) The County has the additional right at its option to repurchase, reenter and take possession of the Property or any portion thereof owned by the Developer with all improvements thereonthereon (the "Option to Purchase"), if after conveyance in the event that, following Close of title to any portion Escrow, there is an Event of the Property Default and such Event of Default occurs prior to the issuance of the a Certificate of Completion for the Improvements, there is a Developer Event of Default pursuant to Section 7.4. (b) Such right To exercise the Option to repurchasePurchase, reenter and repossess, the County shall pay to Developer the extent provided in this Agreement, is subordinate and subject to and limited by and not defeat, render invalid or limit: Agreement; or amount of One Hundred Dollars (1) Any Approved Security Interest Assignment permitted by this (2) Any rights or interest provided in this Agreement for the protection of the holder of such Approved Security Interests$100.00). (c) To exercise Upon vesting in the County of title to all or a portion of the Property, the County shall use its right best efforts to repurchaseresell it, reenter and take possession with respect subject to a requirement that the Property owned be developed in accordance with this Agreement. Upon any resale of the Property or portion thereof by the County, the County shall apply such sale proceeds as follows: (i) To Developer, the County must pay to the Developer in cash an amount equal to: the Property; plus (1) The purchase price paid to the County for the applicable portion of (2) The fair market value of the any improvements existing on the applicable portion of the Property at the time of the repurchase, reentry and repossession; less (31) Any gains or income withdrawn or made by the Developer from the applicable portion of the Property or the improvements thereon; less (42) The value of any unpaid liens or encumbrances on the applicable portion of the Property which the County assumes or takes subject to said encumbrances. (ii) The remaining sale proceeds, if any, shall be retained by the County.

Option to Repurchase, Reenter and Repossess. (a) The County has the additional right at its option to repurchase, reenter and take possession of the Property or any portion thereof owned by the Developer Borrower with all improvements thereonthereon (the "Option to Purchase"), if after conveyance in the event that, following Close of title to any portion Escrow, there is an Event of the Property Default and such Event of Default occurs prior to the issuance of the a Certificate of Completion for the Improvements, there is a Developer Event of Default pursuant to Section 7.4. (b) Such right To exercise the Option to repurchasePurchase, reenter and repossess, the County shall pay to the extent provided in this Agreement, is subordinate and subject to and limited by and not defeat, render invalid or limit: Agreement; or (1) Any Approved Security Interest Assignment permitted by this (2) Any rights or interest provided in this Agreement for the protection of the holder of such Approved Security Interests.Borrower the (c) To exercise its right Upon vesting in the County of title to repurchase, reenter and take possession with respect to all or a portion of the Property owned by the DeveloperProperty, the County must pay shall use its best efforts to resell it, subject to a requirement that the Developer Property be developed in cash an amount equal to: accordance with this Agreement. Upon any resale of the Property; plusProperty or portion thereof by the County, the County shall apply such sale proceeds as follows: (1i) The purchase price paid to To Borrower, the County for the applicable portion of (2) The fair market value of the any improvements existing on the applicable portion of the Property at the time of the repurchase, reentry and repossession; less (31) Any gains or income withdrawn or made by the Developer Borrower from the applicable portion of the Property or the improvements thereon; less (42) The value of any unpaid liens or encumbrances on the applicable portion of the Property which the County assumes or takes subject to said encumbrances. (ii) The remaining sale proceeds, if any, shall be retained by the