Common use of Sale of Property by Inergi Clause in Contracts

Sale of Property by Inergi. 51.4.1 The employee must be prepared to sign power of attorney authorizing Inergi to sell property on the employee’s behalf on the first day following the 90 day listing period. If the employee will be unable to vacate the premises at that time, the Employee Relocation Administrator must be notified. 51.4.2 Inergi will pay to the employee the difference between the value of the property to Inergi (Purchase Guarantee) and all existing encumbrances, including the advance of equity. 51.4.3 When an employee applies for assistance under this procedure, he or she must declare under oath, if required by Inergi, all encumbrances of any nature or kind whatsoever, including executions, chattel mortgages, and notices of conditional sales contracts which the employee is obliged to pay. 51.4.4 In consideration of the payment to the employee of the amount established in Subsection 51.4.2, the employee will complete a deed of sale of the property, conveying the same by good and marketable title, but subject to all existing encumbrances, to Inergi or its nominee.

Sale of Property by Inergi. 51.4.1 The employee must be prepared to sign power of attorney authorizing Inergi to sell property on the employee’s 's behalf on the first day following the 90 day listing period. If the employee will be unable to vacate the premises at that time, the Employee Relocation Administrator must be notified. 51.4.2 Inergi will pay to the employee the difference between the value of the property to Inergi (Purchase Guarantee) and all existing encumbrances, including the advance of equity. 51.4.3 When an employee applies for assistance under this procedure, he or she must declare under oath, if required by Inergi, all encumbrances of any nature or kind whatsoever, including executions, chattel mortgages, and notices of conditional sales contracts which the employee is obliged to pay. 51.4.4 In consideration of the payment to the employee of the amount established in Subsection 51.4.2, the employee will complete a deed of sale of the property, conveying the same by good and marketable title, but subject to all existing encumbrances, to Inergi or its nominee.