Sale by Owner. Whenever the Owner shall sell or convey its interest in a Property or any part thereof, the obligation to pay any Leasing Fees under this Leasing Agreement from and after the date of such sale shall cease as of the date of such sale, provided that the Company shall not be absolved from liability for Leasing Fees earned, payable or due hereunder as of such date.
Sale by Owner. 42 25.1 Notice........................................................42 25.2 Constructive Notice and Acceptance............................43 25.3
Sale by Owner. Upon the sale, transfer, conveyance or assignment by any Owner of its right, title and interest in its Parcel, the following shall apply:
Sale by Owner. In the event of a sale, conveyance or other disposition of all or any portion of Owner's interest in the Property at which the lease is made, Owner shall remain responsible to pay C&W the commissions due and/or which may become due hereunder, unless Owner shall obtain from the grantee of its interest and deliver to C&W an agreement whereby the grantee assumes Owner's commission obligations hereunder. Exceptions: In the event Owner enters into a binding agreement with Amayzing Foods, Radwell International or Artica (Exceptions) within 30 days from the date of this agreement, no commission shall be due to C&W. However, Owner agrees to reimburse C&W for all out-of-pocket expenses not to exceed $1,500. If Owner enters into a binding agreement with one of the Exceptions between 31-60 days from the date of this agreement, Owner shall pay a commission equal to fifty percent (50%) of the amount outlined above to C&W. After 60 days from the date of this agreement, any binding agreement with the Exceptions shall be paid at the full rate outlined above.
Sale by Owner. In the event of a sale, conveyance or other disposition of all or any portion of Owner's interest in the Property at which the lease is made, Owner shall remain responsible to pay C&W the commissions due and/or which may become due hereunder, unless Owner shall obtain from the grantee of its interest and deliver to C&W an agreement whereby the grantee assumes Owner's commission obligations hereunder. Exceptions: In the event Owner enters into a binding agreement with Amayzing Foods, Radwell International or Artica (Exceptions) within 30 days from the date of this agreement, no commission shall be due to C&W. However, Owner agrees to reimburse C&W for all out-of-pocket expenses not to exceed
Sale by Owner. If the Owner sells or otherwise transfers its interest in the Complex or the Lands, or both, to an unaffiliated party, then the Owner may without further written agreement be released from all of its obligations in this Agreement subsequent to paying to the Operator a pro rata fee equal to the remaining number of years in the Term, excluding any possible extensions, multiplied by $3 million if during the first two years of the Term of this Agreement, $2 million if during the next two years of the Term of this Agreement, or $1.5 million if during the final year of the Term of this Agreement, and by settling any and all costs that the Operator may incur as a result of the termination, including, but not limited to, all severance costs for Operator’s personnel associated with the Operation reasonably required by law or contract .
Sale by Owner. If Owner desires to sell, exchange, quitclaim or in any manner dispose of the Property or any part thereof (“Proposed Sale”), Owner shall notify Agency in writing no later than ten (10) days prior to the date the Property is placed on the market for a Proposed Sale. Owner shall not sell or transfer the Property until such time as Agency has determined (i) the proposed buyer intends to occupy the Property as its principal residence; (ii) the proposed buyer is a Qualified Purchaser and eligible under the Housing Guidelines; and (iii) the Proposed Sale is at an Affordable Housing Cost (excluding the Agency Loan assumed by the buyer). Owner shall cooperate with and reasonably assist Agency with the determination of whether a proposed buyer is a Qualified Purchaser. In order to verify the buyer’s status as a Qualified Purchaser, Owner shall submit to Agency the identity of the proposed buyer and adequate information evidencing the income of the proposed buyer. Said income information shall be submitted not less than thirty (30) days prior to the Proposed Sale and shall include original or true copies of pay stubs, income tax records or other financial documents in order that Agency may determine and verify the household income of the proposed buyer to determine Qualified Purchaser status and whether the Property is available to such buyer at an Affordable Housing Cost (excluding the Agency Loan assumed by the buyer). Agency may request additional information reasonably required to verify the proposed buyer’s status. OWNER UNDERSTANDS THE DETERMINATION OF THE AFFORDABLE HOUSING COST CAN BE MADE ONLY AT THE TIME OF THE PROPOSED SALE, TAKING INTO CONSIDERATION INTEREST RATES, THE TERMS OF SALE OFFERED TO AND THE ECONOMIC CIRCUMSTANCES OF THE PROPOSED PURCHASER AND OTHER FACTORS THAT CANNOT BE ACCURATELY PREDICTED, AND THE TRANSFER PRICE PERMITTED HEREUNDER WILL BE LESS THAN THE FAIR MARKET VALUE OF THE PROPERTY AND MAY NOT INCREASE OR DECREASE IN THE SAME MANNER AS OTHER SIMILAR REAL PROPERTY WHICH IS NOT ENCUMBERED BY THE AFFORDABILITY COVENANTS IN THIS AGREEMENT. OWNER FURTHER ACKNOWLEDGES THAT AT ALL TIMES IN SETTING THE TRANSFER PRICE THE PRIMARY OBJECTIVE OF AGENCY AND THIS AGREEMENT IS TO PROVIDE HOUSING TO ELIGIBLE PERSONS AND FAMILIES AT AN AFFORDABLE HOUSING COST.
Sale by Owner. In the event an Owner sells its Lot, such Owner shall thereupon be released and discharged from any and all future obligations related to such Lot.
Sale by Owner. In the event of a sale of the Property or the assignment of the Lease by Owner, Owner shall obtain from the purchaser or assignee a signed Assumption Agreement in recordable form whereby such purchaser or assignee agrees to pay Broker all commissions payable hereunder and shall deliver a fully executed counterpart thereof to Broker on the date of closing of the sale of the Property or assignment of the Lease. Owner expressly agrees that Owner will not transfer, convey, or sell the Property or assign the Lease without first obtaining from the purchaser or assignee such signed Assumption Agreement. The form of such Assumption Agreement shall be furnished to the Broker at the time Owner enters into any contract for the sale of the Property or assignment of the Lease.
Sale by Owner
