Examples of Eligible Proximity Workforce Household in a sentence
By way of example, if an Eligible Proximity Workforce Household receives a Proximity Housing Loan from the County in the amount of $10,000 and purchases a home with an Original Base Price of $100,000, the County's Shared Appreciation Percentage would be 10% based on the Proximity Housing Loan being 10% of the total purchase price.
By way of example, if an Eligible Proximity Workforce Household receives a Proximity Housing Loan from the County in the amount of $10,000 and purchases a home with an Original Base Price of $100,000, the County's Shared Appreciation Percentage would be 10.5% based on the Proximity Housing Loan being 10% of the total purchase price plus the additional one-half percent for County administrative costs.
By way of example, if an Eligible Proximity Workforce Household receives a Proximity Housing Loan from the County in the amount of $16,500 and purchases a home with an Original Base Price of $100,000, the County's Shared Appreciation Percentage would be 16.5% based on the Proximity Housing Loanbeing 16.5% of the total purchase price.
The Owner shall not rent or otherwise Lease the Home to another party, unless such rental or Lease is to an Eligible Proximity Workforce Household.
In the event a Transfer (that is not a Permitted Transfer) occurs by devise or inheritance due to death of the Owner, the administrator of the Owner's estate or the person inheriting the Home shall provide written notice to the County of the Owner's death within thirty (30) days of the date of death and the following procedures shall apply: The person inheriting the Home (the "Inheriting Owner") shall be deemed to qualify as an Eligible Proximity Workforce Household.
The Owner certifies that the employment, income and other information previously provided to the County in order to qualify for the Proximity Housing Loan is true and correct as of the date first written above and that the County has certified the Owner as an Eligible Proximity Workforce Household.
Owner shall provide the County with notice of any rental or Lease of the Home to an Eligible Proximity Workforce Household which notice shall include information necessary for the County to determine the Household's status as an Eligible Proximity Workforce Househol.
Any rental or Lease of the Home to anyone other than an Eligible Proximity Workforce Household is prohibited and shall constitute a Default by Owner and the County may then exercise any of the remedies set forth in Section 9.2 below.